CryptoBuyer Launches First Bitcoin Node Connected To Blockstream Satellite Network Within Venezuela
CryptoBuyer Launches First Bitcoin Node Connected To Blockstream Satellite Network Within Venezuela
September 30, 2020
CryptoBuyer Launches First Bitcoin Node Connected To Blockstream Satellite Network Within Venezuela
CryptoBuyer Launches First Bitcoin Node Connected To Blockstream Satellite Network Within Venezuela
September 30, 2020

CryptoBuyer, a Bitcoin services startup based in South America, has launched the first Bitcoin node connected to the Blockstream satellite network within Venezuela.

It has been reported that the launch of the node will keep the Bitcoin (BTC) blockchain updated for Venezuela users without being dependent on a local Internet connection.

However, AnibalCripto, a crypto training course provider, deployed the node while CryptoBuyer provided financial and logistical support. 

Anibal Garrido, the CEO of AnibalCripto, said:

“Having a 24/7 always-available digital money system independent of 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, which may attempt to break the principles of privacy and decentralization that are the foundations of this cypherpunk technology.”

Jorge Farias, the CEO of CryptoBuyer, said that the addition of the node had the ability to offer “real and tangible products that solve real-world problems” in Venezuela. As of 2017, the country had one of the slowest recorded Internet speeds in the world at 2.8 Mbps. Technology that offers internet-free Bitcoin transactions could be quite appealing to crypto users.

ALSO READ :  Federal Reserve Chairman Sees No Issues With The Massive Expansion Of Its Balance Sheet

Farias added:

“Users can’t afford to be cut off from the Bitcoin network.”

Likewise, Cryptobuyer stated that it would assist in the installation of additional satellite nodes in the capital, Caracas, as well as the southern state of Bolivar state, with the goal of providing all Venezuelans better access to the Bitcoin blockchain. Users within range of the nodes will reportedly be able to connect through local mesh networks.

It has been analyzed that the Blockstream service, consisting of six geostationary satellites, provides information sharing to crypto users in nearly every corner of the world. The Canada-based blockchain company announced in May that it had upgraded its satellite network that carries the Bitcoin blockchain for the first time since 2018. 

Thus, the company stated the technology had “the ability to sync a Bitcoin full node all the way from the genesis block up to today.”

ALSO READ :  Forbes Releases Fintech 50 List For 2020 Including Six Blockchain Companies

Source: Cointelegraph


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
Share This

Share This

Share this post with your friends!