InsideBitcoins.com

Cypherpunks Taiwan Builds Blockstream Satellite For 24/7 Access To The Bitcoin Network

Bitcoin Moves Past $11,000 Mark Momentarily

Cypherpunks Taiwan, a group looking to build “the most influential blockchain, Bitcoin, Ethereum technical Chinese communication platform,” has built another Bitcoin satellite receiver. According to CCN, Taiwan is only the second country to do this, with Japan being the first to build one in 2018.

Building Upon Past Ideas

Reportedly, this technology is meant to utilize the Blockchain satellite project built by Blockstream late last year. Interestingly, China, a country that has some of the most prolific Bitcoin mining, doesn’t allow anything even close to the building of this technology.

However, cryptocurrency influencer Andreas Antonopolous claims that this is exactly what the satellites are for – people who can’t access the Bitcoin network via traditional internet connections. As you may know, China is big on censorship, especially when it comes to cryptocurrencies which would enable citizens to make decisions without the government’s knowledge.

What’s even better is that putting together a receiver isn’t as difficult or expensive as it might seem. According to the publication, installation only costs 13,000 Taiwanese dollars or $418. On top of this, you can buy the specific and necessary tech from Blockstream itself. Learn more about it on the Cypherpunk Taiwan GitHub page.

It’s not easy to run a Bitcoin node or any blockchain node for that matter. That’s not to mention that most blockchains are only growing larger as we speak, with more and more transactions being posted by the minute. Bitcoin’s blockchain, for example, is getting close to 240GB. That’s more than some devices even have storage for. That’s not to mention the fact that downloading all of that data could severely slow down your device should you try to mine or participate in any way that involves people buying Bitcoin.

However, that’s exactly what Blockstream satellites are for: to access the Bitcoin blockchain whenever you’d like, for free.

Top brokers for buying and trading cryptocurrencies

  • Platform
  • Features
  • Rating
  • Visit Site
  • US-Friendly
  • Paypal accepted
  • 12+ cryptocurrencies
4.5/5

Visit Site
75% of retail investors lose money.
eToro Reviews

    eToro Reviews

    https://insidebitcoins.com/visit/etoro-newsCreate your account
    Hide eToro Reviews
    • Best broker for non-US countries
    • Trade crypto CFDs, forex and stocks
    • No withdrawal or deposit fees
    4.5/5

    Visit Site
    80.5% of retail investors lose money.
    Plus500 Reviews

      Plus500 Reviews

      https://insidebitcoins.com/visit/plus500-newsCreate your account
      Hide Plus500 Reviews
      Remember, all trading carries risk. Past performance is no guarantee of future results.
      Avatar

      Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend.