The exSat team took a giant leap toward making Bitcoin more scalable and interoperable when they announced the formal launch of their testnet at the recent Bitcoin 2024 conference in Nashville.
As part of their groundbreaking exSat Docking Layer, the exSat team detailed their powerful scaling solution and increased interoperability capabilities. The announcement drew the interest of key industry players, including mining pools, highlighting the announcement’s importance and potential of exSat.
Introducing the exSat Testnet
The exSat testnet improves Bitcoin’s interoperability, security, and scalability by adding a Decentralized Indexer and a Data Consensus Extension Protocol.
With this configuration, a wide range of Layer 2 solutions can run complex smart contracts and business logic applications. It makes it easier to issue and trade assets like Runes and Ordinals by creating a UTXO Index for fast navigation. The platform also adds support for renting and lending UTXOs, which increases its versatility and usefulness in the Bitcoin ecosystem.
Hybrid Consensus Mechanism
When it comes to consensus, exSat uses a one-of-a-kind Data Consensus Extension Protocol that blends Proof of Work (PoW) with Proof of Stake (PoS). Incorporating stake-based governance into the mix improves network security and scalability while staying true to Bitcoin’s decentralized spirit.
Celebrating Our Initial Validators
An enthusiastic team of initial validators has been crucial in helping us fine-tune our platform, and their efforts have ensured the smooth launch of the exSat testnet. More and more validators are joining them; they were all hand-picked for their strong technical foundations and unwavering dedication to the blockchain industry’s growth.
Bitget is a pioneer in the cryptocurrency exchange and wallet space, with over 20 million users worldwide since its launch in May 2018. Bitget functions as a validator in over 168 countries, providing a wide range of services such as asset storage, quick trading, and DeFi investments. Bitget is an essential part of the blockchain ecosystem for safe and effective administration of digital assets since its extensive platform includes features like Swap, NFT Market, and DApp Browser and supports more than one hundred public chains.
When it came to licensed cryptocurrency exchanges in Japan, BitTrade was among the first to launch in 2016. As a pioneer in Japan’s crypto market, BitTrade is well-known for its safe and intuitive platform. Notably, BitTrade shown its dedication to backing emerging blockchain projects by becoming the first exchange in Japan to offer EOS. With a wide variety of financial products, including interest-earning deposits on BTC, BitTrade has established itself as a trusted and prominent participant in the cryptocurrency market.
The Singapore-based ChainUp was set out in 2017 to make blockchain technology accessible to everyone. With an emphasis on safety and scalability, it provides a full suite of services, such as custody services and digital asset exchanges.
Supporting around 900,000 delegators across 80 networks, Everstake is a blockchain industry giant. Everstake guarantees unrivaled performance and dependability with its regionally spread infrastructure and professional workforce. They are a lynchpin of the blockchain ecosystem, spearheading groundbreaking initiatives with forward-thinking management and state-of-the-art innovation to revolutionize the sector.
Genpool is at the forefront of the blockchain industry as Australia’s preeminent agency for developing decentralized applications and blockchain infrastructure. Their mission is to empower ecosystems via creative initiatives and vigorous community interaction while building scalable solutions for distributed ledger technology.
With 80+ popular public chains supported since its 2018 launch, HashKey Cloud has quickly become the world’s leading provider of Web3 infrastructure services. Assuring the network’s operation and preparedness, it is crucial for the exSat initiative’s initial Bitcoin block synchronization.
Quickly rising to the position of trusted Platform as a Service (PaaS) for blockchain infrastructure, InfinityStones has been serving large multinational corporations since 2018. Its AI-driven infrastructure supports decentralized apps and DeFi initiatives, runs over 20,000 nodes across 80+ blockchains, and improves the efficiency and accessibility of blockchain technology.
Since its launch in 2018, SpiderPool has grown into a major participant in the crypto mining industry. This mining pool is well-known for its strong Proof-Of-Work operations and is considered one of the best in the world. Its collaboration with exSat improves Layer 2 solutions, which in turn helps the Bitcoin ecosystem by providing cutting-edge mining technology.
Treis Blockchain
With an emphasis on high-performance computing and environmental sustainability, Treis Blockchain aims to provide cutting-edge, long-term blockchain solutions. Their mission is to improve blockchain’s infrastructure for widespread use while simultaneously decreasing blockchain’s ecological footprint.
Yves La Rose, Founder of exSat stated:
“These validators bring a combination of deep expertise and a unified commitment to building a scalable, secure Bitcoin ecosystem. Their diverse technological skills and visionary approaches are vital as we work together to expand Bitcoin’s capabilities and improve its overall framework, ensuring a robust and efficient future for blockchain technology.”
Advanced Security with BlockSec: Protecting the exSat Ecosystem
In order to fortify the blockchain ecosystem against any security risks, BlockSec has teamed up with exSat to act as its devoted security partner. By using their extensive knowledge of blockchain security, BlockSec uses the Phalcon platform to keep an eye out for any attacks and prevent them before they happen, making the exSat network far more secure.
Critical to preserving the dependability and integrity of the network’s operations, their proactive strategy include automated response mechanisms and real-time threat detection. Through this partnership, exSat is able to further its goal of building a Bitcoin ecosystem that is both safe and scalable by incorporating top-tier security features into our infrastructure.
Expanding the Ecosystem
Continuous platform optimization and onboarding of more validators will be undertaken by exSat as the testnet advances. Participation is invited from entities who fulfill the staking criteria and show technological competence.
We delved deeply into the exSat technology and explored possibilities for cooperation during our recent conference sessions. Visit exSat.network and follow us on social media for current updates. Now that the testnet is live, you may monitor the addition of new validators by using the exSat explorer.
