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Marathon Digital, a prominent player in the crypto mining sector, has announced its foray into Bitcoin scaling with the introduction of Anduro, a multichain layer-2 network.
The company shared its plans in a blog post on Feb. 28, unveiling its efforts to foster Bitcoin's development and adoption through this innovative platform.
Accelerating Bitcoin Development
Anduro, conceived as an application layer, aims to catalyze innovation within the Bitcoin ecosystem by facilitating the creation of multiple sidechains.
Marathon Digital envisions Anduro as a versatile layer-2 solution geared towards integrating decentralized governance seamlessly. The firm emphasizes Anduro's commitment to becoming the most reliable and developer-centric Bitcoin layer-two network.
Marathon's Role and Community-Led Approach While Marathon Digital has played a crucial role in incubating Anduro, the platform is poised to evolve as a community-led initiative. The company underscores its collaborative ethos, highlighting the community's pivotal role in shaping Anduro's future trajectory.
Coordinate and Alys
Marathon Digital is developing the first two sidechains on Anduro, Coordinate, and Alys. Coordinate is tailored to provide a cost-effective UTXO (unspent transaction output) stack, catering to the Ordinals community. On the other hand, Alys emerges as an Ethereum-compatible sidechain, offering institutional asset tokenization capabilities.
Leveraging Merge-Mining for Enhanced Revenue
Anduro introduces a groundbreaking approach to mining revenue through merge-mining.
According to Coin Telegraph, this innovative system allows miners such as Marathon to earn revenue from sidechain transactions on Anduro while concurrently participating in Bitcoin mining activities.
Governance and Future Outlook
Governance within Anduro is orchestrated through a consortium of Bitcoin-centric entities known as the Collective, as outlined in the Litepaper.
A report from Seeking Alpha states that during the quarter, the company sold 56% of the Bitcoin it generated to cover operating expenses.
However, Marathon Digital plans to transition to trustless alternatives as they attain production readiness, ensuring a robust and decentralized governance framework for Anduro's sustained growth.
Marathon Digital's initiative with Anduro underscores its commitment to driving Bitcoin's scalability and fostering innovation within the crypto space, positioning itself as a key player in the evolving sector of decentralized technologies.
Photo: Brian Wangenheim/Unsplash
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