Key Points
- Marathon Digital, a US-based crypto mining firm, introduces Anduro, a multi-chain sidechain network for Bitcoin.
- Anduro is designed to enhance Bitcoin’s functionality, offering a platform for developers to build different sidechains.
Marathon Digital, a prominent cryptocurrency mining company in the United States, has unveiled Anduro. This is a multi-chain sidechain network created to boost the functionality of Bitcoin (BTC).
According to a company announcement, Anduro is the first of its kind. It aims to transform the Bitcoin ecosystem by providing a platform for developers to establish various sidechains, leveraging the security and decentralization of the blockchain.
Anduro’s Role in the Bitcoin Ecosystem
Marathon has played a pivotal role in nurturing Anduro, but the network is structured to be community-driven and led. The goal is to incorporate decentralized governance systematically, focusing on becoming the most reliable and developer-friendly layer-two network for Bitcoin.
The first two sidechains to be established on Anduro are currently under development. However, Marathon stated that these projects could be further developed by open-source contributors.
These chains, dubbed Coordinate and Alys, offer unique solutions for the Bitcoin network. Coordinate is focused on optimizing the UTXO stack for Ordinals, while Alys is being designed as an EVM-compatible network for asset tokenization.
The company revealed that these chains are designed with unique features, such as a merge-mining system. This system allows miners to potentially earn Bitcoin-denominated revenue from transactions on sidechains while continuing to mine Bitcoin on the base layer.
This innovative approach is anticipated to draw miners and developers, encouraging innovation and growth within the Bitcoin ecosystem.
Fred Thiel, Marathon’s Chairman and CEO, stated, “We believe Anduro is one of those ideas that provides value to Bitcoin holders and application developers, all while reinforcing the long-run sustainability of Bitcoin’s proof-of-work.”
Marathon’s Expansion and Recent Acquisitions
Thiel noted that the introduction of Anduro expands Marathon’s technology stack, potentially introducing a new source of fee revenue. By enhancing Bitcoin’s functionality, Anduro could boost Bitcoin’s adoption, leading to mutual benefits for Marathon and the broader Bitcoin ecosystem.
The company is committed to providing solutions to enhance the capabilities of the Bitcoin network.
Last week, Marathon launched Slipstream, a new offering designed to expedite the processing of complex transactions. Slipstream aims to simplify the confirmation of large or “non-standard” Bitcoin transactions, reducing the delays and complications often encountered during such processes.
Slipstream operates by adding eligible complex transactions to the members’ pool or mempool for mining, provided they meet the miner’s minimum fee threshold and adhere to the network’s consensus rules. Mempools serve as waiting rooms for Bitcoin transactions.
In December, the company acquired two operational mining sites from Generate Capital, totaling 390 megawatts of capacity, for approximately $179 million.
This acquisition strengthened Marathon’s Bitcoin mining portfolio, which currently stands at 584 megawatts, with 97% of its capacity provided by third-party data centers.
