Marathon Digital Holdings, one of the world’s largest public Bitcoin mining companies, has announced its work on Anduro, a multichain, layer two platform on top of Bitcoin. With Anduro, Marathon proposes the creation of several sidechains designed to expand Bitcoin’s standard functionality and attract activity previously directed to other chains.
Marathon Announces Anduro Layer Two Platform to Advance Bitcoin's Capabilities
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Marathon Announces Anduro to Expand Bitcoin’s Functionalities
Marathon Digital Holdings, a public bitcoin mining company, has announced it is working on Anduro, a multichain layer two Bitcoin platform. Marathon explained that Anduro would help expand the functionalities that Bitcoin, due to its lean construction by design, cannot provide. The company believes there is a growing demand for Bitcoin applications, given the trust and security associated with the cryptocurrency, in opposition to scams and frauds completed using other blockchain projects.
Anduro aims to become Bitcoin’s application layer, facilitating the creation of multiple sidechains, that will be supported by the collective. The collective is a centralized element that organizes and maintains the peg of bridged assets and participates in the consensus tasks of the mentioned sidechains.
According to Anduro’s litepaper, there is already ongoing work on two sidechains specially directed to address the weak points that bitcoin has today. Coordinate, the first sidechain, is focused on providing a compatible space for current assets on Bitcoin, like inscriptions, which would benefit from a “low latency, and low fee” environment.
Alys, the second sidechain, is focused on bringing Ethereum apps to Bitcoin, including smart contract functionality to attract institutions that seek tokenization solutions. With its Ethereum-like implementation, Alys seeks to “eliminate Bitcoin learning curves and make it easy for institutions to find implementers.”
All of these sidechains would benefit from merged mining, meaning that Marathon could help secure assets in Anduro’s various sidechains chains while still mining bitcoin in the base layer.
Marathon Chairman and CEO Fred Thiel stated that Anduro “adds to Marathon’s growing technology stack by potentially introducing a new source of fee revenue,” stressing that Anduro might “be able to increase Bitcoin’s adoption.”
What do you think about Anduro’s sidechain expansion proposal? Tell us in the comments section below.
