Marathon Digital Holdings (NASDAQ:MARA) has built-in its multi-chain layer-2 community, Anduro, with the decentralized trade community Portal to Bitcoin. This integration goals to reinforce the utility of the Bitcoin community by enabling atomic swaps, which permit for peer-to-peer transactions of cryptocurrencies throughout totally different blockchains.
Marathon, a publicly-traded bitcoin miner, started incubating Anduro in February, describing it as “a platform built on the Bitcoin network that allows for the creation of multiple sidechains.” The integration with the San Francisco-based fintech supplier and subsequent renaming to Portal to Bitcoin was introduced in an electronic mail shared with CoinDesk on Wednesday.
Previously often known 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 better utility to Bitcoin, a function frequent amongst Ethereum-based belongings and different blockchains however comparatively new to Bitcoin. Anduro’s integration with Portal to Bitcoin may supply new income streams for miners. By utilizing 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 opportunities for revenue generation for miners,” mentioned a Marathon spokesperson.
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