Marathon’s Layer-2 Chain, Anduro, Plugs In ‘Portal to Bitcoin’ for Atomic Swaps

Portal makes use of Bitcoin layer-2 community Lightning to permit customers to transform belongings like ETH into BTC by means of atomic swaps.

In addition to introducing higher utility to Bitcoin, Anduro might current a chance for additional income streams for miners, therefore Marathon’s involvement.

Anduro, a multi-chain layer-2 community incubated by bitcoin miner Marathon Digital Holdings (MARA), has included the decentralized change (DEX) community Portal to Bitcoin – previously identified merely as Portal – with the purpose of enhancing utility on the world’s oldest blockchain community.

Publicly-traded Marathon started incubating Anduro in February as a “platform constructed on the Bitcoin community that enables for the creation of a number of sidechains.”

The combination with a San Francisco-based fintech supplier DEX community coincides with a renaming of the undertaking to Portal to Bitcoin, in response to an emailed announcement shared with CoinDesk on Wednesday.

The corporate previously referred to as Portal raised a $34 million seed spherical in March, and makes use of the Bitcoin layer-2 community Lightning to permit customers to transform belongings like ETH into BTC by means of atomic swaps – peer-to-peer transactions the place cryptocurrencies may be exchanged on completely different blockchains.

Such observe is commonplace between Ethereum-based belongings and on different blockchains, however is a much more latest improvement on Bitcoin.

In addition to introducing higher utility to Bitcoin, Anduro might current a chance for additional income streams for miners; therefore Marathon’s involvement.

Anduro’s sidechains use a course of known as merge-mining, whereby collaborating miners might earn Bitcoin-denominated income from transactions that happen on these chains whereas persevering with to mine bitcoin on the base-layer.

Learn Extra: Crypto for Advisors: Layer 2s and the Evolution of Bitcoin