Marathon Digital Holdings (NASDAQ:MARA) has built-in its multi-chain layer-2 community, Anduro, with the decentralized change community Portal to Bitcoin. This integration goals to boost the utility of the Bitcoin community by enabling atomic swaps, which permit for peer-to-peer transactions of cryptocurrencies throughout completely different blockchains.
Marathon, a publicly-traded bitcoin miner, started incubating Anduro in February, describing it as “a platform constructed on the Bitcoin community that enables for the creation of a number of sidechains.” The mixing with the San Francisco-based fintech supplier and subsequent renaming to Portal to Bitcoin was introduced in an e-mail shared with CoinDesk on Wednesday.
Beforehand referred to as Portal, the corporate raised $34 million in a seed spherical in March. It leverages the Bitcoin layer-2 community Lightning to facilitate atomic swaps, enabling customers to transform belongings like Ethereum (ETH) into Bitcoin (BTC).
This growth brings higher utility to Bitcoin, a characteristic widespread amongst Ethereum-based belongings and different blockchains however comparatively new to Bitcoin. Anduro’s integration with Portal to Bitcoin may provide new income streams for miners. Through the use of merge-mining, collaborating miners can earn Bitcoin-denominated income from transactions on these sidechains whereas persevering with to mine Bitcoin on the bottom layer.
“Integrating Portal to Bitcoin enhances the utility of Bitcoin and presents new alternatives for income era for miners,” mentioned a Marathon spokesperson.
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