A recent project that has attracted a lot of attention is exSat.
We know that the Bitcoin ecosystem has experienced unprecedented explosive growth in the past year: from the inscriptions of all people to the continued popularity of Bitcoin NFT, Bitcoin, which was originally only used as a value storage and exchange, can also be used as a place for asset issuance, which greatly broadens the use scenarios of Bitcoin and makes more people have higher expectations for the Bitcoin ecosystem.
Because as one of the earliest blockchain projects, Bitcoin has unique advantages in ecological development:
Leading decentralization and security advantages: Bitcoin is driven by the community and has been tested for more than ten years of stable operation.
Unique market consensus: Bitcoin has the highest popularity and recognition in the hearts of the global public and investors.
Large amount of funds: The current market value of Bitcoin has reached 1.2 trillion US dollars, accounting for about 50% of the market value of the crypto market.
High community enthusiasm: The popularity of inscriptions and runes shows the great enthusiasm of users and communities to participate in the Bitcoin ecosystem.
Good market expectations: Bitcoin halving, Bitcoin spot ETF approved, Bitcoin price hits a new record high.
The high participation under high expectations soon overwhelmed the Bitcoin ecosystem. In short, the performance of the Bitcoin network severely restricted the development of the Bitcoin ecosystem.
Slow transaction speed: only about 3-7 transactions can be processed per second.
High transaction fees: users need to pay higher fees during peak transaction periods.
Long transaction confirmation time: In order to ensure that the transaction is confirmed by the network, users usually need an hour or more.
Scalability limitations: only supports 4MB of content space.
To support a richer ecosystem, Bitcoin's current performance is obviously not enough. Ethereum founder Vitalik once publicly stated that Bitcoin has the potential to surpass its current role as a payment system, and to achieve this goal, more expansion solutions need to be implemented. Bitcoin Layer2 is widely regarded as the only way to build a prosperous Bitcoin ecosystem.
exSat is a docking layer designed to bridge the gap between the Bitcoin native layer and the many Layer 2 expansion solutions of the Bitcoin ecosystem. exSat brings together multiple blockchain technologies to create a powerful solution that overcomes many of the current challenges in improving Bitcoin’s scalability, and EOS will play a key role in this vision.
