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ZEC $1,338 Peter Todd joins MARA to lead private mempool Slipstream
The longtime Bitcoin Core contributor will run a service that sends transactions directly to MARA Pool, outside the public network.
Key takeaways
- Todd takes the lead. Peter Todd joined the MARA Foundation as lead maintainer of Slipstream, its private Bitcoin mempool service.
- 10,000 BTC moved. MARA said more than 10,000 BTC has been transferred from impacted wallets using the service.
- $115 million stolen. Hackers exploited Coldcard hardware wallets in July, stealing over $115 million in user funds.
What happened
Peter Todd has joined the MARA Foundation as lead maintainer of Slipstream, the organization's private Bitcoin mempool service. The foundation announced the role on Thursday. Todd will develop and run the service.
Slipstream lets users send bitcoin transactions straight to MARA Pool, the company's mining pool, without going through Bitcoin's public peer-to-peer network. Because those transactions stay private until they are confirmed in a block, the service helps keep key information hidden before confirmation and limits exposure of public keys.
Todd said he most looks forward to seeing what is possible on Bitcoin, using Slipstream as a proving ground for experimental development and protocol innovation.
Why it matters
The service drew attention during the response to the Coldcard firmware vulnerability, when some multisig users used Slipstream while moving funds from affected wallets. MARA said more than 10,000 BTC has been transferred from impacted wallets using the service.
MARA, a publicly traded bitcoin mining firm, has positioned Slipstream as infrastructure for Bitcoin research and development. Projects using the service have included work on quantum-resistant Bitcoin transactions and Binohash, a proposed method for emulating covenants without a Bitcoin soft fork.
Todd argues that mempool policy should follow what the market wants miners to mine, rather than restrict how people use Bitcoin. He has made a similar case for relay policy, saying it should reflect market demand rather than impose unnecessary restrictions on transaction types.
What the data shows
- Hackers exploited Coldcard hardware wallets in July, stealing over $115 million in user funds.
- MARA said more than 10,000 BTC has been transferred from impacted wallets using the service.
- MARA's Slipstream first drew attention in 2024 for publishing large Ordinals inscriptions.
Background
- Todd is a longtime Bitcoin Core contributor who co-authored BIP 125 (replace-by-fee), created OpenTimestamps, and in 2024 launched Libre Relay, a Bitcoin Core fork with looser relay rules for non-standard transactions.
- In 2024, HBO's documentary Money Electric: The Bitcoin Mystery fingered Todd as Satoshi, based on clues from a forum post, his writing style and other potential indicators. Todd has consistently denied being the creator of the largest cryptocurrency by market cap, writing on X in 2024 that he is not Satoshi.
Questions readers ask
What is Slipstream?
Slipstream is MARA's private Bitcoin mempool service. It lets users send transactions straight to MARA Pool without going through Bitcoin's public peer-to-peer network, so transactions stay private until they are confirmed in a block.
Who is Peter Todd?
Todd is a longtime Bitcoin Core contributor. He co-authored BIP 125 (replace-by-fee), created OpenTimestamps, and launched Libre Relay in 2024.
Why did some Coldcard users use Slipstream?
Hackers exploited Coldcard hardware wallets in July, stealing over $115 million in user funds. Some multisig users used Slipstream while moving funds from affected wallets, and MARA said more than 10,000 BTC was transferred from impacted wallets using the service.
Is Peter Todd Satoshi Nakamoto?
A 2024 HBO documentary fingered Todd as Satoshi, based on clues from a forum post, his writing style and other indicators. Todd has consistently denied it, writing on X in 2024 that he is not Satoshi.
