The Bitcoin L2 network, Mintlayer, has been launched on the mainnet. The token ML will gradually transition from the Ethereum network to the mainnet.

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2024/01/29 15:50

Bitcoin Layer2 network Mintlayer announces the launch of its mainnet, and is transitioning its token ML from the Ethereum network to its native platform. Mintlayer features a UTXO model similar to Bitcoin's and hard-coded smart contracts, developed using Rust, with a consensus mechanism that combines Proof of Work (PoW) and Proof of Stake (PoS).

The initial supply of Mintlayer's token ML is 400 million, with 200 million used for block rewards over ten years, capped at 600 million. Block rewards will decrease annually, adopting a burn mechanism to cause token deflation.

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