TechFlow reports that Bitcoin Layer 2 network Mintlayer has announced the launch of its mainnet on X, transitioning its ML token from the Ethereum network to its native platform.
Mintlayer features a UTXO model similar to Bitcoin and hard-coded smart contracts, is developed in Rust, and employs a hybrid consensus mechanism combining Proof of Work (PoW) and Proof of Stake (PoS).
The initial supply of Mintlayer's ML token is 400 million, with 200 million allocated for block rewards over 10 years, and a maximum cap of 600 million. Block rewards will decrease annually, coupled with a token burn mechanism to achieve deflation.
Future plans include HTLC outputs for Atomic Swaps, enabling DEX functionality and integration with Layer 2 solutions such as the Lightning Network.
