Value

Bitcoin

exSat Network, a cutting-edge scaling solution that was developed to broaden and improve the Bitcoin ecosystem, is thrilled to announce the introduction of the exSat bridge, which will provide Bitcoin staking. As a result of this development, which comes just under two weeks following the introduction of the mainnet, Bitcoin holders now have access to additional prospects for income.
exSat is committed to tackling the issues of Bitcoin’s scalability and interoperability in order to realize the goal of Bitcoin’s widespread adoption. Through the implementation of a Data Consensus Extension Protocol that combines Proof of Work (PoW) and Proof of Stake (PoS), exSat intends to improve the data consensus, scalability, security, and interoperability of Bitcoin within the ecosystem.
In order to realize Satoshi’s vision, it is necessary to provide new financial possibilities, and Bitcoin staking represents a significant step forward in this regard. In addition to being the most valued digital asset and having the most trading activity, Bitcoin now provides the opportunity to earn&nbsp;via staking. Staking Bitcoin results in the customer receiving a wrapped token known as XBTC, which is bonded 1:1 with native Bitcoin. This enables the user to keep possession of their original Bitcoin while also earning yield.
In addition, staking on the exSat Network helps to ensure the safety of the network. Stakeholders get XSAT, the native token that drives the exSat ecosystem, in exchange for their participation. In the future, XSAT will be traded on a variety of exchanges across the world.
The exSat bridge has been subjected to a comprehensive audit by Blocksec, and it was developed in collaboration with prominent custodians such as Ceffu, ChainUp, Cobo, and Cactus. The reliability, security, and transparency of the exSat bridge are all ensured by the combination of stringent audits and trustworthy custodial cooperation.
To this day, the exSat Network has been able to secure more than <a href="https://defillama.com/protocol/exsat-credit-staking#information" target="_blank" rel="noopener noreferrer nofollow">$488 million in Total Value Locked (TVL)</a>, which is backed by more than 41 validators. Additionally, more than fifty percent of Bitcoin’s hash rate is syncing data on the network. Matrixport, Spiderpool, Antpool, viaBTC, Everstake, HashKey Cloud, Blocksec, OKX, BitTrade, Bitget, ChainUp Cloud, and Cactus Custody are some of the key industry partners that are collaborating in the exSat Network.
To stake Bitcoin on the exSat Network, you must first link your wallet, then bridge BTC to acquire XBTC, then stake XBTC with a validator, and finally receive XSAT. This process is straightforward. As a result of this simplified approach, Bitcoin stakers are able to receive XSAT tokens instantly, rather than having to wait for future airdrops or accumulate points.
To get further details on the launch of the exSat Network and to remain up-to-date on forthcoming developments, please visit both our <a href="https://exsat.network/" target="_blank" rel="noopener noreferrer nofollow">website</a> and the exSat on <a href="https://x.com/exSatNetwork" target="_blank" rel="noopener noreferrer nofollow">X</a>.

exSat Network Broadens Earning Opportunities via Launch of Bitcoin Staking

TheNewsCrypto

Other articles published on Nov 5, 2024

PEPE whales accumulate this sub-$0.10 token set to overtake PEPE by 2025

Bitcoin Blasts Through $65k, Crypto Bulls Taking Over? + Gary Gensler Fired Countdown

Bitcoin as a Treasury Asset: A Growing Trend Among Corporations

Weekly Article Recap: 10/28-11/01

BRICS Unit Token Reveal, BRICS vs Gold, + Crypto Election Race️‍🔥

Bitcoin Analysts Double Down on $200K Target Amid 2024 Election Uncertainty

Join our free newsletter for daily crypto updates!