As per a September 25 blog post from Cryptobuyer, the roll out of the node will ensure that the Bitcoin (BTC) blockchain remains up-to-date for Venezuela users without a need to depend on domestic internet framework.
AnibalCripto, which offers cryptocurrency education, installed the node while CryptoBuyer offered financial and logistical assistance.
Anibal Garrido, CEO of AnibalCripto, said “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.”
According to CryptoBuyer CEO Jorge Farias, the inclusion of the node has paved way for offering “real and tangible products that solve real-world problems” in Venezuela. Three years back, the country’s internet speed was one of the slowest in the world at 2.8Mbps. Keeping that in mind, it can be argued that technology paving way for internet-free Bitcoin trades could lure crypto users.
Farias said:
“Users can’t afford to be cut off from the Bitcoin network.”
Cryptobuyer stated that it would aid in the deployment of further satellite nodes in the capital, Caracas, and also the southern state of Bolivar, with the objective of offering all Venezuelans better reach to Bitcoin blockchain. Users near the area covered by nodes will supposedly be able to link via domestic mesh networks.
The Blockstream service, made up of six geostationary satellites, shares crypto related info people in almost all parts of the world. The Canada headquartered blockchain company stated in May that for the first time in two years it had amended its satellite network that hosts the Bitcoin blockchain.
Furthermore, the company revealed that the technological advancement enables synchronizing “a Bitcoin full node all the way from the genesis block up to today.”