Blockstream expands to Asia-Pacific region
- 1 month ago
Blockstream has taken another giant step towards the ability to send payments through outer space by bolstering its satellite service in the Asia-Pacific region.
The satellite service allows users to make transfers through leased satellites, so far Africa, Europe and the Americas have the access, where individuals with a limited access to internet or bitcoin.
The blockchain-based firm has also added aid for the lightning network, a bitcoin scaling solution that makes micropayments feasible by keeping them off the blockchain, sidestepping network transaction fees.
CEO Adam Back stated, “There are third-party developers that have taken an interest to build local infrastructure using the satellite service, for example connecting it with mesh networks to make bitcoin more accessible in emerging markets,” pointing out the positive feedback on the service since its launch on 2017.
As far as the lightning network system is concerned, he commented, “Lightning adds privacy due to its use of onion routing, and off-chain netting; and lightning better supports micropayments that are lower transaction cost, faster and more scalable. These are advantages for retail and web API use-cases generally, and help make the satellite data API service efficient and connect in with other bitcoin-related infrastructure.”
In order to experience the service, users require a small satellite dish which is connected via a USB to their computer or hardware.
Source: Smart Trend Team