Gate.io Blog GateLive AMA Recap-Mintlayer

GateLive AMA Recap-Mintlayer

07 April 17:54

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## Why is it important to have a sustainable and decentralized solution for finance, and how does Mintlayer contribute to this vision? 
**Michael Bille(CBDO):**
-Fractional banking in traditional finance is unsustainable and a problem as we see today.
-Central banks can print money - inflation
-Banks and governments in control of the money in bank accounts.
-<a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> blockchain provides decentralization, security and transparency.
-Mintlayer offer the possibility to build DeFi, Gaming and NFTs on a <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> standard.

## What are other unique features of Mintlayer architecture?
**Michael Bille(CBDO):**
-Atomic Swap DEX: The core of Mintlayer provides the ability to swap BTC from the main <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> blockchain to any token issued on the Mintlayer blockchain using atomic swaps. This removes the need for bridges or wrapped/pegged <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> on the sidechain. Think of it as the "gold standard", but with <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>.

-Token issuance: Mintlayer is designed with compliance in mind. Tokens created on Mintlayer can represent stocks, contracts, or any financial instrument. Features such as ACL (Access Control List) make it easier for token issuers to meet KYC / AML obligations.

-Fully decentralized sidechain: Mintlayer is an open and permissionless network with no gas fee monopoly.

## What is the difference between Mintlayer and Lightning Network or other Layer 2 blockchains, as it relates to <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>? 
**Michael Bille(CBDO):**
-Focus entirely on <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> with its security and decentralisation.
-UTXO model instead of Account model.
-DEX - atomic swaps with the original, native <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> for any tokens issued on Mintlayer.
-LN is the payment solution for <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> and Mintlayer is the smart contract solution for <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> (NFT, DeFi, Tokenization of assets).
-No need for wrapped/federated <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>.
-Lightning Network integration to the protocol with the goal to allow smart contracts to be built around here.
-No native gas token, any token can be used for transaction fee as long the Blocksigner accept this token.

## What is the roadmap for Mintlayer's development and how do you plan to involve the community in the process? 
**Michael Bille(CBDO):**
-Testnet is scheduled to launch in Q2 and the Mainnet to follow in Q3.
-Partners to start build on Mintlayer, the standard-token and NFT-token are ready in the testnet version. 
-Ecosystem Fund in progress.
-Incubator program 
-Accelerator Program 
-Ecosystem Fund in progress.
-Open source development grants
-Mintlayer Institutional -  which will serve corporations, banks, and investment funds with compliance and risk management solutions
-Mintlayer Launchpad - A platform to launch new projects building on Mintlayer.
-ML Developer University - An online learning center that will foster the next generation of blockchain developers

## Can you give examples of real-world use cases where people can use Mintlayer?
**Michael Bille(CBDO):**
Tokenization of assets:
-Mintlayer is designed with compliance in mind. Tokens created on Mintlayer can represent stocks, contracts, or any financial instrument. 
-Features such as ACL (Access Control List) make it easier for token issuers to meet KYC / AML obligations.
-<a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> standard - purchase/swap the token with the native <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>.

## We’ve seen recently the appearance of the Ordinals protocol that enables use of NFTs on <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>. Do you use it in your token standard for NFT in Mintlayer or do you have your own? 
**Michael Bille(CBDO):**
-Originals and Incriptions on <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> onchain:
1.Polution on the <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a> blockchain - or is it art?
2.Full mempool - good or bad for the long term? (Miner revenue)
3.Cheap transactions vs more expensive. (3rd world countries that need <a href="/price/bitcoin-btc" target="_blank" class="blog_inner_link">Bitcoin</a>)

-MLS-03 is the NFT token on Mintlayer.

Click here to review the LIve AMA>>[AMA-Mintlayer](https://www.gate.io/live/video/a1cf8a090b061bcc09d490cd9e960a16 "AMA-Mintlayer")

<div class="blog-details-info">
<div>Author:** GateLive**, Gate.io Team
<div class="info-tips">\*This article represents only the views of the researcher and does not constitute any investment suggestions.
<div>\*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all cases, legal action will be taken due to copyright infringement.
</div>

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Necessity of improving finance

Features of Mintlayer architecture

Difference between Mintlayer and other Layer 2 blockchains

Roadmap for Mintlayer’s development

Examples of people using Mintlayer in real life

Token standard for NFT in Mintlayer

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GateLive AMA Recap-Mintlayer

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