The exSat testnet is live with seven web3 infra providers onboarded and providing validator duties. The launch, which was announced at Bitcoin 2024 in Nashville, will mark a new era for scaling Bitcoin architecture to support dapps designed for enterprise and consumer use.
Singapore company ChainUp is one of the first validators confirmed to have joined the exSat testnet along with Bitget. It’s accompanied by experienced node operator Everstake, HashKey Cloud, InfinityStones, SpiderPool, and Treis Blockchain. Together, they’ll be providing network validation for data on the exSat testnet and forthcoming mainnet.
“These validators bring a combination of deep expertise and a unified commitment to building a scalable, secure Bitcoin ecosystem,” said exSat Founder Yves La Rose. “Their diverse technological skills and visionary approaches are vital as we work together to expand Bitcoin's capabilities and improve its overall framework, ensuring a robust and efficient future for blockchain technology.”
exSat Prepares to Scale Bitcoin
There have been many different approaches tried to scale Bitcoin, allowing smart contracts and apps to be deployed that draw upon its security model and network effects. While some, such as Lightning Network, are focused on a specific use case – payments – others, such as exSat, are generalized. exSat is developing a docking layer that will build upon Bitcoin’s consensus and allow it to support features normally the preserve of next-generation chains like Ethereum.
exSat essentially wants to make Bitcoin capable of serving the needs of web3. Given that its base layer is unsuited to these sorts of activities, the solution is to create a custom L2 that’s anchored to the main chain. exSat has developed a Data Consensus Extension Protocol and a Decentralized Indexer which will support smart contract logic and business applications.
There are also consumer use cases envisaged for exSat including the trading of Ordinals and Runes. To facilitate all this, exSat needs a diverse and distributed validator set that will sufficiently decentralize its network while maintaining optimal performance to ensure data is delivered on demand. The validators exSat has partnered will run a hybrid consensus mechanism that combines PoW and PoS to capitalize on the inherent strengths of each model.
Strengthening the exSat Testnet
The testnet is a critical phase in the development of any blockchain network and exSat is eager to ensure that its chain is running smoothly, fully stress-tested and checked for edge cases that might affect operations. The validators it’s onboarded will be instrumental in providing testnet feedback and will be joined by others who are set to be added to the growing exSat ecosystem.
In the months ahead, exSat is also expected to onboard third-party developers interested in building on its network as well as public users who will be able to interact with testnet dapps. exSat has extended an invitation to other infrastructure providers that meet its technical criteria to consider joining its testnet and help support its goal of scaling Bitcoin so that open finance can flourish.
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
