EOS has announced a new solution that aims to improve Bitcoin’s scalability and compatibility with layer 2 networks.
EOS Network, a blockchain platform powered by the EOS Virtual Machine, announced the development of exSat, a docking layer that aims to bridge the gap between the Bitcoin mainnet and various layer 2 scaling solutions in the Bitcoin ecosystem.
In an April 10 blog announcement, the exSat Network team said their solution could potentially expand Bitcoin’s data consensus to enhance “interoperability, scalability, and security within the Bitcoin ecosystem.”
“By facilitating direct queries of BTC and ecosystem token balances, exSat enables the seamless flow of assets and information between different networks and Bitcoin layer 2 scaling solutions.”
Powered by a hybrid consensus mechanism, exSat merges proof-of-work, proof-of-stake, and delegated proof-of-stake, hoping to expand Bitcoin’s functionality by synchronizing block data between Bitcoin miners and the exSat network.
In addition, exSat has also implemented a decentralized state data index for native assets, which not only simplifies queries and improves interoperability between native BTC, but also enables extensions such as Runes, BRC-20, and BRC-721. The team also highlighted the opportunities for Solidity developers to build a variety of applications on the new network, and support universal gas fees for BTC, Ordinals, Ethereum (ETH), and stablecoins.
To participate in the network as a validator, users need to stake more than 100 BTC (equivalent to about $7 million) to qualify as a validator node. In addition, nodes must stake XSAT tokens to earn income rights.