The 5th Satellite Streaming BTC Blockchain Launched In Space

Blockchain company Blockstream is in our blockchain news today for expanding their satellite service and launching their fifth satellite that will broadcast the bitcoin blockchain from space.

Adding the fifth satellite increases the coverage area and brings a much bigger potential for internet-free BTC transactions and information sharing mostly to users in the Pacific region. Though the satellite is still in beta testing, it is already available across Europe, Africa, and North America.

The company has also launched a new application programming interface that will allow the satellites to be used in order to exchange encrypted messages and users will have to pay for using those using micropayments with the Lightning Network. The Blockstream CSO Samson Mow says that ‘’Bitcoin has always been about uncensorable money and now we have uncensorable communications as well.’’

Blockstram CEO Adam Back told Forbes magazine:

 “We see the increased robustness of the bitcoin network and the lower cost of participation contributing to helping businesses rely on the service for backup, and for emerging markets to use as their primary access to the bitcoin network at a lower cost.”

With the latest launching of the fifth satellite, Blockstream managed to cover the entire globe except for parts of Greenland and Antarctica. The data that is streamed via the satellites covers all historical Bitcoin transaction data.

Blockstream announced their first satellite project last year in August and their goal was to connect ‘’everyone on the planet’’ since there is still limited global internet access in the world.

The idea for launching a Bitcoin satellite, however, is not new. Bitcoin pioneer Jeff Garzik had a BitSat scheme wanting to launch a satellite back in 2014 but the initiative has stopped since.