Marathon Digital Holdings, Inc. a leader in supporting and securing the Bitcoin ecosystem, unveiled Anduro, a new multi-chain layer-two network on Bitcoin aimed at accelerating Bitcoin development and adoption, in a press release today.
TakeAway Points:
- Bitcoin Miner Marathon has developed Anduro, to serve as an application layer.
- This initiative aims to allow for the creation of multiple side chains, providing a new avenue for innovation within the Bitcoin ecosystem.
- Currently, Marathon is already developing the first two side chains on Anduro, namely; Coordinate and Alys.
Marathon’s Anduro
Marathon developed Anduro to serve as an application layer while strengthening the underlying incentives behind Bitcoin’s proof-of-work.
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According to the report, Anduro is a platform built on the Bitcoin network that allows for the creation of multiple side chains, providing a new avenue for innovation within the Bitcoin ecosystem. While Marathon has helped incubate Anduro, the network is designed to be community-led and community-driven.
“The network is designed to systematically integrate decentralized governance, with a focus on becoming the most reliable, developer-centric Bitcoin layer-two.”
the report read.
Presently, Marathon is already developing the first two side chains on Anduro, namely; Coordinate and Alys, which contributors to the open-source project can further develop. Coordinate offers a cost-effective UTXO stack for the Ordinals community, whereas Alys is an Ethereum-compatible chain for institutional asset tokenization.
Network Possibilities
Also, Anduro’s sidechains use a technique known as merge-mining. However, to continuously mining bitcoin on the base layer, participating miners like Marathon might be able to receive payments in Bitcoin from transactions that take place on Anduro’s sidechains.
According to Fred Thiel, Marathon’s Chairman and CEO, “As the largest publicly traded Bitcoin miner working to process Bitcoin transactions and secure the network, Marathon has a vested interest in supporting innovation in the Bitcoin ecosystem, which includes incubating projects like Anduro,” he said.
Thiel also pointed out that Anduro adds to Marathon’s growing technology stack by potentially offering a new source of fee revenue. He also added that “Anduro might be able to boost Bitcoin’s uptake by expanding its features, and if Bitcoin prospers, then so do we.”
“We believe in testing, iterating, and letting the market decide what ideas succeed. 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.”
he added.
