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You no longer need the internet to access the bitcoin blockchain.
Blockstream has just finished inserting its fifth blockchain broadcaster into space. This means that the whole world can now receive bitcoin blockcoin through a satellite dish, rather than on the Internet, as is more typical.
What can bitcoin space do for me?
The main immediate benefit could be for people in areas with poor internet infrastructure who want a better way to access the blockchain. This was the initial application, Blockstream CEO Adam Back said at the time of the launch of the first satellite.
The idea is that you no longer need an Internet connection to use bitcoins, which adds redundancy and an alternative option to ensure that it is not entirely prohibitive to participate in bitcoin blockchain even if your access to The Internet is expensive or tightly choked.
source
With five satellites now broadcasting, the world now has blockchain coverage – except those in Russia and Greenland.
In the long run, however, this alternative method of access could be an interesting part of the bitcoin backbone as a censorship tool for financial freedom. Although it is possible to completely block access to the Internet in certain ways, it may be more difficult to censor satellite coverage.
It is also a potential proofing level of the apocalypse for bitcoins, in line with some visions of the cryptocurrency as a currency that can still function in the event of a total collapse. But one can not say how the internet infrastructure could hold up if the world was burned by nuclear fire, while the satellites could be a bit more resilient.
But there are still some places on the ground that need to work with satellites. It works through Blockstream ground stations that transmit blocks to satellites, which then relay them to earth.
The launch was also accompanied by an update that brings additional Lightning Network support to the system.
Disclaimer:
This information should not be interpreted as an approval of a cryptocurrency or a specific supplier,
service or offer. It is not a recommendation for trade. Cryptocurrencies are speculative, complex and
involve significant risks: they are highly volatile and sensitive to secondary activities. Performance
it is unpredictable and past performance is no guarantee of future performance. Consider yours
circumstances, and get their advice, before relying on this information. You should also check
the nature of any product or service (including legal status and relevant regulatory requirements)
and consult the relevant regulators' websites before making any decision. Finder, or the author, can
have participations in the cryptocurrencies discussed.
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