The Blockstream Satellite network is designed to broadcast the bitcoin blockchain to the entire planet. The satellite network provides an opportunity for nearly 4 billion people without internet access to utilize bitcoin while simultaneously ensuring bitcoin use is not interrupted due to network interruption.
Utilizing the latest open source Software Defined Radio (SDR) technologies, the Blockstream Satellite network offers a breakthrough in the cost effectiveness of satellite communications. Instead of spending thousands of dollars on specialized satellite equipment, the entire cost of all equipment needed to connect your computer to the Blockstream Satellite network is only about $100 USD.
Covering the entire planet is no small task. As such, the coverage of this network is being deployed in 3 phases.
Internet Not Required
Did you know that more than half of the people in the world do not have access to the internet 1?
In some areas, internet access is just too expensive and in others, it simply does not exist. Without access to the internet, more than half of the world’s population is unable to use bitcoin. Until now…
Blockstream Satellite reduces bitcoin’s dependency on internet access. By broadcasting the blockchain to the entire planet via satellite, anyone in the world has an opportunity to use bitcoin.
Massive Cost Savings
Every ten minutes, a new block is added to the Bitcoin blockchain and running a full Bitcoin node requires downloading these new blocks. Over the course of a month, a Bitcoin node downloads approximately 8.7 GB of new blocks.
As the cost of many internet connectivity options throughout the world is often based on how much data is transferred, running a full Bitcoin node can be an expensive venture. Until now…
Blockstream Satellite eliminates these cost barriers and enables people to receive blocks at no cost allowing more people to utilize Bitcoin and participate in the Bitcoin network.
The bitcoin network is robust. Peer to peer networks, like bitcoin, have the unique ability to route around failures by automatically connecting to other nearby nodes. However, network filtering and connectivity failures can cause parts of the network to become divided, leaving some nodes isolated and with an incomplete view the Bitcoin network.
Bitcoin security relies on the Bitcoin network maintaining a single unified ledger of transactions. Temporary network partitions lasting hours create downtime or worse, even security risk for users who transacted on an accidentally incomplete ledger copy – when they later rejoin the actual network, their transactions may be invalid.
Blockstream Satellite provides an alternative method of receiving the blockchain that is not affected by connection failure. This protects against network interruptions and prevents any participating node from becoming isolated or partitioned.
Blockstream Satellite enables the bitcoin network to be more robust than ever before.