DeFi on Bitcoin is possible with this new Layer 2: AMA with Mintlayer
Mintlayer, an open-source, Layer-2 solution for Bitcoin, has taken the best of the Bitcoin (BTC) and Ethereum (ETH) ecosystems to make crypto operations efficient and secure. The protocol allows batch transactions (even between different tokens), has a UTXO-based accounting system, and uses Ethereum’s access control list for token security. By having full support for the Lightning Network, Mintlayer can scale its network resources without limit.
Users can exchange Bitcoin directly for tokenized assets via atomic exchange and transfer assets in the system with zero gas fees thanks to the dedicated Mintlayer wallet.
The consensus mechanism, Dynamic Slot Allocation (DSA), is a variant of proof-of-stake, but with a twist: Users do not need to refer to external sources for time validation because each block anchors to a block on Bitcoin; and it has an integrated checkpoint system that can be activated by any network participant to prevent 51% attacks.
Mintalyer also includes Wasm, a general-purpose virtual machine that can compile from a wider range of programming languages. It is a register based machine and more flexible than EVM.
BUILD for people
The Mintlayer protocol provides developers with multiple DeFi use cases, from building DEXs, marketplaces, and lending platforms to token generation (utility, governance, security, etc.) and derivative tokenization. For those with no software development experience, Mintlayer offers smart contract integrations into apps with zero coding.
To support new creative minds and projects that want to contribute to DeFi on Bitcoin development, Mintlayer launched an ecosystem fund with an incubator, accelerator and grant programs.
Cointelegraph x Mintlayer AMA
The upcoming AMA will delve into the future of DeFi on Bitcoin. The AMA guests leading the discussion are:
- Charlie Shrem – founder of the Bitcoin Foundation, entrepreneur and Bitcoin advocate. Member of the Mintlayer advisory board and co-founder of BitInstant.
- Enrico Rubboli — co-founder of Mintlayer with over 15 years of experience in software development.
The live AMA session will take place on March 15 at 14:00 UTC on Cointelegraph’s YouTube channel.
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