Author

Topic: The rise of Layer 2 blockchains projects? (Read 48 times)

legendary
Activity: 2982
Merit: 1028
Leading Crypto Sports Betting & Casino Platform
February 27, 2024, 07:37:14 PM
#4
But If it gains momentum, ML could become more valuable as the ecosystem's token. What are your thoughts on its future?

So, mintlayer must be listed on the major crypto exchange site first to get good liquidity and whales to pump it. Mintlayer's product was not something new in the cryptocurrency but it's potentially to be a new pump and dump token. This project is not that good but as long as it can be listed on binance and other major sites and everything is fine.
Don't expect a lot from bitget caused by i don't really like that exchange site. There have been so many problems happened to the users of bitget. The future can't only be identified by looking at the product released by the project developer.

We must also track it based on how many demands received by the product developed by mintlayer. If you asked me that if mintlater has pretty low hype compared with other tokens which have been backed by major exchange sites or venture capital. I only suggest you to go to the tokens which are backed by the big VC.
This will be also creating demand for token and i hope that everything will fine for you. The key to get a good altcoin if we must be going to the tokens backed by so many big players.

Mintlayer was not backed by binance labs or something else. So, i expect the hype will be small enough compared to the launch of other token in the market.
hero member
Activity: 2100
Merit: 794
Top Crypto Casino
February 27, 2024, 06:55:47 PM
#3
Not to throw shades but if I'm asked to rank top L2 networks, MintLayer won't be making the top 10 but it's only because I barely know anything about the project. I read that Mainnet only went live and the max total supply should be around 600M in the next decade and will stay at that limit with no emissions afterwards which makes the token metrics healthy imo.

Marketcap looks great as well. I might just buy a few and hold and cross my fingers that it would cook but with the number of L2s available in the space, there might not be enough TVL to go round enough for MintLayer to boost of a sizeable TVL but it's still early to say. I'll keep in touch.
legendary
Activity: 2926
Merit: 1069
★Bitvest.io★ Play Plinko or Invest!
February 27, 2024, 02:45:30 PM
#2
With the recent duncan update on the Ethereum network, the Ethereum L2 options are going to get stronger with increased data holding and storage.
It's going to be a tough competition between L2 of Ethereum network and newer L1 networks for the short term.
But in the long run L1s are going to dominate as they be able to modify themselves from scratch depending on their necessity. L2 in my experience has lower TPS and high fluctuation on fees and the ones considered cheap are still taking a fee of cents. On the other some L2 options have insanely fast TPS and cheap fees.
newbie
Activity: 94
Merit: 0
February 27, 2024, 01:07:58 PM
#1
As networks like Ethereum become more congested, layer 2 scaling solutions are gaining prominence. Projects like Polygon and Optimism are seeing adoption by moving transactions off-chain while maintaining layer 1 security. Mintlayer is an interesting layer 2 project I recently came across that's trying to bring advanced functionality to Bitcoin. It aims to enable smart contracts, NFTs, DeFi and more - functionality Bitcoin wasn't designed for. By tapping into Bitcoin's security and network effects, Mintlayer could unlock new possibilities if successful.

To power their ecosystem, Mintlayer created their own token called ML. From what I understand, you'll use ML for things like paying transaction fees or staking to earn rewards. Apparently some bigger exchanges like Bitget just listed ML recently too, potentially boosting its visibility and liquidity.

It's still early for Mintlayer, its mainnet only launched in 2021. But If it gains momentum, ML could become more valuable as the ecosystem's token. What are your thoughts on its future?
Jump to: