exSat Network, a scaling solution that aims to unleash and scale the Bitcoin ecosystem, is excited to announce the official mainnet launch today. The exSat community and the larger blockchain ecosystem are taking a big step forward with this milestone.
According to Satoshi, Bitcoin will revolutionize conventional financial institutions by providing consumers with more security, freedom, and power. The majority of Satoshi’s vision has not yet been achieved, even though 94% of Bitcoin has now been mined. ExSat was created specifically to realize that goal by expanding the usefulness of Bitcoin and opening up a new category of practical uses.
With 50 Validators, each staking at least 100 BTC, exSat’s mainnet launched without a hitch thanks to partnerships with top industry brands including Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody. While synchronizers, such as Antpool, Spiderpool, viaBTC, and F2Pool, synchronize Bitcoin’s UTXO data, validators safeguard the network by verifying transactions. These synchronizers, which account for more than 53.3% of Bitcoin’s hash rate, provide unparalleled security and confidence.
The XSAT token generation event was held in conjunction with this launch. As the Network’s token, XSAT combines the adaptability of Proof of Stake (PoS) with the strong security of Proof of Work (PoW). Since XSAT was modeled with no pre-mining or pre-allocations, it adheres to the fair launch principles of Bitcoin, guaranteeing equality and transparency for all users. By syncing and verifying data on the network and mining native Bitcoin blocks, one may earn XSAT.
ExSat, one of the biggest projects in the Bitcoin ecosystem, was launched with more than $281 million in Total Value Locked (TVL). TVL is anticipated to keep expanding after the Matrixport alliance was announced at Token2049. Staking between 5,000 and 10,000 nBTC on the network is what Matrixport has committed to do. Matrixport will also aid with dApp development, which will help exSat’s ecosystem get off the ground.
The network is unique in its capacity to provide a decentralized UTXO index for Bitcoin by replicating its UTXO data on-chain. This innovation makes BTCFi possible, increasing the usefulness of Bitcoin while preserving security and trust and releasing the ecosystem’s untapped potential.
Visit the exSat website and Twitter to learn more about the launch of the exSat Network and to be informed about future developments.
