The Mintlayer Token Launch is March 21, 2023. Join us on Telegram to learn more and claim your ML.
Financial markets no longer have to choose between
Unprecedented security stems from innovating the Proof-Of-Stake mechanism
Mintlayer’s Dynamic Slot Allocation (DSA) consensus merges Proof-Of-Stake and Bitcoin technologies to make decentralized financial markets attack-proof.
Mintlayer’s DSA combines both mechanisms to make a network that’s secure regardless of scale.
Bitcoin anchoring
Every block on Mintlayer anchors to a block on Bitcoin. Using the timespace of Bitcoin, each Mintlayer round lasts 1008 Bitcoin blocks, or a week. This frees Mintlayer from the dependency on external sources in time validation, solving PoS-based blockchain problems.
Checkpoint system
The protocol’s checkpoint system protects Mintlayer against Proof-of-Stake long-range attacks, even in cases where a single participant can obtain more than 50% of the network. Any network participant can enforce checkpoints from Mintlayer on Bitcoin to ensure the network's irreversibility.
Randomized selection
To create and validate blocks, the protocol selects random stakers. This ensures that every user has an equally random chance of participation in the chain's maintenance, depending on the amount staked.
Fitting more into less
Users can batch multi-token transfers into a single transaction to increase scalability. Block size is limited to 1MB, and signature aggregation reduces each payment's size by 70% to avoid network clogging. This ensures low transaction fees even at scale.
Sending transactions through peer-to-peer batching, Mintlayer retains scalability:
Users create a transfer, opting in for peer-to-peer batching
Signature aggregation compresses each payment to 1/3 of its weight
Multi-token transaction is grouped with transfers from other users and then transmitted to the blockchain
The transfer’s value is split across multiple receivers
Users pay lower transfer fees and retain privacy, without network pollution
A protocol for every financial use case
Wallet
All users, from institutional investors to traders who are just starting out, can benefit from Mojito. With this non-custodial solution, access your funds from a hardware wallet or via private keys.
Store or transfer any cryptocurrency or use existing wrapped tokens from any blockchains
Redeem BTC on Bitcoin mainnet
Run a node from any device
Tokenization
Migrate from different blockchains with ease and join the interconnected Mintlayer ecosystem. Our protocol supports security tokens, asset tokenization, derivatives and more - giving you the power of choice when it comes to investments.
Migrate existing projects from widely adopted blockchains and mint new tokens on Mintlayer
Build decentralized, all-inclusive applications
Issue a token without prior technological knowledge or experience
Decentralized Exchange
Our protocol runs a built-in DEX. Being native, it supports atomic-swap and is a censorship-resistant exchange. Verify your identity from the wallet application and get cleared through the Access-Control-List to access Security token trades.
Share orders & initiate trades without 3rd-party intermediaries
Exchange Bitcoin cross-chain directly on Mintlayer
Trade any assets directly from the wallet
Built to be compatible with blockchain ecosystems
Mintlayer is compatible with:
Bitcoin lightning network
Native multisignature
BIP32, BIP38 and BIP174.
Hardware wallet integration for private keys
UTXO structure
Developer-enabled
Developers who integrate with or build on top of Mintlayer get access to a simple API, supportive documentation, RFC, and an importing tool for ERC20 tokens from the Ethereum blockchain. Open-source development is incentivized with community grants.
Free of Bitcoin pollution
Transactions made on Mintlayer do not take up space on the Bitcoin blockchain. Network security checkpoints take up as much space as an average Bitcoin transaction — these are used to prevent attacks from entities with large stakes.
Built for financial use cases
Truly Decentralized Trading
Benefit from built-in P2P atomic swap exchange. Trade assets on Mintlayer or trade Bitcoin on its native chain.
Security Tokens
Use built-in decentralized tools for fundraising on primary and secondary markets—access-control-list compliant.
Stablecoins
Lightning Network compatibility allows stablecoin use to provide users with faster and cheaper transactions.
Non-custodian asset storage
Protect assets under private keys. Mintlayer’s single wallet stores all cryptocurrencies, security tokens, and collectibles.
DeFi dApps
Turing incomplete smart contracts provide reliability and outcome predictability for dApps. Supports tokenomic models of taxation, dividend distribution, and others.
Confidential Settlements
UTXO’s inherent structure, combined with transaction batching, shuffles payment and balance history to make transactions anonymous. Supports complete anonymity with ‘Confidential Transaction’ mode.
We want you to ask questions
What is the benefit compared to Ethereum?
- Efficiency: Mintlayer allows batching/coinjoin transactions, even between different tokens. A batched payment weights about ⅓ of a traditional Ethereum transaction and grants more privacy against blockchain analysis.
- Long term scalability: as being compatible with Bitcoin's smart-contract, it fully supports Lightning Network, while Ethereum's sharding has not been implemented yet.
- Sustainability: a full node can be run on an average PC which is not dedicated, while Ethereum requires a dedicated 500gb SSD (and the space requirement increases of about 150gb/year), about 16gb RAM and a good CPU. Nowadays, to sync a new week of Ethereum blockchain life, a full node requires an entire day on the most powerful machines, which is unsustainable in the long run.
- Reliability: a Mintlayer unpruned full node syncs as fast as a Bitcoin node (just slightly heavier when the blockchain is saturated), while an Ethereum archival node requires about 4 terabyte, increasing by 2 terabyte per year. To query for an intermediate balance state, a user must apply to an archival node, which is likely a third party. These “big scary” archival nodes might also disappear in the future: today, it takes weeks to sync an archival node from the genesis or to reconstruct it from a full node.
What is the benefit compared to Bitcoin?
The main goal of the Mintlayer sidechain is tokenization. The native token represents the stake of the blocksigners: a) the ownership of the slots and b) the economic incentives to properly run the chain.
Technically speaking, a difference between Bitcoin and Mintlayer transactions is, for the latter, the possibility of an Access Control List which allows for whitelisting/blacklisting the destination addresses or to create spending/receiving conditions (for example, that address can receive at most 100 tokens, or cannot spend before 1000 blocks).
It is a core feature of the security tokens, which guarantees more compliance to legal requirements.
ACLs today are possible on Ethereum, but not on Bitcoin.
Why not merged mining?
Not all Bitcoin miners are expected to do merged mining, so the players with an active role in the governing of the sidechain would be a subset of the Bitcoin miners.
This centralizes the government of the sidechain in the hands of a few Bitcoin mining pools, handing the power to the mining-controllers of the pool, not the miners themselves.
In case of a malicious pool in the Bitcoin ecosystem, the individual miners are likely to move the hash rate to a different pool, while a Bitcoin miner has no direct incentives in avoiding a pool that is acting maliciously on the sidechain.
Hence, in a merged mining system there are no economic incentives preventing a possible attack on the sidechain from a Bitcoin pool.
Additionally, even if the miners had control, they might have no interest in the well-being of the sidechain, if they aren't invested in it in the first place.
