Venezuela deployed bitcoin satellite nodes, no network can still send transactions

Venezuela now has its first bitcoin satellite node to process transactions without the need for the Internet. Venezuela's "space node" was established in the country by the team of anibar garido and anibar kripto. It uses technology from blockstream, which is contracted to a satellite (eutelsat-113 in this case) to transfer data from point to point via an offline connection. In countries that lack Internet infrastructure, the impact is enormous.

The idea comes from cryptobuyer, a Latin American start-up dedicated to providing cryptocurrency based payment solutions.

"We started in Venezuela because of the obvious connectivity problem, cryptobuyer has been looking for a way to solve this kind of network free problem," chief executive Jorge Farias said

Nodes on the ground "receive packets directly from the link provided by blockstream via satellite," anibar Garrido said He hopes to expand access by deploying a network similar to a mesh network that can transfer data between devices.

The node antenna deployed in Valencia is one of the three antennas. The other two will be deployed in the capital, Caracas and port odez. Cryptobuyer chose Valencia because it is an industrial city, but there are not many high-rise buildings that hinder signal transmission.

This will be the first step in an ambitious project to help increase the availability of bitcoin in countries where the technological infrastructure is below average. Venezuela has the slowest Internet speed on the continent. The recent failure of its power services has resulted in a lack of power in most parts of the country.