One of the globe’s most popular crypto derivatives exchanges, BitMEX, has announced the installation of a Blockstream Bitcoin Satellite System, which will operate a node without the need for an internet connection.
According to a press release shared with CryptoGround, the satellite will help in downloading as well as verify the Bitcoin blockchain via a satellite even without any internet connection. BitMEX announced:
“We have installed the Blockstream Bitcoin Satellite system, a way to download and verify Bitcoin’s blockchain via satellite, without the need for an internet connection.”
As per the BitMEX’s team, setting up the satellite node was not complex and consumed just a few hours. The team explained that all it took was to set up the satellite dish, tilt it in the right direction, then link it to Linux running laptop and operate various custom Blockstream software alongside a custom type of Bitcoin Core 0.19.1.
[1/3] Bitcoin Satellite— BitMEX Research (@BitMEXResearch) September 14, 2020
We have installed the @Blockstream Bitcoin Satellite system, a way to download and verify Bitcoin’s blockchain via satellite, without the need for an internet connection
📡📡📡@adam3us @Excellion https://t.co/4FmA1v1qon pic.twitter.com/AOy3tWjG31
BitMEX also explained that the most difficult task was to align the satellite dish towards the geostationary satellite. However, through the help of an alignment tool, the team used approximately 15 minutes to set up the dish.
A key issue that has always arisen among Bitcoin worshippers and enthusiasts is what would ensue if the global internet suddenly stopped.
Well, the satellite could be the solution, but only if it has enough bandwidth. As BitMEX explains, ‘it’s a way to download and verify Bitcoin’s network through a satellite, without having to be connected to the World Wide Web.’
BitMEX was quick to point out that whereas many crypto enthusiasts will find the installation of the system quite enjoyable, it will, however, not serve any useful purpose for the majority of the users. The satellite system however can enhance censorship resistance qualities of the Bitcoin network as well as protect against various types of eclipse attacks; hence its existence is a timely and positive development in the crypto space.