Skip to content

Bitcoin layer 2 sidechain Mintlayer launches security-focused mainnet

Bitcoin layer 2 sidechain Mintlayer launches security-focused mainnet

Mintlayer, a Bitcoin (BTC) layer 2 sidechain focused on improving direct token interoperability and enabling ways to trade value and participate in truly trustless finance, has launched its mainnet on January 29, per the latest information shared with Finbold.

The now-live mainnet seeks to retain some of Bitcoin’s strongest features while adding its own unique spin that will hopefully build upon them. A key area of focus when it comes to keeping BTC’s strengths is security.

Mintlayer’s mainnet supports non-Turing complete smart contacts in an effort to reduce the possible attack vectors and simplify the auditing process. Security will be further boosted when Atomic Swaps enable swaps between Bitcoin and Mintlayer-issued tokens.

Mintlayer’s goals with the new mainnet

In launching its mainnet, Mintlayer hopes to strengthen Bitcoin’s L2 landscape and usher in a new era for real-world asset tokenization. Its system is built with Rust, a consensus that combines elements of Proof-of-Stake (PoS) and Proof-of-Work (PoW), and it will ultimately be akin to BTC’s PoW but with reduced hardware requirements.

It will, like Bitcoin, launch with a Genesis block, and the team hopes that these elements combined, along with the focus on security, lead to higher levels of participation.

The launch will come with an initial supply of 400 million ML tokens, and the plan is that additional tokens will be issued, on average, every two minutes. Mintlayer also explains that the system will gradually decrease token emissions, leading to a deflationary effect similar to that seen with Bitcoin within the coming 10 years.

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in 70+ cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Read Next:

Weekly Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.