How Marathon's Anduro side chain could unlock bitcoin's potential for Web3
07/23/2024 22:06Bitcoin's role as digital gold expands with new technological applications, enhancing its overall utility.
Bitcoin's potential as both a stable asset and a groundbreaking technology was the central focus of a recent discussion between Roundtable anchor Rob Nelson, and Paul Giordano, VP of Digital Asset Management at Marathon. They delved into bitcoin's evolving role beyond being just a digital gold, exploring its utility in building the Web3 future.
Nelson posed an intriguing question about bitcoin's stability and utility amidst global volatility. He highlighted Michael Saylor's substantial investment in bitcoin through his company, MicroStrategy, and wondered if bitcoin's future value extends beyond being a mere store of value.
Paul Giordano agreed, emphasizing that bitcoin has indeed been the best store of value over the past 15 years. However, he pointed out that what's often overlooked is the bitcoin network's immense security and computing power. Giordano explained, "The bitcoin network is the most secure, powerful computer network in the world. Any application built on it benefits from unparalleled security and decentralization."
Giordano highlighted Marathon's innovative approach with their level two side chain called Anduro. This development will enable smart contracts on the bitcoin blockchain, leveraging the network's robust security and widespread diversification. "You'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.