The emergence of inscriptions undoubtedly provides a new perspective for the market, showcasing the immense potential of the Bitcoin ecosystem. However, while the craze for inscriptions once ignited the market, the issue of Bitcoin's scalability has resurfaced with the retreat, prompting reflection: for Bitcoin to stand out in the fiercely competitive blockchain ecosystem, it must break through the scalability bottleneck and engage in deep infrastructure development.
Many teams are dedicated to developing L2 solutions based on the Bitcoin network, aiming to attract dormant BTC liquidity. However, numerous BTC L2s also face challenges similar to those encountered by Ethereum L2s, such as liquidity fragmentation and poor user experience.
Addressing these issues is key to creating a user-friendly and developer-friendly unified ecosystem.
exSat Network: A New Opportunity in the Bitcoin Ecosystem
exSat Network is an innovative Bitcoin ecosystem expansion solution designed to address the scalability issues of the Bitcoin network while enhancing its interoperability with the decentralized finance (DeFi) ecosystem, inheriting Bitcoin's security. It does not merely rely on traditional Layer 2 or sidechain solutions but proposes a revolutionary "Docking Layer" concept, enabling more efficient data interaction and communication between Bitcoin and other blockchain protocols. By facilitating direct queries of BTC and ecosystem token balances, exSat achieves seamless flow of assets and information between different networks and Bitcoin's second-layer scaling solutions.
The exSat Network mainnet officially launched on October 23 and introduced a cross-chain bridge on November 5, incorporating Staking features to provide users with new Bitcoin staking yield opportunities. Users can earn XSAT rewards by staking BTC, with current yields reaching up to 150%, making it the lowest-risk and highest-yielding network among all BTC yield products, with real-time Claim Rewards.
The exSat cross-chain bridge was developed in collaboration with leading custodians such as Ceffu, ChainUp, Cobo, and Cactus, and underwent comprehensive auditing by Blocksec. Currently, exSat Network has staked over 7,100 BTC, with a total locked value (TVL) exceeding $687 million.
The mainnet is supported by 41 validators, with over 54% of Bitcoin's hash power synchronizing data on the network. Key industry partners participating in exSat Network include Matrixport, Spiderpool, Antpool, viaBTC, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody.
Founder Yves La Rose is the founder and CEO of the EOS Network Foundation and has secured over $20 million in grant funding from the EOS Foundation to kickstart the project.
exSat Network Technical Architecture
● Consensus Layer: Hybrid Consensus Mechanism
One of exSat's core technologies is its unique hybrid consensus mechanism. This mechanism combines Proof of Work (PoW) and Proof of Stake (PoS), ensuring the security and decentralization of the Bitcoin network while enhancing transaction processing efficiency.
In the exSat network, block data submitted by miners undergoes PoW processing before being verified by validators through PoS. This dual consensus model not only increases the credibility of the data but also enhances the system's throughput, addressing the scalability issues of the Bitcoin network while creating additional revenue for miners!
● Data Layer: Decentralized Storage Indexing Solution
To address the bottlenecks in data storage and management within the Bitcoin network, exSat collaborates with the EOS Foundation, leveraging EOS RAM technology to provide a decentralized storage solution. This storage solution efficiently manages and stores over 108GB of UTXO (unspent transaction output) data within the Bitcoin network, providing robust data support for the entire Bitcoin ecosystem.
With this solution, exSat can offer more efficient data access and processing capabilities while ensuring data security and transparency, further enhancing the scalability of the Bitcoin network.
● EVM Compatibility
To promote interoperability between the Bitcoin ecosystem and the Ethereum ecosystem, exSat also supports EVM (Ethereum Virtual Machine) compatibility. This means developers can more easily migrate DeFi applications and smart contracts from Ethereum to the Bitcoin network, lowering the development threshold and accelerating the construction of the Bitcoin ecosystem.
Through this compatibility, exSat enables cross-chain operations, allowing Bitcoin to secure a place in the competitive DeFi space.
Fair and Transparent Token Economic Model
● Total Supply
The total supply of XSAT is 21,000,000 tokens, with the mining rate predetermined and publicly disclosed, ensuring transparency and predictability in the supply mechanism, similar to Bitcoin's supply dynamics.
● Halving Cycle
XSAT adopts a halving model similar to Bitcoin, with each halving cycle consisting of 210,000 blocks. The halving cycle for XSAT officially begins after the synchronization of the first 840,000 Bitcoin blocks is completed (block height N > 840,000).
● Initial Supply
At the initial launch, the reward for each block is 50 XSAT, which will be halved at the end of each halving cycle to control inflation and ensure the economic sustainability of miner rewards.
● Dual Staking Model
The network launch is divided into three phases: initialization, network launch, and the opening of XSAT staking.
During the initialization phase, the exSat Foundation will synchronize the historical data of the previous 840,000 Bitcoin blocks as a snapshot, but there will be no incentives during this phase.
After completing the initialization, the exSat network will officially start real-time synchronization of Bitcoin block data. This process allows exSat to continuously receive and process the latest data from the Bitcoin blockchain, discovering and verifying UTXO and other types of crypto assets. At the same time, the miner reward mechanism of exSat will officially commence. Since the synchronized and audited block data on the exSat chain consists of historical data from over 840,000 blocks, there will still be a process of catching up based on the current BTC block height.
Once the catch-up is complete, the XSAT staking phase will begin. At that time, nodes will need to stake XSAT to qualify as nodes, and the amount of BTC staked by the nodes will determine future rewards. Valid validators can participate in the multi-signature management of the future decentralized cross-chain bridge and earn gas rewards.
The token economic model of exSat maximally restores the fair and transparent issuance principles of Bitcoin, with XSAT distributed through a fair launch method, ensuring that all participants have equal opportunities in acquiring tokens.
Even though the EOS Foundation provided $20 million in startup funding, there are no pre-mined token shares, including for the exSat team itself. Instead, an innovative node management model has been introduced, accepting token donations from nodes through a donation method, with a reference ratio of 20%, determined by the nodes themselves.
Early Opportunities for Ordinary Users, Staking BTC with Annual Returns Up to 150%
Currently in the early mining phase, institutional nodes have been mining for less than a month, with a total of 21 million tokens, and the off-market price of a single XSAT is around $110.
The minimum staking amount is 0.005 BTC, and users can earn approximately three times the amount of XSAT token rewards daily, which is 0.015 XSAT. Based on the off-market price, the daily earnings are approximately $1.65, with annual returns reaching up to 150.57%.
Depending on price fluctuations, earnings may vary, but for BTC and an emerging infrastructure project, this is a win-win choice, as both BTC and XSAT have strong upward expectations.
Unlike staking for points, where the issuance time is unknown and the waiting period is excessively long, and where token issuance is centralized, exSat rewards are directly included in the blocks and can be claimed promptly, fully implementing Bitcoin's decentralization principles, providing real-time and guaranteed rewards for stakers!
Staking can refer to the official tutorial: medium.com/exsat-net...
Additionally, the official Pioneer event is ongoing, with rewards in BTC. The deadline for the event, upgraded to 2.0, is December 25, and more partners will be joining, enriching the prize pool!
You can participate together: zealy.io/cw/exsat/qu...
Unlocking Trillions in Market Potential, Driving BTCFi
In summary, exSat, through innovative technologies such as hybrid consensus mechanisms, decentralized storage solutions, and EVM compatibility, not only addresses the scalability issues of the Bitcoin ecosystem but also provides users with safer, more efficient, and transparent staking and yield opportunities, propelling the Bitcoin ecosystem towards broader DeFi applications and multidimensional innovations.
Through various innovations in technical architecture and token economics, exSat enables the Bitcoin main chain to better connect with external Layer 2 networks, DeFi ecosystems, and other blockchain platforms. This flexible architectural design enhances Bitcoin's scalability and interoperability, bringing unprecedented development opportunities to the Bitcoin ecosystem and truly unlocking the trillion-dollar market potential of BTCFi!
Learn More:
Official X: x.com/exSatNetwork
Chinese X: x.com/exSat_CN
Official TG: t.me/ExSatNetwork