exSat Prepares to Scale Bitcoin

The exSat testnet is live with seven web3 infra providers onboarded and providing validator duties.

Bitcoin scaling project exSat has announced the launch of its testnet with seven web3 infrastructure providers joining the network to perform validator duties. The launch, which was announced at Bitcoin 2024 in Nashville, marks a new phase in the project's goal to scale Bitcoin's architecture and enable the deployment of dapps designed for both enterprise and consumer use.

Among the first validators to join the exSat testnet are Singapore company ChainUp and Bitget. They will be accompanied by experienced node operators Everstake, HashKey Cloud, InfinityStones, SpiderPool, and Treis Blockchain. These validators will provide network validation for data on the exSat testnet and the upcoming mainnet.

“These validators bring a combination of deep expertise and a unified commitment to building a scalable, secure Bitcoin ecosystem,” said exSat Founder Yves La Rose. “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.”

exSat Prepares to Scale Bitcoin

There have been numerous attempts to scale Bitcoin, enabling the deployment of smart contracts and applications that leverage its security model and network effects. While some, like Lightning Network, are focused on a specific use case – payments – others, like exSat, are more generalized. exSat is developing a docking layer that will build upon Bitcoin’s consensus and allow it to support features normally reserved for next-generation chains like Ethereum.

Essentially, exSat wants to make Bitcoin capable of serving the needs of web3. Since its base layer is not suited for these kinds of activities, the solution is to create a custom L2 that's anchored to the main chain. exSat has developed a Data Consensus Extension Protocol and a Decentralized Indexer which will support smart contract logic and business applications.

There are also consumer use cases planned for exSat including the trading of Ordinals and Runes. To facilitate all this, exSat needs a diverse and distributed validator set that will sufficiently decentralize its network while maintaining optimal performance to ensure data is delivered on demand. The validators exSat has partnered will run a hybrid consensus mechanism that combines PoW and PoS to capitalize on the inherent strengths of each model.

Bolstering the exSat Testnet

The testnet is a crucial stage in the development of any blockchain network and exSat is keen to ensure that its chain is running smoothly, fully stress-tested and checked for edge cases that might affect operations. The validators it’s onboarded will be instrumental in providing testnet feedback and will be joined by others who are set to be added to the growing exSat ecosystem.

In the coming months, exSat also plans to onboard third-party developers who are interested in building on its network as well as public users who will be able to interact with testnet dapps. exSat also invites other infrastructure providers who meet its technical criteria to consider joining its testnet and help support its goal of scaling Bitcoin so that open finance can flourish.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

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