Marathon Digital Launches "Slipstream" to Expedite Bitcoin Transactions Ahead of Anticipated Halving
Summary:
Marathon Digital Holdings, a leading Bitcoin mining firm, has introduced a direct Bitcoin transaction service, "Slipstream," designed to expedite large or complex transactions. The new service adds complex transactions to the blockchain, given compliance with Bitcoin's protocol. The Las Vegas-based company has amongst the largest Bitcoin miners globally and, despite potential fluctuations from the upcoming Bitcoin halving in April, Marathon reportedly controls a significant cache exceeding 15,000 BTC. The firm's early initiatives put it ahead of its rival, Riot Platforms, in anticipation of the halving.
Based in Las Vegas, Nevada, Marathon Digital Holdings, a prominent player in Bitcoin mining and digital asset technology, has recently introduced a new direct Bitcoin transaction forwarding service, "Slipstream." The newly implemented service is designed to expedite bulky and atypical Bitcoin transactions. Standard Bitcoin transactions that are either too voluminous for the blockchain or too intricate often face delays, which can inconvenience those dealing in larger-than-average transactions or frequent transactions. As per a press statement accessed by Cointelegraph, the "Slipstream" service provided by Marathon Digital has been built and tested to navigate these impediments. The service is equipped to accept complex Bitcoin transactions and integrate them onto the blockchain, granted they comply with Bitcoin's protocol. This is made possible owing to Marathon's scale, mining pool, and technological proficiency.
Marathon Digital is counted among the world's most resolute and extensive Bitcoin miners. As reported by Cointelegraph, it set an internal record in December 2023, mining 1,853 bitcoins. This accomplishment culminated in a year where the company mined a whopping 12,852 bitcoins, translating into more than half a billion dollars.
A countdown has initiated for the ensuing Bitcoin halving, speculated to happen somewhere around the third week of April. This estimate is based on calculations considering the residual number of blocks and the current average mining time. Majority of analysts foresee a subsequent surge in the price of the bitcoin asset post this event. Yet the manner in which halving will impact miners remains nebulous. History has seen Bitcoin witness sharp surges after previous halvings. However, as the term "halving" insinuates, the rewards for mining a block on the Bitcoin blockchain will be slashed by 50%, reducing them from 6.25 BTC to 3.125 BTC per block.
Post-April halvings have traditionally been turbulent events, often leading to adjustments within the mining community, with some miners veering towards other cryptocurrencies. Despite this, it should be noted that Marathon Digital purportedly has control over more than 15,000 BTC forming part of a cash reserve exceeding $1 billion.
Despite some industry insiders suggesting that close U.S. competitor Riot Platforms may have an advantageous position in the long term, Marathon has paradoxically seized an early edge in the lead-up to the anticipated event in April.
Published At
2/22/2024 7:37:10 PM
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