Hassan Maishera
exSat Network, a scaling solution designed to unlock and scale the Bitcoin ecosystem, announced on Wednesday, October 23rd, that its mainnet is now live. This latest development marks a significant step for the exSat community and the broader blockchain ecosystem.
In a press release shared with Cryptowisser, exSat said the mainnet launch went smoothly thanks to its partnership with leading industry names such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus Custody and others.
At mainnet launch, exSat had 30 30 Validators, each staking a minimum of 100 BTC. Validators secure the network by validating transactions, while synchronizers, including Antpool, Spiderpool, viaBTC, and F2Pool, synchronize Bitcoin’s UTXO data. These synchronizers, representing over 60% of Bitcoin’s hash rate, ensure unmatched trust and security.
In addition to the mainnet launch, the XSAT token generation event took place. XSAT serves as the token for the Network, combining the robust security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS).
According to the team, XSAT was modeled after Bitcoin’s fair launch principles, with no pre-mining or pre-allocations, ensuring transparency and equality for all participants. XSAT is earned by mining native Bitcoin blocks, synchronizing and validating data on the network.
exSat launched with over $270 million in Total Value Locked (TVL), making it one of the largest projects in the Bitcoin ecosystem. According to the team, the TVL is expected to grow as Matrixport has committed to staking 5,000 to 10,000 nBTC into the network. Additionally Matrixport will assist with dApp development, helping to kickstart exSat’s ecosystem.
exSat network is unique as it enables the creation of a decentralized UTXO index for Bitcoin. This breakthrough enables BTCFi, expanding Bitcoin’s utility while maintaining trust and security, unlocking the ecosystem’s nascent potential.
exSat is dedicated to addressing Bitcoin's scalability and interoperability challenges. By implementing a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat aims to enhance BTC’s data consensus, scalability, security, and interoperability within the ecosystem.
