November 2, 2021 – San Marino, Republic of San Marino
Mintlayer, the Bitcoin sidechain protocol, is going to launch its testnet on November 10, 2021. 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 Bitcointhanks to a consensus system bound directly to Bitcoin’s proof-of-work.
Asset tokenization on Bitcoin
Asset tokenization is finally possible in a Bitcoin environmentwhere 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.
Enrico Rubboli, core developer of Mintlayer, said,
“The 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 fees.”
Mintlayer is a blockchain built on top of Bitcoin’s network. The development is coordinated by RBB SRL a company based in San Marino. The development effort has been funded by several VCs, including 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.
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