ML Mintlayer

Mintlayer Use Cases

Mintlayer is designed to expand the functionality of Bitcoin by enabling new use cases that are not available or are very limited on the Bitcoin blockchain. Here are some key use cases:

• DeFi Applications: Mintlayer allows for the creation of decentralized exchanges (DEXs), stablecoins, and other DeFi applications directly on Bitcoin, enhancing security and decentralization.
• Tokenization of Real-World Assets: It simplifies the tokenization of assets like real estate, financial instruments, precious metals, and art, making it easier to bring traditional assets into the digital realm.
• Smart Contracts: Mintlayer supports non-Turing complete smart contracts, which prioritize safety, sustainability, and validation speed over unlimited versatility, offering a more secure and efficient smart contract environment.
• Atomic Swaps: Users can trade any token in the Mintlayer ecosystem for native Bitcoin without relying on wrapped tokens or token bridges, enhancing security and decentralization.
• Bitcoin-Based Stablecoins: Mintlayer enables the creation of stablecoins built on Bitcoin, providing less volatility for payments and leveraging the trust already established in Bitcoin.
• Trustless Bitcoin DEXs: Users can swap BTC for other tokens without relying on centralized exchanges, promoting a more decentralized and secure trading environment.
• Tokenized Real-World Assets on Bitcoin: Mintlayer securely brings real-world assets onto the Bitcoin blockchain, opening up new possibilities for asset management and trading.

Pros of Mintlayer

• Enhanced Functionality: Mintlayer enhances the functionality of Bitcoin by allowing direct access to DeFi applications without the need for wrapped tokens or token bridges. This makes it more appealing to institutions and organizations already using Bitcoin.
• Security: Mintlayer improves security by eliminating the risks associated with token bridges and wrapped tokens, which were major targets for hackers in 2022.
• Scalability: It offers scalability through transaction batching, which reduces transaction size by up to 70%, lowering fees and network congestion. Additionally, it is compatible with the Lightning Network and plans to introduce ZK Thunder, an EVM-compatible L3 execution layer.
• Decentralization: Mintlayer promotes decentralization with peer-to-peer native cross-chain swaps (atomic swaps), which eliminate the need for centralized exchanges (CEXs) and liquidity pools. It also allows anyone to run a full node, even on low-power devices like a Raspberry Pi.
• Interoperability: It enhances blockchain interoperability through atomic swaps, enabling secure, trustless exchanges across networks.
• Sustainability: Mintlayer reduces computational demands, making it energy-efficient and allowing low-power devices to run nodes efficiently.

Cons of Mintlayer

• Complexity: While Mintlayer simplifies many processes, its unique architecture and use of advanced technologies like ZK-rollups and non-Turing complete smart contracts may present a learning curve for some users.
• Adoption: As a relatively new project, Mintlayer may face challenges in achieving widespread adoption and integration within the existing DeFi ecosystem.
• Development: The project is still in development, and some features, such as ZK Thunder, are yet to be implemented, which may delay its full potential.
• Competition: Mintlayer competes with other layer-2 scaling solutions and DeFi platforms, which may offer similar functionalities and benefits.

Founders and Key Team Members

• Enrico Rubboli: Core Engineer and CEO of Mintlayer. He has extensive experience in software development and a strong background in the crypto industry, having worked with companies like Bitfinex and Tether.
• Luca Viviani: Formerly at JUR, he is involved in tokenomics at Mintlayer.
• Zaid Ismail: Business Development and Operations Officer at Mintlayer.

Additional Key Team Members

• Ben Marsh: Cryptography Engineer and researcher at Toshiba.
• Mariangel Garcia: Marketing professional formerly at Binance.
• Christopher Luu: Marketing professional formerly at PowerTrade.
• Pietro Calvaruso: Head of the legal department.
• Daniele Magiera: Web developer and marketing professional.

Advisory Board

• Charlie Shrem: From the Bitcoin Foundation.
• Michael Terpin: From Transform Ventures.
• Liam Robertson: From Alphabit.
• Simon Schwerin: From Iconomy Partners.
• Fabio Cardoni: Business Development advisor.

Investors in Mintlayer

Mintlayer has secured funding from various investors. Here are some of the key investors:

• Moonrock Capital: A venture capital firm that invests in early-stage blockchain and cryptocurrency projects.
• Kyros Ventures: A venture capital firm focused on blockchain and cryptocurrency investments.
• x21 Digital: A venture capital firm that invests in blockchain and digital asset projects.
• Lotus Capital: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Lunar Station: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Alphabit Fund: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Minted Lab: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Iconomy: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Chain Ridge Capital: A venture capital firm that invests in blockchain and cryptocurrency projects.
• Sky Ventures: A venture capital firm that invests in blockchain and cryptocurrency projects.

These investors have contributed to Mintlayer's total funding, which includes a $5.2 million seed funding round.

Halal Status of Cryptocurrencies

• Mintlayer: Yes, Mintlayer is considered halal. According to Practical Islamic Finance, Mintlayer has been evaluated and is listed as "Comfortable," indicating that it meets the criteria for being halal. This assessment is based on the project's adherence to Islamic financial principles, which do not involve lending or borrowing with interest, gambling, or other haram activities.

Key Points:

• Islamic Finance Principles: The halal status is determined by ensuring that the project does not engage in activities prohibited by Islamic law, such as usury or gambling.
• Project Evaluation: Practical Islamic Finance provides detailed reports on various cryptocurrencies, including Mintlayer, to help users make informed decisions about their investments.