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.
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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.
