Anduro, Marathon’s Layer-2 Chain, Introduces ‘Bitcoin Gateway’ for Atomic Swaps

Anduro, a layer-2 network backed by Marathon Digital Holdings, has integrated the decentralized exchange (DEX) network Portal to Bitcoin, previously known as Portal, to enhance functionality on the Bitcoin network, the oldest blockchain globally.

Marathon publicly traded and began incubating Anduro in February, aiming to establish a platform on the Bitcoin network that supports the creation of multiple sidechains. The collaboration with San Francisco-based fintech provider DEX network coincides with the project’s rebranding to Portal to Bitcoin, as per an email announcement shared with CoinDesk.

Previously known as Portal, the company secured a $34 million seed round in March and utilizes the Bitcoin layer-2 network Lightning for users to convert assets like ETH into BTC through atomic swaps – direct peer-to-peer transactions enabling the exchange of cryptocurrencies across different blockchains.

While such transactions are common among Ethereum-based assets and other blockchains, they are a relatively recent development on the Bitcoin network. The integration of Anduro with Portal to Bitcoin not only enhances Bitcoin’s utility but also opens up potential revenue streams for miners, hence Marathon’s involvement.

Anduro’s sidechains employ merge-mining, allowing participating miners to earn Bitcoin-denominated revenue from transactions on these chains while continuing to mine bitcoin on the base-layer.

The collaboration between Anduro and Portal to Bitcoin signifies a step towards expanding the functionality and interoperability of the Bitcoin network, offering users more options for asset conversion and transactions.

This development underscores the ongoing evolution and innovation within the cryptocurrency space, particularly in enhancing the capabilities and utility of established blockchain networks like Bitcoin.

As the industry continues to evolve, collaborations and integrations like Anduro’s with Portal to Bitcoin pave the way for further advancements and opportunities within the crypto ecosystem, benefiting users and miners alike.