Richard Parks The Bitcoin scaling platform, exSat Network, has launched staking services, marking a new milestone just two weeks after its mainnet went live. The Singapore-based exSat Network aims to create fresh financial opportunities for Bitcoin holders through this staking feature, available via the exSat bridge.
According to a Nov. 5 press release, users who stake BTC on exSat Network will receive XSAT, the network’s native token, as a reward. While XSAT is expected to become tradable on multiple exchanges, the team has yet to announce a specific timeline for listings.
The exSat bridge, developed with support from custodial partners such as Ceffu, ChainUp, Cobo, and Cactus, has undergone a security audit by Blocksec to ensure robustness and reliability. Since launch, the platform has secured over $488 million in total value locked (TVL) and has the backing of more than 41 validators.
As a layer aimed at enhancing Bitcoin’s scalability, exSat Network is addressing Bitcoin’s long-standing scaling challenges. By using a data consensus extension protocol that combines proof-of-work (PoW) with proof-of-stake (PoS), exSat aims to improve both Bitcoin’s consensus mechanism and its network security.
In support of these scalability efforts, the cryptocurrency exchange OKX joined exSat as a validator in September. Validators on the network are required to stake at least 100 BTC, along with XSAT tokens, to qualify for staking rewards and revenue rights.
Through its hybrid consensus model, exSat Network is positioned to drive broader Bitcoin adoption by enhancing its scalability and operational functionality.