Blockstream CSO: Riddance to BTC Network Splits, Deems Lightning Network as a Solution
The Blockstream Satellite is a network that broadcasts the Bitcoin blockchain globally for free. The aim is to prevent network interruptions while ensuring that equal opportunity to experience BTC is evident. As per a recent crypto news media report, the former goal has been met.
In particular, it has been disclosed that the Blockstream Satellite has the ability to prevent the BTC network from splitting (i.e. preventing network interruptions). The Chief Strategy Officer, Samson Mow, met up with Max Keiser on the Keiser Report to expound on the factors that make the Satellite necessary. Here’s an extract of a detailed overlook on how the Satellite works:
“What it does is it prevents Network splits for Bitcoin. So, if a cable is cut in, say a country, Malaysia […] then potentially they could fall out of sync with the rest of the network but as long as one person in Malaysia is running a Blockstream satellite node and has a dish, they’ll keep the whole country in sync.”
Blockstream Satellite has been making waves, as many organizations have since considered its integration. As per the claims made, an example of this is GoTenna, a platform allowing users to send messages without the internet.
All this being said, Mow also happens to have shared his appreciation for the Lightning Network.
Based on Mow’s sentiment, said network can be viewed as a solution because it resolves issues such as block time, fees, etc. More specifically, he said:
“It is the technology that makes Bitcoin, “cash”. So, you can spend Bitcoin anonymously. It has better privacy than the base year, it’s nearly instantaneous.”
He further added that the Lightning Network is fundamental in contributing towards Bitcoin becoming a global currency. Given BTC’s overall performance, and whether it deserves the title of gold crypto, he emphasized that, “If you want money, it does not need to be fancy.”
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