EOS Network unveils exSat to solve Bitcoin scalability issues

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EOS unveils a fresh approach to enhance Bitcoin‘s ability to work with layer-2 networks and increase its scalability.

The EOS Network, which operates on the EOS virtual machine as its power source, has unveiled plans for exSat, a connecting layer. This innovation is designed to facilitate communication between Bitcoin‘s primary network and various layer-2 scalability options present in the Bitcoin community.

On April 10th, in a blog post, the exSat Network team shared that their proposed solution may improve Bitcoin’s data agreement, leading to better “compatibility, flexibility, and safety within the Bitcoin network.”

“ExSat simplifies the process of checking Bitcoin (BTC) and related ecosystem token balances directly, allowing for smooth transfer of assets and instant access to information between various networks and Bitcoin scalability systems.”
The exSat Network team

Using a combined consensus method of proof-of-work, proof-of-stake, and delegated proof-of-stake, exSat aims to broaden Bitcoin’s capabilities by coordinating block information between Bitcoin miners and the exSat Network.

ExSat introduces decentralized indexing of state data for native assets, allowing for efficient querying and enhanced compatibility between not only Bitcoin (BTC) but also extensions such as Runes, BRC-20, and BRC-721. Furthermore, the team highlights the potential for Solidity developers to create a variety of applications on this new platform, with the added benefit of unified gas fees for Bitcoin, Ordinals, Ethereum (ETH), stablecoins, and more.

In order to become validators in the network and help verify transactions, users must pledge more than 100 BTC, which is roughly equivalent to $7 million. Furthermore, nodes are required to hold XSAT tokens to secure the right to generate income.

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2024-04-10 12:49