ExSat Network, an expansion solution aimed at unlocking and expanding the Bitcoin ecosystem, announced the official launch of its mainnet on October 23, 2024, in Singapore. This milestone signifies an important step for the ExSat community and the broader blockchain ecosystem.
Satoshi Nakamoto envisioned Bitcoin as a revolutionary alternative to traditional financial systems, providing users with greater freedom, control, and security. While 94% of Bitcoin has already been mined, Satoshi’s vision has yet to be fully realized. ExSat aims to achieve this vision by expanding the utility of Bitcoin and unlocking a new class of real-world applications.
Through partnerships with leading industry players such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody, ExSat’s mainnet has launched smoothly, with 41 validators, each pledging a minimum of 100 BTC. Validators protect the network by validating transactions, while synchronizers (including Antpool, Spiderpool, viaBTC, and F 2 Pool) synchronize Bitcoin’s UTXO data. These synchronizers account for more than 53.4% of the Bitcoin hash rate, ensuring unparalleled trust and security.
As part of this release, the XSAT token generation event has also taken place. XSAT is the token of the network, combining the powerful security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS). XSAT follows the fair launch principles of Bitcoin, with no pre-mining or pre-allocation, ensuring transparency and equality for all participants. XSAT is obtained through mining native Bitcoin blocks, synchronizing, and validating data on the network.
ExSat launched with a total locked value (TVL) of over $281 million, making it one of the largest projects in the Bitcoin ecosystem. With the announcement of the partnership with Matrixport at Token 2049, the TVL is expected to continue growing. Matrixport has committed to investing 5,000 to 10,000 nBTC into the network. Additionally, Matrixport will assist with dApp development to help kickstart ExSat’s ecosystem.
By mirroring Bitcoin’s UTXO data on-chain, the network stands out in creating a decentralized UTXO index for Bitcoin. This breakthrough enables BTCFi, expanding the practicality of Bitcoin while maintaining trust and security, unlocking the emerging potential of the ecosystem.
For more information about the ExSat network release and upcoming developments, please visit the ExSat Twitter and website.
About ExSat Network
ExSat is committed to addressing the scalability and interoperability challenges of Bitcoin. By implementing a data consensus expansion protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), ExSat aims to enhance data consensus, scalability, security, and interoperability within the BTC ecosystem.
