The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin in Space: BitMEX Tests Satellite Crypto System

by Daily Hodl Staff
September 20, 2020
in Bitcoin

The research division of crypto exchange BitMEX is testing a satellite Bitcoin system that can run a node via satellite without an internet connection.

In a new blog post, BitMex says it has successfully installed a Blockstream Bitcoin satellite system following its recent experiment with Bitcoin miners. The team used a Blockstream Satellite pro kit and Blockstream’s flat-panel antenna with a total cost of $1,200.

Source: BitMEX

The installation itself took a few hours, BitMex says.

“Essentially all one needs to do is install the satellite dish, point it in the right direction, connect it to a laptop running Linux and run some custom Blockstream software, along with a modified version of Bitcoin Core 0.19.1.” 

After syncing, the satellite-based node lagged behind the nodes connected to the internet by around two minutes based on BitMEX’s experience, suggesting that receiving and verifying the complete history of the block can involve a slight delay when using only the satellite.

“The client downloads the blocks in chunks, firstly the block header in chunks, followed by the main body of the block, again in chunks. Based on the way the satellite broadcasts the block data, the node does not always download blocks in a continuous order and is able to fill the gaps of missing blocks later on.”

The satellite makes it possible for users to sync their Bitcoin node and even download and verify full blocks without ever having to connect to the internet, so users who find themselves in a remote area with no internet connection may find the satellite useful. It could also mitigate the risk of an eclipse attack, according to BitMEX.

In May, blockchain technology firm Blockstream rolled out a major upgrade to its free satellite services. The upgrade eliminated the system’s reliance on an internet connection while increasing data capacity from 120 kbps to around 1.6 Mbps.

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • BlockJoy Secures Nearly $11 Million From Gradient Ventures, Draper Dragon, Active Capital and More To Launch Decentralized Blockchain Operations
    February 2, 2023
  • Peer Acquires Elite Team of Engineers Behind Zenly’s Popular 3D Maps
    February 1, 2023
  • Sign Up Today for the TRON Grand Hackathon aka HackaTRON Season Four
    February 1, 2023
  • MegaWorld Land Gameplay on BNB Chain Starts February 15, 2023
    February 1, 2023
  • Web 3.0 Hackathon on Astar Sponsored by Toyota Motor Corporation
    February 1, 2023
  • Match-Trader White Label by B2Broker Gives Brokers a Comprehensive Online Trading Platform With B2Core Integration
    February 1, 2023
  • Addressable Raises $7.5 Million To Enable Web 3.0 Companies To Acquire Users at Scale
    January 31, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,405.27
$23,405.27
0.3%
Ethereum
$1,672.32
$1,672.32
1.04%
Cardano
$0.401691
$0.401691
0.36%
XRP
$0.41182
$0.41182
0.43%
Dogecoin
$0.096276
$0.096276
2.77%

Spotlight

  • DOJ Seeks To Cut Off Sam Bankman-Fried’s Communication With Key People Involved in Fraud Trial
    January 29, 2023
  • Binance Announces New Decentralized Storage System Based on the BNB Chain
    February 1, 2023
  • Trader Who Called Exact Bitcoin Bottom Says One Ethereum Competitor Looks Ready for Massive Breakout
    February 4, 2023
  • Macro Guru Raoul Pal Unveils 2023 Bitcoin and Ethereum Forecast, Says Positive Year Ahead
    January 30, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl