What is Mintlayer (ML)?

Mintlayer is a layer 2 solution that enables the creation of a decentralized finance ecosystem on the Bitcoin blockchain. It allows for the integration of DeFi, smart contracts, atomic swaps, NFTs, and dapps.

Why choose DeFi on Bitcoin?

Mintlayer addresses the question of how to bring DeFi to the Bitcoin blockchain. It focuses on developing a decentralized finance ecosystem that leverages the Bitcoin and Lightning Network. The goal is to enable the deployment of smart contracts on the BTC blockchain and eventually establish a decentralized exchange (DEX). This integration opens up new possibilities for real-world financial use cases on the Bitcoin blockchain.

Mintlayer's Unique Selling Point (USP) - Atomic Swaps

Mintlayer stands out by offering direct 1:1 swaps of Native Bitcoin for other tokenized assets minted directly on Mintlayer. These atomic swaps eliminate the need for intermediaries, peg-in, wrapped, or federated tokens. This unique approach allows users to utilize native Bitcoin for financial instruments without counterparty or intermediary risk.

Decentralization

Mintlayer has simplified the process of running a node, making it resource-efficient so that almost anyone with a typical desktop computer can participate. This approach promotes a more decentralized network by enabling more users to run nodes.

Privacy

Mintlayer prioritizes privacy and is developing a new tokenization standard called MLS-02. This standard will enhance privacy by enabling users of MLS-02 tokens to conduct confidential transactions and increase anonymity.

Scalability

Mintlayer addresses blockchain scalability by reducing transaction size by approximately 70%. Additionally, it leverages the Lightning Network for near-instant and low-cost transactions with high throughput.

Additional Features:

- Users can choose any token to pay transaction fees, unlike Ethereum.

- Mintlayer's Turing incomplete smart contracts reduce the risk of contract failure and increase outcome predictability, while also minimizing on-chain congestion.

- It incorporates an Access Control List (ACL) for improved compliance with security tokens, offering functionalities such as whitelisting/blacklisting addresses.

- Mintlayer enables multi-token transfers in a single transaction, facilitating aggregated payments.

- Integration with the Lightning Network allows for high transactions per second and fast transactions.

- The project includes programmable pools for efficient tokenomics and to avoid Unspent Transaction Output (UTXO) pollution.