EOS Network reveals exSat, a solution to address scalability problems in Bitcoin
EOS Network, a blockchain platform that runs on the EOS virtual machine, has unveiled a new solution called exSat. This solution aims to enhance Bitcoin’s scalability and compatibility with layer-2 networks within the Bitcoin ecosystem.
In a blog post on April 10, the exSat Network team explained that their solution has the potential to improve “interoperability, scalability, and security” within the Bitcoin ecosystem by expanding Bitcoin’s data consensus.
exSat achieves this by utilizing a hybrid consensus mechanism that combines proof-of-work, proof-of-stake, and delegated proof-of-stake. By synchronizing block data between Bitcoin miners and the exSat Network, they aim to enhance Bitcoin’s functionalities.
Furthermore, exSat implements decentralized state data indexing for native assets, which allows for streamlined querying and improved interoperability across various extensions like Runes, BRC-20, and BRC-721. The team also emphasizes the possibilities for Solidity developers to create diverse applications on the network, with support for universal gas fees for BTC, Ordinals, Ethereum (ETH), and stablecoins.
To become validators on the network, users must stake over 100 BTC (equivalent to approximately $7 million) and hold XSAT tokens to earn revenue rights.
EOS Network’s exSat solution presents an exciting development for Bitcoin, offering improved scalability and compatibility with layer-2 networks. This innovation has the potential to enhance the overall efficiency and functionality of the Bitcoin ecosystem.
