Singapore, Singapore, July 18th, 2024, Chainwire
exSat is pleased to announce that BitTrade will be joining forces with exSat as one of the esteemed Data Validator nodes in our network. This partnership marks our first cooperation with a licensed institution, significantly strengthening scaling solutions through the exSat Docking Layer and enhancing the Bitcoin ecosystem.
exSat: The Docking Layer for Bitcoin
exSat is a groundbreaking Docking Layer designed to address the inherent scalability and interoperability challenges of Bitcoin. By providing a Data Availability Layer and a Decentralized Indexer, exSat extends BTC’s data capabilities, allowing for improved scalability, security, and interoperability within the ecosystem. This approach enables the seamless integration of Bitcoin with various Layer 2 solutions, offering a robust platform for smart contracts and complex business logic applications.
Hybrid Consensus Mechanism
exSat employs a unique Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS). This hybrid consensus mechanism ensures that exSat can leverage the strengths of both PoW and PoS, enhancing BTC’s data consensus and providing a secure and scalable infrastructure for the Bitcoin ecosystem.
exSat Validator Nodes
Entities interested in serving as Validator Nodes are integral to strengthening the security and decentralization of Bitcoin’s functionalities through exSat. These nodes play a pivotal role in maintaining the network’s integrity and scalability, ensuring that engaged and capable partners contribute to our robust ecosystem. Validators are selected based on their demonstrated commitment and technical capabilities, solidifying the network’s standards of security and operational efficiency.
“Bringing BitTrade on board as a validator marks a significant milestone for exSat as we strive to secure more than 51% of the BTC hashrate and accumulate over 10,000 staked BTC to ensure the network’s security and efficiency. BitTrade’s established BTC staking program aligns perfectly with our goals, positioning them to immediately contribute to and benefit from this synergy,” said Huaqiang Wen, Founder of exSat.
Expanding Bitcoin’s Ecosystem
Through this partnership with BitTrade, exSat is set to enhance the functional scope of Bitcoin by enabling more efficient and secure transactions, along with the deployment of complex smart contracts. BitTrade’s role as a Data Validator will be crucial in maintaining the integrity and efficiency of the exSat network, marking a significant step forward in our shared vision for a scalable, interoperable Bitcoin ecosystem.
This announcement follows the recent inclusion of SpiderPool, the #7 mining pool in the world by hashpower, as a validator and synchronizer node. The addition of BitTrade as the second validator further solidifies exSat’s commitment to building a robust network ahead of its official launch.
Stay tuned for more announcements as we continue to reveal additional validators joining exSat, reinforcing our dedication to creating a scalable and interoperable Bitcoin ecosystem.
About exSat
exSat is dedicated to addressing the scalability and interoperability challenges of Bitcoin. By implementing a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat aims to enhance BTC’s data consensus, scalability, security, and interoperability within the ecosystem. For more information, visit exsat.network and follow exSat twitter.
About BitTrade
Founded in 2016, BitTrade is one of Japan’s first licensed cryptocurrency exchanges. Renowned for its secure and user-friendly platform, BitTrade has been at the forefront of Japan’s cryptocurrency market. Notably, BitTrade was the first exchange in Japan to list EOS, demonstrating its commitment to supporting innovative blockchain projects. With a robust portfolio of financial products, including interest-earning deposits on BTC, BitTrade has established itself as a trusted and influential player in the cryptocurrency industry.
Contact
CMO of exSat
Tristan Dickinson
exSat
tristan.dickinson@exsat.org
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