Blockstream has introduced a new service called ‘Blockstream Satellite’ that enables broadcasting of real-time Bitcoin blockchain data, by making use of other communication satellites in space, to everyone else on the planet.
For billions of people across the world who do not have access to the internet and for those who are unable to participate in bitcoin due to higher bandwidth prices, Blockstream Satellite is seen by the company as the next big game-changer.
With this introduction, the service has now been made available to almost two-thirds of the population on earth. As per the firm, by the end of 2017 additional coverage areas will soon be going online to reach almost each and every person on earth.
Dr. Adam Back, co-founder and CEO at Blockstream said: “Because it’s permissionless, Bitcoin enables anyone to freely create new financial applications and other innovations that use the blockchain that haven’t been possible before. With more users accessing the Bitcoin blockchain with the free broadcast from Blockstream Satellite, we expect the global reach to drive more adoption and use cases for Bitcoin, while strengthening the overall robustness of the network.”
Currently, Blockstream Satellite network consists of three geosynchronous satellites that are present in different positions above the earth. It covers four major continents which include North America, South America, Europe and Africa. Additional satellites will be added to the Blockstream Satellite network by the end of 2017 which will enable worldwide coverage. It will extend the reach of Bitcoin to countries where the number of nodes is less.