Mintlayer

Q: What is Mintlayer (ML) used for?

**Decentralised Finance (DeFi):** Mintlayer supports the creation and management of DeFi applications and offers tokenisation standards for fungible (MLS-01), non-fungible (MLS-03), and privacy-focused tokens (MLS-02) without needing complex smart contracts. **Staking and Rewards:** ML tokens are used for staking, allowing users to participate in the network as block producers and earn rewards. Staking pools require a minimum of 40,000 ML tokens, and users can delegate their tokens to these pools to earn rewards. **Transaction Fees:** ML tokens are used to pay for transaction fees on the network, covering costs associated with specific transactions such as token creation and other network fees. **Community Engagement and Governance:** ML token holders can participate in the governance of the Mintlayer network by voting on development priorities and suggesting new features. **Ecosystem Tools:** ML tokens can be used to purchase services within the Mintlayer ecosystem, such as smart contract development, security audits, and software engineering for decentralised applications.

#984

$0.005390($0.00)

Key Stats

Market Cap$1.23M

Volume (24h)$90.22K

Fully Diluted Value$3.23M

Vol/Mkt Cap (24h)7.31%

Total Supply511.14M ML

Max Supply600.00M ML

Circulating Supply228.92M ML

Launch Date2024-01-28

Mintlayer Information

Websites

www.mintlayer.org

Block Explorers

explorer.mintlayer.org

Hashing Algorithms

BLAKE2b

Industries

Platform

Mintlayer Price Converter

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Instrument	Exchange	Benchmark Data	Price	24h Change
ML-USDT MLUSDT_SPBL	bitget	BB	0.005375USDT	-0.56%
ML-USDT ML_USDT	gateio	A	0.005399USDT	-0.42%
ML-USDT ML-USDT	bingx	D	0.005407USDT	-0.59%
ML-USDT MLUSDT	mexc	C	0.005397USDT	-0.04%
ML-USDT ML_USDT	poloniex	C	0.005900USDT	0.00%

About Mintlayer

Mintlayer (ML) is a blockchain platform aimed at enhancing decentralised finance by addressing scalability and security issues inherent in existing networks. Utilising Bitcoin's security model and advanced cryptographic techniques, Mintlayer offers a range of token standards and a unique PoS consensus mechanism. ML tokens are central to the platform's functionality, supporting transaction fees, staking, community governance, and various ecosystem services.

Frequently Asked Questions

Mintlayer (ML) is a blockchain platform designed to enhance and scale decentralised finance (DeFi) by leveraging Bitcoin's security model. It addresses common blockchain issues such as high transaction fees, network congestion, and centralisation. The platform uses a unique consensus mechanism called Dynamic Slot Allotment (DSA), a refined Proof of Stake (PoS) model, and incorporates advanced cryptographic techniques such as Schnorr signatures and the Blake2b hash function to ensure security and efficiency.

Decentralised Finance (DeFi): Mintlayer supports the creation and management of DeFi applications and offers tokenisation standards for fungible (MLS-01), non-fungible (MLS-03), and privacy-focused tokens (MLS-02) without needing complex smart contracts.

Staking and Rewards: ML tokens are used for staking, allowing users to participate in the network as block producers and earn rewards. Staking pools require a minimum of 40,000 ML tokens, and users can delegate their tokens to these pools to earn rewards.

Transaction Fees: ML tokens are used to pay for transaction fees on the network, covering costs associated with specific transactions such as token creation and other network fees.

Community Engagement and Governance: ML token holders can participate in the governance of the Mintlayer network by voting on development priorities and suggesting new features.

Ecosystem Tools: ML tokens can be used to purchase services within the Mintlayer ecosystem, such as smart contract development, security audits, and software engineering for decentralised applications.