Bitcoin Satellites? Blockstream Hints at “Coming” First Release
Blockstream has hinted its flagship product will involves satellites upon release, leading to industry-wide speculation.
The cryptocurrency community is speculating over the new product Blockstream has announced it will soon release.
In a teaser video about its project, Blockstream says it wants to “connect everyone on the planet” in the face of limited global Internet penetration and even more limited online freedom.
The video specifically shows a satellite orbiting Earth, along with some basic facts about Bitcoin. This, social media commentators are saying, suggests Bitcoin transactions broadcast via satellite.
“As [Elon Musk] & SpaceX revolutionized spaceflight, Blockstream will do the same for Bitcoin. It's coming,” CSO Samson Mow tweeted linking to the video.
Queries are already surfacing as to whether there is an official relationship between Blockstream and SpaceX, the latter aiming to launch thousands of satellites into space by around 2019.
Mow added today that more information would be available “soon” without expanding on a timeframe.
The idea of launching Bitcoin relay satellites is not new, with former Core developer Jeff Garzik’s BitSat scheme seeking to do just that in 2014 but since falling silent.
In May, the company sent the first ever Lightning Network transaction on Litecoin after the altcoin enabled SegWit.