A South American Bitcoin service startup launched the first Bitcoin node connected to the Blockstream satellite network in Venezuela.
According to a blog from Cryptobuyer emerging on September 25, the launch of the node will allow updating of the Bitcoin blockchain (BTC) for Venezuelan users without relying on the local internet connection. Crypto training provider AnibalCripto distributed the node and CryptoBuyer provided financial and logistical support.
AnibalCripto, CEO of AnibalCripto, said: “Having a digital cash system that is always available 24/7, and independent of the local internet infrastructure, is now a reality.” “With this development, we are no longer subject to requirements such as the use of an internet service provider that may attempt to violate the privacy and decentralization principles underlying this cypherpunk technology.”
According to CryptoBuyer CEO Jorge Farias, the addition of the node made it possible to offer “real, tangible products that solve real problems” in Venezuela. As of 2017, the country had one of the lowest internet speeds recorded in the world at 2.8 Mbps. Technology that offers Bitcoin transactions without the internet can be very attractive for cryptocurrencies. disagrees with:
“Users cannot afford to be disconnected from the Bitcoin network.”
Cryptobuyer said it will help install more satellite nodes in the capital, Caracas, as well as in the southern state of Bolivar, with the goal of giving all Venezuelans better access to the Bitcoin blockchain. It has been reported that users within the scope of the contract will be able to communicate via local area networks.
The Blockstream Service, consisting of six geostationary satellites, provides information exchange between cryptocurrency users in nearly every corner of the world. The Canadian blockchain company announced in May that it had upgraded its satellite network, which carries the Bitcoin blockchain, for the first time since 2018. The company said the technology is “able to synchronize the entire Bitcoin node from the formation block until today.”