Marathon Unveils Bitcoin-Based L2 Network Anduro

Mining company Marathon Digital Holdings has introduced Anduro, a multi-chain, layer-two platform for the blockchain of the first cryptocurrency.

Today, we’re announcing Anduro: a multi-chain, layer-two network on #Bitcoin. pic.twitter.com/kgEAlbJdto

— Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) February 28, 2024

“Anduro is a platform built on the Bitcoin network that allows for the creation of multiple sidechains, providing new opportunities for innovation within the ecosystem,” the firm explained.

According to the statement, the solution is designed for the systematic integration of decentralized governance, aiming to become “the most reliable, developer-focused layer two.”

Marathon is already developing the first two sidechains on Anduro, which participants can enhance as open-source products. Coordinate is intended to provide an “economically efficient UTXO stack” UTXO for the Ordinals community. Alys is an Ethereum-compatible protocol for asset tokenization, according to the description.

Marathon noted that the sidechains will use so-called merged mining, allowing Bitcoin miners to earn additional income from processing transactions in the “side chains.”

“As the largest publicly traded Bitcoin miner, Marathon is interested in supporting innovation within the ecosystem, which includes incubating projects like Anduro,” stated the company’s CEO, Fred Thiel.

According to him, the platform will primarily provide Marathon with a new source of fee-based revenue. Secondly, it will promote Bitcoin, which will positively impact the company’s operations.

“We believe in testing, iterating, and letting the market decide which ideas will succeed. We consider Anduro to be one of those that offer value to Bitcoin holders and application developers, while simultaneously strengthening the long-term resilience of PoW operations,” Thiel added.

Earlier in February, Tron Foundation founder Justin Sun announced plans to develop an L2 network for scaling Bitcoin.