Bitcoin-based exSat Network (XSAT) announces the full-fledged release of its mainnet operations. Backed by a number of industry heavyweights, the solution is focused on making Bitcoin’s DeFi accessible, beneficial and inclusive for the next generation of users.
Bitcoin (BTC) scaling protocol exSat Network (XSAT) launches on mainnet
According to the official statement by its team, exSat Network (XSAT), a novel scaling protocol for the largest blockchain, Bitcoin (BTC), launched the operations of its mainnet. In its first 24 hours upon launch, its TVL jumped to $281 million in equivalent.
According to the estimations of its team, the recent milestone marks a significant step for the exSat (XSAT) community and the broader blockchain ecosystem of Bitcoin (BTC) and beyond.
The launch happened in a strategic collaboration with leading industry names such as Matrixport, Spiderpool, Antpool, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, Cactus Custody and others.
The network went live smoothly with 30 validator nodes. Each node operator staked a minimum of 100 Bitcoins (BTC) to secure the network, which is roughly equal to $7 million per entity.
Also, exSat Network (XSAT) is backed bya  broad ecosystem of synchronizers, including Antpool, Spiderpool, viaBTC and F2Pool tasked with sycnronization of Bitcoin’s UTXO data. In total, exSat Network (XSAT) synchronizing nodes represent 60% of the active BTC hashrate.
Paving way for secure and fast BTCFi
Besides operations onset, an XSAT token generation event took place. XSAT serves as the dominant governance and utility token for the network, combining the robust security of proof of work (PoW) with the flexible functionality of proof of stake (PoS).Â
XSAT was modeled after Bitcoin’s fair launch principles, with no premining or preallocations, ensuring transparency and equality for all participants. XSAT is earned by mining native Bitcoin blocks, and synchronizing and validating data on the network.Â
Launching with over $281 million in total value locked (TVL), exSat has emerged as one of the largest projects in the Bitcoin ecosystem despite being in its very infancy.
With all these catalysts, exSat Network (XSAT) is poised to be of a paramount importance to unlocking Bitcoin’s programmability and new dApps in the BTCFi segment.
