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Bitcoin is conquering our satellites! And there's absolutely nothing to really worry about; it's not like a hostage situation. In fact it is the hallmark of a new era of Bitcoin, as users from around the world will be freed from the constant need for the Internet in order to spend their cryptocurrency on daily transactions.
The blockchain development company, Blockstream, which managed to raise a ubiquitous $ 101 million from Khosla Ventures and others, has expanded its satellite service network and is now broadcasting the entire Bitcoin blockchain, so that can reach the main continental masses.
Initially the startup had only four satellites that broadcast in the regions of North America, South America, Europe and Africa. Now with the addition of the fifth satellite, the coverage will expand significantly and will also target the Asia-Pacific region.
The new application programming interface (API) has a lot to offer its users. First, users have the power to send encrypted messages to one another, even if they are in some of the more remote regions. And they can actually pay for those messages in Bitcoin via the lighting network.
In addition to providing its users with an economical way to send smaller Bitcoin payments, the newly integrated Lightening network also facilitates micro-transactions per kilobyte and onion-routing technology, which protects the sender, recipient and content as well. from any third-party observation.
In addition, the new API has also touched on the area of data transmission. Initially, the data transmitted was only information on the final transaction blocks. Now, the new API expands to include all Bitcoin transactions.
The main objective of this rather ambitious space initiative is to free the use of cryptography from its dependence on access to the Internet, while strengthening the Bitcoin network to the maximum.
We see the greater robustness of the bitcoin network and lower cost of ownership helping to help companies rely on backup service and emerging markets as a primary access to the bitcoin network at a lower cost.
Blockstream CEO Adam Back said.
With this latest expansion of the satellite network, Blockstream literally covers the entire globe, except the regions of Greenland and Antarctica.
Who knows, maybe with the passage of time Blockstream actually reaches global domination. Until then, stay tuned to BlockPublisher for more details.
