Singapore, Singapore, October 23rd, 2024,
Chainwire
exSat Network, a scaling solution designed to unlock and scale
the Bitcoin ecosystem, is pleased to announce its official mainnet
launch today. This milestone marks a significant step for the exSat
community and the broader blockchain ecosystem.
Satoshi envisioned Bitcoin as a revolutionary alternative to
traditional financial systems, giving users greater freedom,
control and security. While 94% of Bitcoin has already been mined,
Satoshi’s vision remains largely unrealized. exSat is purpose built
to bring that vision to life through scaling Bitcoin’s utility and
unlocking a new class of real-world applications.
In collaboration with leading industry names such as Matrixport,
Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX,
BitTrade, Bitget, ChainUp Cloud, Cactus Custody and others, exSat’s
mainnet launched smoothly with 41 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 53.4% of Bitcoin’s hash rate,
ensure unmatched trust and security.
As part of this 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). 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.
Launching with over $281 million in Total Value Locked (TVL),
exSat has emerged as one of the largest projects in the Bitcoin
ecosystem. Following the announcement of the Matrixport partnership
at Token2049, TVL is expected to continue to grow. 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.
By mirroring Bitcoin’s UTXO data on-chain, the network stands
alone in its ability to create 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.
For more information about the exSat Network launch and to stay
updated on upcoming developments, visit exSat Twitter and website.
About exSat Network
exSat is dedicated to addressing the scalability and
interoperability challenges of Bitcoin. 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.
Contact
CMO
Tristan
Dickinson
exSat
tristan.dickinson@exsat.org