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Blockstream Service To Make Bitcoin Payments Available In Asia

13:17 18/12/2018

Blockstream, a technology blockchain company, has expanded its satellite data transfer service on the Bitcoin network for the countries of Southeast Asia and the Pacific and added support for transactions on the Lightning Network, CoinDesk reports.

 

The Blockstream Satellite service was first implemented in test mode in the summer of 2017. It allowed bitcoin owners to transfer their funds using rented satellites. Initially, it was available for the citizens of Africa, Europe, and America.

Adam Back, CEO at Blockstream, stated that the service is mainly intended for people living in countries where there is no full access to the Internet.

 

There were only positive reviews about the service during the whole time of the project implementation. There are independent developers who are interested in building a local infrastructure with the help of satellite services. It will make bitcoin more accessible in countries with developing economies, Back stressed.

Lightning secures privacy through the so-called onion routing and off-chain networking. The solution supports fast and scalable micropayments and reduces transaction costs significantly, the head of Blockstream added. The advantages of using the service in retail are clear.

 

Back could not provide any statistics on the use of the service since the Blockstream Satellite uses a passive receiver system.

 

As previously reported, the throughput of the Lightning Network (LN) has increased a hundred times since its official launch on the Bitcoin network.

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