October 24, 2024 — ChainUp, a global leader in digital asset custody services, is proud to announce its role as a validator node on the newly launched exSat Network mainnet. This partnership marks a significant step forward in the quest for a more scalable, secure, and interconnected Bitcoin ecosystem.

exSat Network addresses Bitcoin’s inherent limitations in scalability and interoperability by serving as a docking layer that bridges Bitcoin with various Layer 2 solutions. The network’s innovative Data Consensus Extension Protocol combines Proof of Work (PoW) with Proof of Stake (PoS), boosting Bitcoin’s consensus mechanism, expanding its scalability, and enhancing security. 

As a key partner, ChainUp will provide custody services for exSat Network, ensuring the secure storage and management of the network’s native token, XSAT. Leveraging its advanced security infrastructure, which includes multi-party computation (MPC) and multi-signature mechanisms, ChainUp Custody guarantees the highest level of protection for exSat’s digital assets. As a key partner, ChainUp Custody is not only safeguarding exSat Network’s assets but also playing a critical role in supporting the network’s secure and compliant operations as it scales within the broader blockchain ecosystem.

The collaboration with exSat Network reinforces ChainUp’s commitment to delivering top-tier infrastructure and secure asset management to the blockchain industry. By providing tailored solutions that meet exSat’s unique needs, ChainUp plays an essential role in ensuring the security and compliance of the exSat Network while driving Bitcoin’s long-term scalability. This marks a significant milestone for Bitcoin and the broader blockchain ecosystem. Together with exSat, we are committed to driving innovation and unlocking the full potential of digital assets, paving the way for a more scalable, secure, and interconnected future in the blockchain space.

About ChainUp

ChainUp Custody is a leading provider of digital asset custody solutions, offering a secure and scalable platform for institutions to manage their digital assets. Recently awarded the Best Institutional Custody & Asset-Servicing Solution for Digital Assets at the Regulation Asia Awards for Excellence 2023, ChainUp Custody is recognized for its institutional-grade security architecture, advanced legal and compliance controls with SOC 2 Type 1 and 2 certifications, meeting the needs of regulated entities while facilitating self-management of digital asset investments.