Earlier this week, Blockstream announced that its satellite service has been expanded to the Asia-Pacific region. This means that bitcoin users from around the globe will be given a nice boost in regards to their ability to send transactions through space.
Additionally, Blockstream added support for lightning network transactions. The newly added support will allow users to pay for the service with the “layer 2” scaling solution. The first Blockstream satellite was launched back in August 2017. It allowed for users to transfer bitcoins through other leased satellites. At the time, the service was only available for users from Europe, North and South America and Africa.
Adam Back, the CEO of Blockstream said that the service’s main goal was to help users who had problems with limited Internet access.
Back also said that:
“Many third-party developers have reached out to us and shared their growing interest in building a local infrastructure via the satellite service. The service can be connected with mesh networks to make cryptocurrencies even more accessible to emerging markets.”
Privacy is another key issue which is tackled by lightning. Due to the use of onion routing and off-chain netting, the lightning network shows better support for micropayments. Back also stated that due to the Blockstream satellite using passive receiver technology, user statistics cannot be shared at any time.
Blockstream takes into consideration people’s financial options
While most people think satellite services are extremely expensive to use, this is no longer the case. In order to use the service, users only need to use a small satellite dish. TV satellite receivers can also be used if they are connected by USB to a computer. GNU Radio is an open-source software, which can be used to manage the connection.
One of the biggest perks is that despite relying on local internet, is that the internet providers are unable to see the transactions. The system can also auto-recover from a 24-hour outage in user equipment by continuous retransmission of recent data as well as live data.
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