exSat Network, a scaling solution designed to unlock and expand the Bitcoin ecosystem, announced the official launch of its mainnet in Singapore on October 23, 2024. This milestone marks an important step for the exSat community and the broader blockchain ecosystem.
Satoshi Nakamoto envisioned Bitcoin as a revolutionary alternative to the traditional financial system, providing users with greater freedom, control, and security. While 94% of all Bitcoins have been mined, Satoshi’s vision remains largely unrealized. exSat aims to realize this vision by extending Bitcoin’s utility and unlocking a new class of real-world applications.
By partnering with industry leaders such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus Custody, exSats mainnet was successfully launched with 41 validators, each with at least 100 BTC staked. Validators secure the network by verifying transactions, while synchronizers (including Antpool, Spiderpool, viaBTC, and F2Pool) synchronize Bitcoins UTXO data. These synchronizers account for more than 53.4% of Bitcoins hash rate, ensuring unparalleled trust and security.
As part of the launch, the XSAT token generation event was also held. XSAT is the networks token, combining the strong security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS). Modeled after Bitcoins fair launch principles, XSAT has no pre-mine or pre-allocation, ensuring transparency and equality for all participants. XSAT is earned by mining native Bitcoin blocks, syncing and validating data on the network.
With a total locked value (TVL) of over $281 million at launch, exSat has become one of the largest projects in the Bitcoin ecosystem. TVL is expected to continue to grow following the announcement of a partnership with Matrixport on Token 2049. Matrixport has pledged to stake between 5,000 and 10,000 nBTC to the network. In addition, Matrixport will assist with dApp development to help kick-start exSat’s ecosystem.
By mirroring Bitcoin’s UTXO data on-chain, the network is unique in creating a decentralized UTXO index for Bitcoin. This breakthrough makes BTCFi possible, expanding Bitcoin’s utility while maintaining trust and security, unlocking the ecosystem’s emerging potential.
For more information on the exSat network launch and to stay up to date on upcoming developments, visit the exSat Twitter and website .
About exSat Network
exSat is committed to solving Bitcoins scalability and interoperability challenges. By implementing a data consensus scaling 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.
