exSat Introduces Bitcoin Staking, Unlocking Fresh Financial Avenues for Users
In Brief
exSat has unveiled its exSat bridge, which not only features Bitcoin staking but also offers exciting new earning potential for Bitcoin holders.
The Bitcoin scaling solution exSat Network The exSat bridge has been launched, which facilitates Bitcoin staking. This exciting advancement arrives shortly after the mainnet was rolled out, paving the way for new income opportunities for those who hold Bitcoin.
By building upon Satoshi Nakamoto’s original vision, the platform is set to unveil fresh financial prospects, with Bitcoin staking marking a significant leap forward. As the top digital currency characterized by unmatched trading volume, Bitcoin can now earn yields through staking activities. Users who stake their BTC are awarded a wrapped token called XBTC, which mirrors the value of native BTC, thus allowing them to maintain ownership of their original Bitcoin while still benefiting from yield earnings.
Staking within the exSat Network also fortifies the security of the network. For their contributions, participants are rewarded with XSAT, the native currency that drives the exSat ecosystem, which will eventually be made available for trading across different platforms.
The development of the exSat bridge involved collaboration with notable custodians such as Ceffu, ChainUp, Cobo, and Cactus, and has passed rigorous auditing by Blocksec. This thorough examination alongside reputable custodianship ensures that the exSat bridge remains secure, transparent, and dependable.
To date, the exSat Network The network has successfully amassed over $488 million in Total Value Locked (TVL), with support from more than 41 validators and over half of Bitcoin's hash rate actively participating in data synchronization. Among the esteemed industry partners collaborating with the exSat Network are Matrixport, Spiderpool, Antpool, viaBTC, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody, to name a few.
Getting started with Bitcoin staking on the exSat Network is designed to be user-friendly: individuals simply connect their wallets, bridge their BTC to receive XBTC, stake their XBTC with a validator, and begin earning XSAT. This efficient method allows stakers to earn XSAT tokens instantly without needing to gather points or await future airdrops.
exSat: What Is It?
exSat is dedicated to addressing the scalability and interoperability issues that Bitcoin faces in pursuing widespread cryptocurrency adoption. To realize this objective, the platform has launched a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS) models. This strategy aims to refine Bitcoin’s data consensus, enhance scalability, boost security, and elevate interoperability within the ecosystem.
Recently, the project has formed a partnership In collaboration with tech company OKX, which is participating as a validator node, this partnership signifies another progressive step in enhancing Bitcoin's scalability and expanding the overall functionality of the Bitcoin ecosystem.
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