exSat Network officially launched its mainnet today to improve Bitcoin’s scalability and enable more real-world uses. The launch represents a big step toward fulfilling Satoshi Nakamoto’s vision of Bitcoin as more than just digital money.
As part of the launch, the platform has teamed up with major players in the blockchain space like Matrixport, Antpool, and Everstake, along with 30 validators who have staked at least 100 BTC each to help secure the network.
These validators work to confirm transactions, while major Bitcoin mining pools such as viaBTC and F2Pool synchronize Bitcoin’s UTXO (Unspent Transaction Output) data.
exSat has also introduced a new token called XSAT during the launch. According to the team, ‘XSAT serves as the token for the Network, combining the robust security of Proof of Work (PoW) with the flexible functionality of Proof of Stake (PoS).”
XSAT is earned by mining Bitcoin blocks and helping secure the network through validation. According to the press release, the launch has attracted more than $270 million in Total Value Locked (TVL), making exSat one of the largest Bitcoin-based projects at this stage.
Furthermore, Matrixport has also announced plans to stake between 5,000 to 10,000 nBTC, and will also support the development of decentralized applications (dApps) on the network, helping to kickstart exSat’s ecosystem.
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