The Good Tech Companies - Bitcoin Scaling Solution exSat Network Launches Mainnet with $281M TVL

Episode Date: October 23, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/bitcoin-scaling-solution-exsat-network-launches-mainnet-with-$281m-tvl. ExSat Network launched its mainnet today with $281 million in Total Value Locked (TVL) The network launched with 50 validators. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #blockchain, #dlt, #cryptocurrency, #web3, #exsat-network, #exsat-network-news, #announcement, #good-company, and more. This story was written by: @ishanpandey. Learn more about this writer by checking @ishanpandey's about page, and for more stories, please visit hackernoon.com. ExSat Network launched its mainnet today with $281 million in Total Value Locked (TVL) The network launched with 50 validators, each staking a minimum of 100 BTC, supported by major industry participants. The platform's synchronizers, representing 53.3% of Bitcoin's hash rate, include prominent mining pools Antpool, Spiderpool, viaBTC, and F2Pool.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Bitcoin Scaling Solution Exat Network Launches Mainnet with $281 Million TVL by Ashan Pandey Exat Network, a Bitcoin scaling protocol, launched its mainnet today with $281 million in total value locked TVL, marking a significant development in Bitcoin's infrastructure expansion. The network launched with 50 validators, each staking a minimum of 100 BTC, supported by major industry participants including Matrixport, Spiderpool, Antpool, and OKEx. The platform synchronizers, representing 53.3% of Bitcoin's hash rate include prominent mining pools Antpool, Spiderpool, via BTC,

and F2Pool. Bitcoin's original vision of financial accessibility remains partially unrealized due to scaling limitations, said a spokesperson from Exat Network. Our solution addresses these constraints while maintaining Bitcoin's fundamental security principles, technical infrastructure and security framework. The network implements a dual consensus mechanism, combining Bitcoin's proof-of-work POW with proof-of-stake POS. A key technical feature is the creation of a decentralized UTXO index for Bitcoin, enabling expanded functionality while maintaining security standards. The platform's security architecture leverages 50 active validators working in conjunction with multiple synchronizers from established

mining pools, alongside the integration of Bitcoin's UTXO data on-chain. The robust security framework ensures network integrity through a multi-layered approach. Each validator maintains network consensus while synchronizers handle the critical task of maintaining accurate UTXO data alignment with the Bitcoin network. This dual validation system creates a comprehensive security environment that preserves the trustless nature of the Bitcoin ecosystem, industry participation and market impact. Matrixport, following its partnership announcement at Token 2049, has committed to stake between 5,000 and 10,000 NBTC. The firm will also contribute to de-veloping decentralized applications on the platform, strengthening TheNetwork's utility and adoption potential. This collaboration represents

a significant vote of confidence from a major industry player and sets the stage for future institutional participation. With $281 million TVL at launch, XSAT has established itself as a significant player in the Bitcoin ecosystem. The network's focus on Bitcoin scalability comes as the cryptocurrency approaches its 94% mining completion milestone, addressing crucial timing in Bitcoin's evolution. Token Launch and Distribution The XSAT token, launched alongside the mainnet, follows Bitcoin's distribution model with no pre-mining or pre-allocations. Token distribution occurs through network participation, with tokens earned through

mining native Bitcoin blocks, synchronizing network data, and validating transactions. This approach ensures fair distribution and aligns incentives across all network participants. Industry observers note that Exat's approach to scaling Bitcoin while maintaining decentralization principles could influence future blockchain infrastructure development. The combination of substantial initial TVL, significant hashrate participation, and robust validator involvement positions the network as a noteworthy development in Bitcoin's scaling journey. The launch represents a meaningful step toward addressing Bitcoin's scalability challenges while maintaining its core security features.

Market participants will be monitoring the network's performance and adoption metrics in the coming months, particularly focusing on transaction throughput, validator participation rates, and ecosystem development. Don't forget to like and share the story. Tip Vested Interest Disclosure. This author is an independent contributor publishing via our business blogging program. Hacker Noon has reviewed the report for quality, but the claims herein belong to the author. Hashtag D-Y-O-R. Thank you for listening to this Hacker Noon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.