EOS-incubated Bitcoin docking layer exSat gains support from OKX

OKX has joined the exSat network as a key validator node to help increase Bitcoin’s scalability and interoperability.

Cryptocurrency exchange OKX announced that it has joined the exSat Network as a validator node in a press release dated September 16. The partnership is expected to improve Bitcoin’s scalability and interoperability by leveraging exSat’s data consensus extension protocol, a hybrid mechanism that combines proof of work and proof of stake.

Launched by EOS Network in April, the exSat Network is designed to bridge Bitcoin’s mainnet with various layer-2 scaling solutions and address challenges related to transaction speed and data consensus. According to the press release, OKX will help secure and maintain the integrity of the network by participating as a validator.

With this latest move, the cryptocurrency exchange joins several other blockchain firms, such as Bitget and HashKey Cloud, that are participating in efforts to scale and improve Bitcoin’s network efficiency.

OKX to Increase Bitcoin’s Scalability with exSat

OKX stated that the collaboration is “an important step to advance Bitcoin’s scalability and expand the functionality of the Bitcoin ecosystem.” The collaboration is expected to take Bitcoin “beyond traditional transactions.”

ExSat’s solution aims to make it easier to query Bitcoin and other ecosystem tokens, facilitating smoother asset and data flows between networks. The network also enables blockchain developers to build decentralized applications using Solidity, the programming language used to write smart contracts on Ethereum.

As crypto.news previously reported, validators on the exSat Network must stake more than 100 Bitcoin (approximately $5.49 million at current market prices) and exSat’s native token, XSAT, to qualify for revenue rights. However, it remains unclear how much OKX staked to secure its position as a key validator.