According to crypto lore, bitcoin’s meteoric rise will one day culminate in a trip to the moon. It’s not there yet, but Blockstream is trying to take it one step closer with the launch of Blockstream Satellite.
The project, which is currently in its beta stage, uses leased satellites to broadcast bitcoin to users across the world. After receiving blocks from the Blockstream “teleport” stations, the satellites transmit them around the globe so that, with the proper equipment, you can download and update a full node even without internet access. By the end of the year, Blockstream anticipates that almost everyone in the world will live in a region covered by a satellite.
This is a big deal, considering that half of the world’s population does not have Internet access, and those are often the very people who could benefit the most from decentralized currency.
From the announcement:
"Blockstream Satellite is the world’s first service that broadcasts real-time Bitcoin transactions and blocks from a group of satellites in space. With the service, everyone will have free access to the Bitcoin network, in any corner of the world, including the estimated four billion people not currently connected to the Internet, due to lack of availability or affordability."
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According to crypto lore, bitcoin’s meteoric rise will one day culminate in a trip to the moon. It’s not there yet, but Blockstream is trying to take it one step closer with the launch of Blockstream Satellite.
The project, which is currently in its beta stage, uses leased satellites to broadcast bitcoin to users across the world. After receiving blocks from the Blockstream “teleport” stations, the satellites transmit them around the globe so that, with the proper equipment, you can download and update a full node even without internet access. By the end of the year, Blockstream anticipates that almost everyone in the world will live in a region covered by a satellite.
Blockstream satellite
Current Satellite Coverage Map
This is a big deal, considering that half of the world’s population does not have Internet access, and those are often the very people who could benefit the most from decentralized currency.
From the announcement:
Blockstream Satellite is the world’s first service that broadcasts real-time Bitcoin transactions and blocks from a group of satellites in space. With the service, everyone will have free access to the Bitcoin network, in any corner of the world, including the estimated four billion people not currently connected to the Internet, due to lack of availability or affordability.
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However, you will still need Internet access to actually transact on the bitcoin network, although it is probable that communications technologies will be developed to facilitate such off-grid transactions.
Connecting to Blockstream Satellite will require some specialized equipment as well as technical aptitude. Blockstream estimates the total cost, aside from a computer, is about $100.
To connect to the satellite network, you will need these materials.