There's a Bitcoin services startup based in South America that has just started the first Bitcoin node related to the Blockstream satellite network within Venezuela.
The start of the node will hold the Bitcoin (BTC) blockchain renewed for Venezuela users without being dependent on a limited internet connection according to a Sept. 25 blog post from startup Cryptobuyer.
AnibalCripto which is the crypto training course provider used the node while CryptoBuyer gave financial and logistical support.
“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,” said AnibalCripto CEO Anibal Garrido.
According to CryptoBuyer CEO Jorge Farias, the addition of the node had the capacity to give “real and tangible products that solve real-world problems” in Venezuela.
Venezuela had one of the slowest recorded internet speeds in the world at 2.8 Mbps as of 2017. Technology that allows internet-free Bitcoin transactions could be very appealing to crypto users. Farias told:
“Users can’t afford to be cut off from the Bitcoin network.”
Cryptobuyer said it would help in the installation of extra satellite nodes in the capital, Caracas, also like the southern state of Bolivar state, with the purpose of giving all Venezuelans a better way to the Bitcoin blockchain. Users within reach of the nodes will reportedly be capable to join through local mesh networks.
The Blockstream service which consists of six geostationary satellites — gives knowledge sharing to crypto users in almost every corner on earth. The Canada-based blockchain firm stated in May that it had improved its satellite network that offers the Bitcoin blockchain for the first time since 2018. The business said the technology had “the ability to sync a Bitcoin full node all the way from the genesis block up to today.”
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