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How Marathon’s Anduro Sidechain Could Unlock Bitcoin’s Potential for Web3
Bitcoin’s potential as a stable asset and a disruptive technology was the focus of a recent discussion between panel host Rob Nelson and Marathon’s VP of Digital Asset Management Paul Giordano. They explored Bitcoin’s evolving role beyond its role as digital gold, exploring its utility in shaping the future of Web3.
Nelson asked an interesting question about the stability and utility of bitcoin in the face of global volatility. He pointed to Michael Saylor’s substantial investment in bitcoin through his company, MicroStrategy, and wondered whether bitcoin’s future value extends beyond its status as a store of value.
Paul Giordano agreed, noting that bitcoin has indeed been the best store of value over the past 15 years. However, he pointed out that what is often overlooked is the immense security and computing power of the bitcoin network. Giordano explained: “The bitcoin network is the most secure and powerful computing network in the world. Any application built on it benefits from unprecedented security and decentralization.”
Giordano highlighted Marathon’s innovative approach with its layer-2 sidechain called Anduro. This development will enable smart contracts to be implemented on the Bitcoin blockchain, leveraging the network’s robust security and widespread diversification. “We’re going to see more and more use cases on the Bitcoin blockchain,” he noted, predicting increased value for bitcoin mining companies and the network as a whole.