exSat Network mainnet is officially launched, TVL exceeds 281 million US dollars

exSat Network, a scaling solution designed to unlock and expand the Bitcoin ecosystem, announced the official launch of its mainnet on October 23, 2024 in Singapore. This milestone marks a major 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 unfulfilled. exSat aims to realize this vision by extending Bitcoin’s utility and unlocking a new class of real-world applications.

In partnership with industry leaders such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus Custody, exSat's mainnet has been successfully launched with 41 validators, each staking at least 100 BTC. Validators secure the network by verifying transactions, while synchronizers (including Antpool, Spiderpool, viaBTC, and F2Pool) synchronize Bitcoin's UTXO data. These synchronizers account for more than 53.4% of Bitcoin's hash rate, ensuring unparalleled trust and security.

As part of this launch, the XSAT Token Generation Event has also been held. XSAT is the network's token, combining the strong security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS). Modeled after Bitcoin’s 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 value locked (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 on Token2049 of a partnership with Matrixport. Matrixport has committed to commit 5,000 to 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 enables BTCFi, 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 the exSat Network

exSat is dedicated to solving Bitcoin's 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.