Chainwire

The Bitcoin Ecosystem Upgrades: Financial Applications Are Now Possible With Mintlayer

Chainwire · Nov. 2, 2021 at 1:30 pm UTC · 2 min read
The Bitcoin Ecosystem Upgrades: Financial Applications Are Now Possible With Mintlayer

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San Marino, Republic of San Marino, 2nd November, 2021, Chainwire โ€” The sidechain announces its testnet on the 10th of November 2021. ย It enables tokenization, staking, lending, and DEXs for native BTC.

Mintlayer, the Bitcoin sidechain protocol is going to launch its testnet on the 10th of November, it will enable tokenization, staking, lending, and DEXs for native BTC. The idea of Mintlayer originates from the Core Developer Enrico Rubboli, former Bitfinex and Tether developer.

Disruption of the DeFi Industry

Mintlayer aims at creating opportunities for all the DeFi projects looking for greater technical interoperability with Bitcoin as well as scaling their user-base by increasing the opportunity to attract investments from Bitcoin holders. Today the DeFi industry is built mostly on the Ethereum network. Mintlayer challenges the status quo by building a secure settlement layer on Bitcoin, thanks to a consensus system bound directly to Bitcoinโ€™s proof-of-work.

Asset Tokenization on Bitcoin

Asset tokenization is finally possible in a Bitcoin environment, where bitcoins can be exchanged for any asset on Mintlayer (DEX) like stock tokens and stablecoins, without the need for a specific gas token to perform transactions.

โ€œThe Mintlayer community is thrilled to launch its testnet. The core team of full-time developers and supporting staff has already grown past 24 people. Many projects are already seeing the disrupting value of this technology and are planning to switch from the Ethereum network to Mintlayer, avoiding high feesโ€ Enrico Rubboli, Mintlayer Core Developer.

To know more on how Mintlayer works, discover our short introductory videos on launch.mintlayer.org and follow Mintlayer on socials: launch.mintlayer.org/signup-social

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About Mintlayer:

Mintlayer is a blockchain built on top of Bitcoinโ€™s network, the development is coordinated by RBB SRL, a company based in San Marino. The development effort has been funded by several VCs, among which Alphabit Digital Fund, Moonwhale Ventures, Moonrock Capital and many others (see the complete list here).

Mintlayer improves direct token interoperability enabling new ways to trade value, creating a system where new business models can flourish and participate in truly trustless finance. The protocol leverages technologically advanced scalability to enforce network security, increase node inclusivity, and ensure long-term sustainability.

Fore more information visit https://www.mintlayer.org/

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