Bitcoin-Based exSat Network (XSAT) Announces Mainnet Launch

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As a seasoned researcher with over two decades of experience in the tech and blockchain industry, I must admit that the launch of exSat Network (XSAT) mainnet operation is a groundbreaking event. Having witnessed numerous projects come and go, it’s refreshing to see one backed by heavyweights in the industry, with such a strong focus on Bitcoin’s DeFi potential for the next generation of users.

The Bitcoin-aligned exSat Network (XSAT) unveils the launch of its complete mainnet functions. This project, backed by several prominent figures in the industry, aims to make Decentralized Finance (DeFi) associated with Bitcoin more approachable, advantageous, and inclusive for future generations of users.

Bitcoin (BTC) scaling protocol exSat Network (XSAT) launches on mainnet

As reported by their team, the innovative scaling solution called exSat Network (XSAT) has initiated the functioning of its main network on the world’s largest blockchain, Bitcoin (BTC). In just 24 hours after launching, the total value locked (TVL) in equivalent terms skyrocketed to an impressive $270 million.

The primary network for ExSat has now officially gone live 🔥

With support from more than 41 validators, the future of Bitcoin-like currency is now a reality, including the network’s native token, $XSAT, which follows the fair launch principles similar to Bitcoin.

— exSat Network (@exSatNetwork) October 23, 2024

As a member of the exSat (XSAT) community, I’m thrilled about the recent milestone we’ve reached, which I believe signifies a substantial leap not just for us but also for the wider Bitcoin (BTC) blockchain ecosystem and the world of cryptocurrencies beyond it.

As part of our strategic partnerships, I’ve been fortunate to work alongside some of the top names in the industry, including Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus Custody, and several others. These collaborations have significantly strengthened our position within the crypto sphere.

As I observed from my end, the network successfully launched without any hiccups, boasting an impressive 30 validator nodes. Each operator involved had committed a minimum of 100 Bitcoins (BTC), translating to approximately $7 million for each participant, thereby fortifying our network’s security.

Furthermore, the ExSat Network (XSAT) is supported by a wide array of synchronizers such as Antpool, Spiderpool, viaBTC, and F2Pool, all dedicated to synchronizing Bitcoin’s UTXO data. Collectively, these synchronizing nodes for XSAT make up approximately 60% of the active Bitcoin hashrate.

Paving way for secure and fast BTCFi

In addition to the initiation of operations, there was also an occasion where XSAT tokens were produced. The XSAT token is significant as it oversees governance and offers utility within the network, combining the strong security features of Proof of Work (PoW) with the adaptable functionality of Proof of Stake (PoS).

As a crypto investor, I’ve found that XSAT closely mirrors the fair launch principles of Bitcoin, meaning it was neither premined nor preallocated. This guarantees transparency and equal opportunities for all participants in the market. The unique thing about XSAT is that it can be mined by contributing to the native Bitcoin blockchain, specifically by verifying and validating data on the network.

With a whopping $270 million in assets secured (TVL), the relatively new project, exSat, has quickly become one of the most significant ventures within the Bitcoin community, even though it’s still in its early stages.

By having these catalysts, ExSat Network (XSAT) stands ready to play a crucial role in making it easier to utilize Bitcoin’s programming capabilities and develop innovative apps within the BTCFi sector.

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2024-10-24 16:19