Bitcoin [BTC] network splits can be prevented by Blockstream Satellite, says Chief Strategy Officer |
Samson Mow, Blockstream’s Chief Strategy Officer appeared in the latest Keiser Report discussion featuring Max Keiser. Talking about the satellite, Mow said that the purpose of Blockstream satellite was to provide redundancy for the Bitcoin [BTC] network.
The financial system built on Bitcoin needed to have redundancy and that is where Blockstream satellite came into the picture. The officer cited that the satellites are in geosynchronous orbit [orbital period the same as the Earth’s rotation period] broadcasting the Bitcoin blockchain. Explaining the satellite’s functionality of redundancy in a satellite level, Mow said,
“.. what that does is it prevents Network splits for Bitcoin so if a cable is cut in, say a country, Malaysia, or something, then potentially they could fall out of sync with the rest of the network but as long as one person in Malaysia is running a Blockstream satellite node and has a dish they’ll keep the whole country in sync”
Blockstream Satellite was recently in news for its plans to integrate with a Brooklyn-based firm GoTenna which allowed users to send messages to its users without the need for an Internet connection. GoTenna leverages its own “mesh network” for the purpose and users should be within a mile to complete the transaction.
Blockstream Satellite, the Bitcoin transmission service is a network of satellites deployed by BTC tech firm Blockstream enabling people across the planet to download a BTC full node through a secure channel without the need for an Internet connection. The users, however, must install a satellite receiver with Blockstream Satellite’s specific software.
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