exSat Network Launches with $270M in Locked Assets
exSat Community formally launched its mainnet in the present day to enhance Bitcoin’s scalability and allow extra real-world makes use of. The launch represents a giant step towards fulfilling Satoshi Nakamoto’s imaginative and prescient of Bitcoin as extra than simply digital cash.
As a part of the launch, the platform has teamed up with main gamers within the blockchain area like Matrixport, Antpool, and Everstake, together with 30 validators who’ve staked not less than 100 BTC every to assist safe the community.
These validators work to verify transactions, whereas main Bitcoin mining swimming pools corresponding to viaBTC and F2Pool synchronize Bitcoin’s UTXO (Unspent Transaction Output) information.
exSat has additionally launched a brand new token known as XSAT throughout the launch. In accordance with the workforce, ‘XSAT serves because the token for the Community, combining the strong safety of Proof of Work (PoW) with the versatile performance of Proof of Stake (PoS).”
XSAT is earned by mining Bitcoin blocks and serving to safe the community via validation. In accordance with the press launch, the launch has attracted greater than $270 million in Complete Worth Locked (TVL), making exSat one of many largest Bitcoin-based tasks at this stage.
Moreover, Matrixport has additionally introduced plans to stake between 5,000 to 10,000 nBTC, and also will help the event of decentralized purposes (dApps) on the community, serving to to kickstart exSat’s ecosystem.
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