Marathon Digital Debuts Bitcoin L2 Network Anduro with Sidechains Coordinate and Alys
In Brief
Marathon Digital unveiled Anduro, a Layer 2 network that allows creation of multiple sidechains for innovation within the Bitcoin ecosystem.
Cryptocurrency mining company Marathon Digital announced incubation of multi-chain Layer 2 network focused on Bitcoin, Anduro. According to the company, Anduro is a platform built on the Bitcoin network that allows the creation of multiple sidechains, providing a new avenue for innovation within the Bitcoin ecosystem.
The first two sidechains on Anduro, Coordinate and Alys, are in the developmental phase. Coordinate is designed to enhance the efficiency of the UTXO stack for Ordinals, while Alys functions as an EVM-compatible network tailored for asset tokenization.
Marathon Digital outlined its plans for the network’s developments, emphasizing a community-led approach, with a focus on incorporating decentralized governance. The network is designed to systematically incorporate decentralized governance, highlighting its goal to evolve into the most reliable, developer-centric Bitcoin Layer 2 solution.
Anduro’s sidechains utilize a merge-mining system, enabling participating miners to potentially earn Bitcoin-denominated revenue from transactions that occur on Anduro’s sidechains, all while maintaining uninterrupted mining on the base layer.
“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,” said Fred Thiel, CEO of Marathon Digital.
Marathon Digital’s Leadership in Bitcoin Mining
Marathon Digital is a digital asset technology company dedicated to supporting and securing the Bitcoin ecosystem. Last year, the company mined 12,852 bitcoins, equivalent to $563.4 million, and witnessed an 18% month-over-month rise in its average operational hash rate, reaching 22.4 EH/s.
Furthermore, the mining company has been actively experimenting on its mining pool.
Recently, Marathon Digital revealed the introduction of the Slipstream service that seeks to streamline the confirmation process for large or “non-standard” Bitcoin transactions by leveraging Marathon Digital’s proprietary mining pool, designed to enhance the efficiency of processing Bitcoin transactions.
Marathon Digital’s recent introduction of Anduro along with other updates highlights its pivotal role in advancing the Bitcoin ecosystem.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
