Marathon Digital Holdings (MARA), a leading Bitcoin (BTC) mining company, has announced the introduction of Slipstream, a direct transaction submission service designed to streamline the processing of Bitcoin transactions.
This new offering is set to transform the way large and non-standard transactions are confirmed, addressing the common delays and complexities encountered by users.
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According to Marathon, these transactions, if they meet a certain fee threshold and adhere to the Bitcoin network's consensus rules, will be promptly added to the miner's mempool, ensuring faster processing.
This launch addresses a significant gap in the market, as until now, users seeking to process such transactions often had to resort to less formal methods, such as direct communication via email or social media.
Marathon Digital stands out as the first Bitcoin mining entity to introduce such a service because it is the only one operating its proprietary mining pool, MARA Pool.
This unique position allows Marathon to customize its pool settings to accommodate a wider array of transactions, setting a new standard for flexibility in Bitcoin mining.
Marathon's Chairman and CEO, Fred Thiel, commented on this unique ability to offer these services:
Slipstream is a prime example of Marathon leveraging its proprietary technology stack to create a product or service that we believe can help Bitcoin innovators push the industry forward. <...> <It> provides sophisticated users with a simple, transparent, and trusted means of adding complex Bitcoin transactions to the blockchain, provided they adhere to Bitcoin’s protocol.
However, the initiative has sparked discussions around the potential for transaction censorship, a contentious issue in the crypto community.
Marathon has addressed these concerns by establishing terms of service for Slipstream that bar any unauthorized copyrighted or objectionable material, ensuring a balance between innovation and responsible operation.
With Slipstream, Marathon Digital not only aims to enhance transaction processing on the Bitcoin network but also to foster innovation and development within the cryptocurrency space.
In July 2023, however, the company was dealing with challenges. MARA's CEO and a team of nine other leaders of the company were facing a lawsuit, as shareholders accused them of several charges, including breaches of fiduciary duties, inappropriate enrichment, and mishandling corporate resources.
