The bitcoin is hitting new highs both literally and figuratively. First, the the most famous cryptocurrency skyrocketed to $5.000. Then, the first bitcoin transaction in space via Blockchain Satellite, took place on August 21, 2017.
The transaction was conducted on a computer not connected to the Internet. Blockchain Satellite Blockstream CEO Adam Back confirmed the success of its first attempt. The company said that now it is fully prepared to conduct similar transactions around the world. Using space satellites, Blockstream plans to expand usage of the bitcoin to the darkest corners of the world, more specifically, to countries with unstable national currency and poor Internet access. First of all, of course, to Africa. However, to use these benefits of civilization, it is necessary to have at least a 45-centimeter satellite dish, for example from satellite TV, a PC or a piece of dedicated computer hardware such as Raspberry Pi. Back noted that a 64 kbit/s connection is enough to provide sufficient bandwidth to maintain low latency synchronization. Although at the moment, you still need an Internet connection to send the bitcoins, in the near future an SMS will be enough.
However, use of satellites may violate the main principle of the bitcoin - decentralized control. Earlier, former Bitcoin Core developer Jeff Garzik planned to launch a similar project in 2014, called BitSat, but abandoned this idea. Commenting on Blockstream's plans, Garzik said that the use of the satellite suggests some kind of centralization.
