Marathon Digital unveils two Bitcoin sidechains as part of Anduro network
Quick Take
- Anduro aims to expand the ecosystem through the creation of multiple community-led Bitcoin sidechains.
Crypto mining firm Marathon Digital is incubating a multi-chain sidechain network focused on Bitcoin named Anduro.
The first two sidechains on Anduro, Coordinate and Alys, are currently under development. Coordinate aims to provide a more efficient UTXO stack for Ordinals, while Alys is an EVM-compatible network for asset tokenization.
“Anduro is a platform built on the Bitcoin network that allows for the creation of multiple sidechains, providing a new avenue for innovation within the Bitcoin ecosystem,” the announcement said. Marathon added that it intends developments on the network, designed to incorporate decentralized governance, to be community-led.
Anduro utilizes a system called merge-mining, where miners can potentially earn Bitcoin-denominated revenue from sidechain transactions while continuing to mine Bitcoin on the base layer, according to Marathon.
“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, Marathon’s chairman and CEO.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
