- Bitcoin scalability solution exSat adds BitTrade as a data validator node.
- BitTrade becomes the second validator after Spiderpool.
- This aims to strengthen the efficiency and security of Bitcoin transactions.
exSat Network, a platform aiming to address the scalability and interoperability challenges of Bitcoin, announced a partnership with BitTrade, a Japan-licensed cryptocurrency exchange. The partnership will see BitTrade join exSat as its data validator node aiming to strengthen scaling solutions for Bitcoin via the latter’s Docking Layer. This is expected to enhance the efficiency and security of scaling solutions, enhancing Bitcoin’s ecosystem.
exSat is an EOS blockchain-based platform that implements a Data Consensus Extension Protocol – combining the proof of work (PoW) and proof of stake (PoS) consensus mechanisms – to enhance Bitcoin’s scalability and interoperability. This hybrid consensus mechanism ensures that exSat can leverage the strengths of both PoW and PoS, enhancing BTC’s data consensus and providing a secure and scalable infrastructure for the Bitcoin ecosystem.
Additionally, exSat enhances Bitcoin’s data consensus, scalability, security, and interoperability, supporting the seamless flow of assets between Bitcoin’s ecosystem and various layer 2 solutions.
Its Docking Layer is designed to address the scalability and interoperability challenges on BTC’s native chain. It comprises a data availability layer and a decentralized indexer that extends BTC’s data capabilities, allowing for improved scalability, security, and interoperability within the ecosystem.
The partnership with BitTrade aims to enhance the functional scope of Bitcoin, ensuring security and decentralization are maintained on the platform. By becoming a validator node, BitTrade will strengthen the security and decentralization of Bitcoin’s functionalities, leveraging exSat’s Docking Layer. Moreover, BitTrade will enable more secure, efficient and fast transactions, as well as aid the deployment of complex smart contracts.
BitTrade’s role as a data validator will be crucial in maintaining the integrity and efficiency of the exSat network.
“Bringing BitTrade on board as a validator marks a significant milestone for exSat as we strive to secure more than 51% of the BTC hashrate and accumulate over 10,000 staked BTC to ensure the network’s security and efficiency. BitTrade’s established BTC staking program aligns perfectly with our goals, positioning them to immediately contribute to and benefit from this synergy,” said Huaqiang Wen, Founder of exSat.
BitTrade Joins Spiderpool as second data validator node
BitTrade becomes the second data validator to join exSat’s ecosystem following the recent inclusion of Spiderpool, one of the largest mining pools across Bitcoin by hash power. BitTrade will join exSat’s ecosystem as both a validator node and a synchronizer node.
The addition of BitTrade as the second validator further solidifies exSat’s commitment to building a robust network ahead of its official launch. Spiderpool currently contributes to 4% of the total mining hashrate on the Bitcoin blockchain, making it one of the biggest mining pools in the world.
For an entity interested in running an exSat’s validator node, the company requires a minimum of 100 BTC staked (~$6.2 million). This aims to ensure that only committed and capable partners contribute to and benefit from the secure and decentralized enhancement of Bitcoin’s functionalities. As of writing, only 20 top nodes are eligible to join exSat as validator nodes.
Image: exSat x BitTrade
