The Blockstream Satellite 2.0 allows users to easily sync an entire node without connecting to the web. Besides, it will also facilitate internet-free BTC transactions and information sharing among crypto users across the globe.
Canada-based blockchain services company Blockstream has attained a major breakthrough in the development of its Bitcoin Satellite Network. On Monday, May 4, Blockstream announced an upgrade to its satellite network for the first time in two years.
We’re also announcing preorders for our brand-new Satellite Kits. Keep an eye open on the #BlockstreamStore for the Basic and Pro kits as well as the Flat Panel Antenna with an integrated LNB! 📡 https://t.co/qu6da5g7NM pic.twitter.com/l3TFjwMQBs
— Blockstream (@Blockstream) May 4, 2020
As part of the Blockstream Satellite 2.0 development, the company has now made data rate many times faster. Thus, users can now easily sync an entire node without connecting to the web. Furthermore, the Blockstream Satellite service will facilitate internet-free BTC transactions and information sharing among crypto users across the globe. The announcement reads:
“Instead of requiring users to connect their Bitcoin full node to the internet for the initial sync—as was the case with 1.0—Blockstream Satellite 2.0 now enables full history synchronization! Blockstream Satellite users can hook up a Bitcoin full node and fully download the entirety of the Bitcoin blockchain, from the original 2009 genesis block right up to today’s latest transactions…absolutely no internet required!”
To make this possible, the company has reportedly leased six geo satellites. These satellites will broadcast the blockchain to Europe, Africa, North America, South America, and the entire Asia Pacific Region.
The network version 2.0 now features a standards-based transmission protocol DVB-S2 protocol. This protocol offers higher signal reliability, spectral efficiency, and much higher bitrates.
Blockstream Satellite 2.0: Increased Data Rate and Performance
Blockstream said that its network version 2.0 comes with 1.6 Mbps data capacity, which is 13x higher than the data capacity in the previous version. Moreover, with four times the spectrum size, the bandwidth increases from 300 kHz to 1.2 MHz.
Besides, the new technology introduced also reduces the transmitted data by nearly 50% which multiplies the data rate by 25x compared to the previous version. This is the first major upgrade coming from Blockstream since it introduced its Application Programming Interface (API) in December 2018. Taking a jibe at the Ethereum blockchain, Blockstream Chief Strategy Officer (CSO) Samson Mow tweeted:
“It takes less time to sync a new Bitcoin full node over Blockstream Satellite than it does to sync a new Etherium full node over broadband.”
The company is also working on pre-sale of two of its specialized satellite kits. The “Blockstream Satellite Basic Kit” will cost around $229 that comes along with a Linux-compatible consumer-grade receiver like Raspberry Pi.
Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
