exSat Network mainnet officially launched, with TVL exceeding 281 million USD

exSat Network is a scaling solution aimed at unlocking and expanding the Bitcoin ecosystem, officially announcing the launch of its mainnet on October 23, 2024, in Singapore. 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 Bitcoin has already been mined, Satoshi's vision remains largely unfulfilled. exSat aims to realize this vision by expanding Bitcoin's utility and unlocking a new class of real-world applications.

By collaborating with industry-leading companies such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, and ChainUp Cloud, the exSat mainnet has successfully launched with 41 validators, each staking at least 100 BTC. Validators protect the network by verifying transactions, while synchronizers (including Antpool, Spiderpool, viaBTC, and F2Pool) synchronize Bitcoin's UTXO data. These synchronizers account for over 53.4% of Bitcoin's hash rate, ensuring unparalleled trust and security.

As part of this launch, the XSAT token generation event has also taken place. XSAT is the network's token, combining the robust security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS). XSAT is based on the fair release principle of Bitcoin, with no pre-mining or pre-allocation, ensuring transparency and equality for all participants. XSAT is earned by mining native Bitcoin blocks and synchronizing and validating data on the network.

At launch, exSat's total locked value (TVL) exceeded $281 million, making it one of the largest projects in the Bitcoin ecosystem. Following the announcement of a partnership with Matrixport at Token2049, the TVL is expected to continue growing. Matrixport has committed to injecting 5,000 to 10,000 nBTC into the network. Additionally, Matrixport will assist in dApp development to help kickstart the exSat 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 Bitcoin's utility while maintaining trust and security, unlocking the emerging potential of the ecosystem.

For more information about the exSat network launch and to learn about upcoming developments, please visit exSat's Twitter and website .

About exSat Network

exSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin. 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.