exSat’s technology stack combines multiple consensus mechanisms, including PoW for BTC miners, PoS for BTC staking validators, and the DPoS data consensus extension protocol powered by EOS. The platform takes advantage of EOS block space to enable on-chain storage of block data.
EOS RAM also plays an important role in the parsing and storage of relevant data. All of this is happening at a time when RAM is becoming increasingly popular as an important utility for Web3 developers. Because RAM is actual physical RAM, deeply embedded in the computer, it can achieve multi-layer indexing.
exSat’s system has validators or synchronizers who work together to create the trust and robustness of POW, and we use real Bitcoin miners to achieve this. If a miner has produced a block in the past 72 hours, they can push that information to our validators. The validators run the POS mechanism, verify that the information they receive from the actual miners is correct, and then write the data to RAM on EOS. The result of this is that we have access to the full UTXO data, which is about 60 GB of data, which is very expensive to write and access on other chains, but because exSat is backed by EOS, this can be extremely cost-effective and scalable.
exSat has synchronizers pushing data, validators have an incentive to read the data and ensure the data is correct, they need to wait for six confirmations or about an hour, and validators also need to stake Bitcoin and store it in an insured custodian. Then exSat mints wrapped Bitcoin for governance, users can deposit Bitcoin, and validators can choose to grant credit immediately and charge a small fee, or wait an hour and then wait for six Bitcoin confirmations. This way users can use their Bitcoin on a scalable solution and start interacting with applications, DeFi, etc.
In the future, exSat's solution will be open to other second-layer networks. Most second-layer networks are very expensive to generate their own index data, and exSat makes this data open to everyone. Anyone can use exSat's EVM smart contract to access UTXO data.
exSat is another example of EOS performance and scalability following platforms such as EOS EVM and EOS Stablecoin Chain (ESCC). This demonstrates the tremendous flexibility and performance provided by EOS, and introduces unlimited imagination for the subsequent development of the EOS ecosystem.
EOS Network Foundation leads the way, and more initiatives empower ecological development
