The post exSat Network Mainnet Launches with $270M in TVL, Expanding Bitcoin’s Utility appeared on BitcoinEthereumNews.com.

Key highlights: exSat Network mainnet is live with over 30 validators securing the platform using Bitcoin and the XSAT token. Validators include major pools like Antpool, synchronizing over 60% of Bitcoin’s hash rate for enhanced security. With $270M in TVL, exSat expands Bitcoin’s use cases, including decentralized finance and complex smart contracts. exSat Network scales Bitcoin’s potential exSat Network, a scaling solution designed to enhance Bitcoin’s utility, has officially launched its mainnet in this announcement. This milestone marks a significant moment for both the exSat community and the wider blockchain ecosystem, as it brings new opportunities to the Bitcoin network, which has long been limited in its capabilities. #exSat mainnet has officially launched 🔥 Backed by over 41 validators, the future of #Bitcoin is here, along with the network’s native token, $XSAT, modeled after #BTC’s fair launch principles. pic.twitter.com/xB48hpUM1C — exSat Network (@exSatNetwork) October 23, 2024 Satoshi Nakamoto envisioned Bitcoin as a revolutionary alternative to traditional financial systems, giving users greater freedom, control and security. While 94% of Bitcoin’s supply has already been mined, we’re still far from mining the last Bitcoin, and the network’s potential is still underutilized. The exSat Network aims to address this by scaling Bitcoin’s infrastructure and creating new use cases through its innovative architecture. By utilizing a hybrid consensus model that blends Proof of Work (PoW) and Proof of Stake (PoS), exSat ensures a high level of security and flexibility. Major partnerships and validator participation In its initial phase, the exSat mainnet launched with over 30 validators, each staking at least 100 BTC, ensuring robust security for the network. These validators, which include key industry names such as Matrixport, Spiderpool, and Antpool, are critical in validating transactions and maintaining network integrity. Synchronizers, including some of the largest Bitcoin mining pools, contribute to securing over 60%…

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Filed under: News - @ October 24, 2024 10:21 am