EXSAT enhances the Bitcoin ecosystem with smart contract capabilities

Supports EVM compatibility

By integrating full compatibility with the EVM, exSat opens the platform to a wider developer community. This compatibility allows the development of a wide range of smart contracts, greatly expanding the utility and functionality of the exSat platform.

Support for universal gas fees through account abstraction

With EVM compatibility and account abstraction, universal gas fees can be supported across a variety of assets, such as BTC, Ordinals, and other Bitcoin ecosystem assets. It is also possible to pay gas fees for others, bringing convenience to developers and users.

Deposits and withdrawals

The validator manages a multi-signature (MSIG) escrow account with a threshold signature scheme (TSS) on the Bitcoin network. This account is responsible for processing deposit/withdrawal operations.

Deposits are completed by transferring funds to the escrow account. When exSat imports raw Bitcoin blocks into the system, deposit transactions can be detected and processed accordingly.

Withdrawal requests should be sent to the exSat smart contract. The smart contract will verify the request in the exSat smart contract and generate a Bitcoin transaction accordingly. The validator operating the MSIG escrow account will sign the transaction and forward it to the Bitcoin network.