The exSat community, designed to enhance the scalability of Bitcoin, launched its mainnet. The launch additionally launched the XSAT token, which will likely be mined on each block, rewarding validators who safe the community. exSat’s revolutionary method goals to make Bitcoin extra scalable, by integrating Bitcoin’s information consensus throughout completely different blockchains to assist multi-chain decentralized functions (dApps).
exSat Strengthens Bitcoin’s Scaling Potential
Bitcoin mainnet scaling is among the many most bold amongst builders seeking to broaden the variety of transactions per second, cut back community prices, and open up new use instances. exSat is exclusive from different Layer 2 options in that it permits Bitcoin transaction information to speak immediately with numerous good contract blockchains to construct decentralized functions that leverage Bitcoin safety and different chains’ throughput.
exSat’s mission to scale Bitcoin has acquired widespread assist from key trade gamers. Validators equivalent to Everstake, HashKey Cloud, InfinityStones, SpiderPool and Treis Blockchain actively take part in securing the community. Main Bitcoin mining swimming pools, together with Antpool and viaBTC, sync Bitcoin’s UTXO information, guaranteeing sturdy integration with Bitcoin’s core infrastructure.
Broad trade assist and $200 million in TVL
It has already raised $200 million in TVL, together with 5,000 and 10,000 BTC in tokenized Bitcoin belongings. The liquidity will act as the inspiration of the monetary providers developed on the exSat community, together with the DeFi functions: buying and selling, lending and staking. Moreover, the exSat protocol is anticipated to allow tokenized Actual-World Belongings, equivalent to renewable power, mixed with Bitcoin’s Proof-of-Work consensus. exSat introduces a hybrid consensus mechanism that features each Proof-of-Work and Proof-of-Stake to supply builders with a sturdy and extremely scalable framework. Additional decentralization of state information indexing improves the performance of good contracts, permitting builders to construct superior functions on the Bitcoin-based community. Now that the mainnet is reside, builders are being referred to as upon to discover the options exSat provides and construct new functions.