The Good Tech Companies - MatrixPort And exSat Announce Strategic Partnership to Drive Bitcoin Ecosystem Innovation

Episode Date: September 18, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/matrixport-and-exsat-announce-strategic-partnership-to-drive-bitcoin-ecosystem-innovation. Users can convert native BTC to nBTC via MatrixPort and utilize it on exSat for various BTCFi applications such as staking, lending, and trading. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #web3, #matrixport, #chainwire, #press-release, #blockchain-development, #matrixport-announcement, #bitcoin-scalability, #good-company, and more. This story was written by: @chainwire. Learn more about this writer by checking @chainwire's about page, and for more stories, please visit hackernoon.com. MatrixPort, a leading digital asset financial services platform and exSat, a breakthrough Bitcoin scalability solution, have entered into a comprehensive strategic partnership. By leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem. MatrixPort will provide nBTC on the exSat platform, a new Wrapped BTC version of the product that is 1:1 anchored with Bitcoin.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Matrixport and Exad announced strategic partnership to drive Bitcoin ecosystem innovation by Chainwire. Singapore, Singapore, September 18, 2024, Chainwire, Matrixport, a leading digital asset financial services platform and Exad, a breakthrough Bitcoin scalability solution, have entered into a comprehensive strategic partnership. By leveraging their respective strengths, they aim to accelerate the growth and application of the Bitcoin ecosystem, marking the start of a new era in Bitcoin development.

Matrixport, a global one-stop digital asset financial services platform, brings extensive industry experience, robust technology, and a large user base to offer secure, convenient, and efficient digital asset trading and wealth management services. Exat Network focuses on developing unique scalability solutions for Bitcoin. Through the unique on-chain UTXO data index, one-second instant transaction confirmation, and secure asset custody solutions, it provides the Bitcoin network with more powerful scalability, functionality and interoperability, enabling new Bitcoin application scenarios. This powerful collaboration plays to the advantages of both

parties and brings multiple benefits to the Bitcoin ecosystem. Matrixport's expertise and user base will support the rapid development of Exat, while Exat's innovative technology will offer Matrixport users more investment options and a superior experience. Together, they are committed to driving Bitcoin adoption and utility, revitalizing the Bitcoin ecosystem, and creating more value for users worldwide. This strategic partnership will focus on the following key areas. Unlocking Bitcoin liquidity. Ushering in a new era of BTC-FI matrixport will provide NBTC on the Exat platform, a new wrapped BTC version of the product that is one-to-one anchored with Bitcoin.

They plan to provide 5,000 to 10,000 NBTC on the Exat mainnet to boost liquidity and support Exat's POW plus POS consensus mechanism. The issuance of NBTC will become a bridge connecting Bitcoin and the Exat ecosystem, achieving seamless interoperability. Users can convert native BTC to NBTC via Matrixport and utilize it on Exat for various BTC-FI applications such as staking, lending, and trading. The issuance of NBTC holds significant implications in a context where 94% of Bitcoin has already been mined. Unlocking Bitcoin liquidity. Bringing dormant Bitcoin assets into the DeFi space and injecting liquidity into the XAD platform. Expanding Bitcoin application scenarios. Utilizing XAD as a bridge to open up broader

application scenarios for Bitcoin. Enhancing Bitcoin user experience, leveraging Exat's efficiency, providing Bitcoin users with more convenient, fast, and cost-effective transaction and wealth management services, promoting the popularization and utility of Bitcoin. Empowering innovation and expanding the EXSAT Mainnet ECO system matrix port will focus on driving the vigorous development of, trading, and lending applications on the Exat chain, offering users more diverse financial services and investment options while enhancing on-chain asset liquidity. Real-world assets, RWA, facilitating the tokenization of real-world assets, such as renewable energy assets, on the Exat platform, combining Bitcoin digital assets with RWAs to unlock new liquidity and value.

Cross-chain interoperability, connecting XSAT with the BTC ecosystem, and promoting a wider distribution of value. This strategic collaboration will offer ecosystem developers comprehensive support, including technical guidance, marketing, and more, helping turn their innovative ideas into reality and promoting the prosperity of the XAD ecosystem. Together, Matrixport and XAD will create more value for Bitcoin ecosystem participants, realizing the preservation and appreciation of digital assets, and ensuring sustainable, decentralized, and secure growth for Bitcoin. Building a secure Bitcoin ecosystem to protect user ASAS SETS Matrixport

and Exat recognize that security is the cornerstone of Bitcoin co-system development. They will collaborate strategically to build an unbreakable on-chain security defense, safeguarding user assets. The partnership will integrate Matrixport's extensive security experience and Exat's leading blockchain technology to enhance security in multiple areas. Multi-signature technology application. The two parties will jointly explore and apply more decentralized multi-signature technology to provide users with safer asset management solutions and ensure the safety of user assets. Security specification formulation. The two parties will jointly formulate and promote BTC asset security

specifications and risk control systems, improve the security awareness and prevention capabilities of the entire ecosystem, and jointly maintain the security of users' assets. Security Monitoring Cooperation. EXAT will use Matrixport's rich security experience and resources to conduct comprehensive security risk monitoring OFBTC assets issued on the XSAT platform, identify potential risks and control risks in time, and ensure that the platform's security meets the highest industry standards. Matrixport and XSAT firmly believe that a secure and reliable Bitcoin ecosystem is essential for users to participate confidently and enjoy the value and opportunities brought by Bitcoin.

Together, they will continuously improve security measures, safeguard user assets, and promote the healthy growth of the Bitcoin ecosystem. About EXSA, TechSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin. By implementing a data consensus extension protocol that combines proof-of-work, POW, and proof-of-state, POS, XSAT aims to enhance BTC's data consensus, scalability, security, and interoperability within the ecosystem. For more information, visit XSAT Network and join XSAT on X-Contact CMO Tristan Dickinson XSATriston. Dickinson at XSAT.org. Tip This story was distributed as a release by Chainwire under HackerNoon's business blogging program. Learn more about the program

here. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.