Web3 infrastructure provider HashKey Cloud has partnered with exSat to become a Data Validator on the exSat testnet. The arrangement will also see HashKey Cloud maintain this role once the exSat mainnet goes live.
exSat is developing a docking layer for scaling Bitcoin. With institutional adoption of BTC ramping up, exSat is on a mission to create the infrastructure that will allow a scalable Bitcoin ecosystem to flourish. HashKey Cloud will play a role in realizing this goal by providing the infra necessary to launch a robust and decentralized network that will support a host of use cases.
Bringing Ethereum Capabilities to Bitcoin
In the last two years, investment has poured into Bitcoin as developers have discovered new ways in which to leverage its unrivaled security and network effects. This has necessitated creating new protocols for hosting dapps and supporting smart contracts that overcome the limitations to Bitcoin’s base layer architecture. Bitcoin, of course, wasn’t designed to be a smart contract network, but where there’s a will there’s a way as innovative developers such as exSat are now demonstrating.
Most of the innovation now occurring within the Bitcoin ecosystem is taking place on L2s that draw their security from the main chain and allow BTC to be bridged both ways. exSat, with the support of partners such as HashKey Cloud, is at the vanguard of this moment. Its primary goals include extending Bitcoin's data consensus through a hybrid consensus mechanism that combines Proof of Work (PoW) and Proof of Stake (PoS). It’s also creating a decentralized state data indexing solution that will make it easier to operate smart contracts.
Explaining the rationale behind onboarding HashKey Capital, exSat Founder Yves La Rose said: “Their unmatched expertise and dedication to regulatory excellence significantly bolster our mission to enhance Bitcoin's scalability and interoperability. This collaboration not only fortifies our network but also sets a new benchmark for innovation and security in the Bitcoin ecosystem.”
Not only does the partnership provide exSat with the infrastructure its ambitious Bitcoin scaling solution requires, but it’s a statement of intent that is likely to compel other infra providers to follow suit.
HashKey to Provide Data Synchronization
One of the primary services HashKey Capital will provide concerns data synchronization. It’s been tasked with aiding in the synchronization of the first 840,000 Bitcoin blocks that will form the basic consensus for exSat’s protocol. This will lay the groundwork for all subsequent network operations.
exSat has certainly chosen the right partner to assist with bootstrapping its network. HashKey’s reputation as a leader in blockchain node validation services is unrivaled, having supported more than 80 public chains to date. The company forms part of the HashKey Group, an Asian powerhouse that incorporates an OTC desk, venture fund, and exchange. HashKey’s decision to partner with exSat will provide the technical support required to launch the network while helping to raise awareness of its Bitcoin scaling solution.
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
