blockchainreporter.net
The exSat Network, designed to enhance Bitcoin’s scalability, launched its mainnet. The launch also introduced the XSAT token, which will be mined on every block, rewarding validators securing the network. exSat’s innovative approach seeks to make Bitcoin more scalable, integrating Bitcoin’s data consensus across various blockchains to support multichain decentralized applications (dApps).
exSat Empowering Bitcoin’s Scaling Potential
Mainnet scaling of Bitcoin has been among the most ambitious by developers seeking to expand the number of transactions per second, reduce network fees, and open up new use cases. exSat is unique from other Layer 2 solutions because it allows Bitcoin’s transactional data to interact directly with different smart contract blockchains to build decentralized applications that utilize Bitcoin security and other chains’ throughput.
exSat’s mission to scale Bitcoin has garnered widespread support from key industry players. Validators such as Everstake, HashKey Cloud, InfinityStones, SpiderPool, and Treis Blockchain are actively participating in securing the network. Leading Bitcoin mining pools, including Antpool and viaBTC, are synchronizing Bitcoin’s UTXO data, ensuring strong integration with Bitcoin’s core infrastructure.
Wide Industry Support and $200M in TVL
It has already raised $200M in TVL, including 5,000 and 10,000 BTC worth of tokenized Bitcoin assets. The liquidity will act as the foundational block of the financial services developed on the exSat network, including the DeFi applications: trading, lending, and staking. Furthermore, the exSat protocol is expected to allow tokenized Real-World Assets such as renewable energy paired with the Proof-of-Work consensus of Bitcoin. exSat introduces a hybrid consensus mechanism that includes both Proof-of-Work and Proof-of-Stake to provide developers with a robust and highly scalable framework. Further decentralizing state data indexing enhances smart contract functionality, thus enabling developers to build advanced applications on the Bitcoin-based network. Now that the mainnet is live, developers are called upon to explore the features exSat offers and build new applications.