How to send Bitcoin transaction over Radio

Live Chat Software

This article explains some of the ways of sending bitcoin over radio….






At the Scaling Bitcoin Conference held at Stanford University, Bitcoin pioneer Nick Szabo and former Stanford engineer Elaine Ou introduced a working method of securely sending Bitcoin transactions over radio signals.

Earlier this week, Jameson Lopp, the lead engineer at BitGo and prominent Bitcoin developer, revealed that the presentation of Szabo entailed their successful tests of sending Bitcoin transactions using weak signal HF radio, by operating a Bitcoin SPV client.
bitcoin transaction
Similar to the Bitcoin satellite transaction broadcasting technology developed by Blockstream, the settlement of Bitcoin transactions through HF radio signals can be more inefficient in comparison to processing Bitcoin transactions normally, over the internet.

 However, one advantage of using radio signals and Bitcoin satellites to settle transactions is its ability to reduce censorship and circumvent internet restrictions to send and receive Bitcoin.

In August, Blockstream, a blockchain and Bitcoin development firm, introduced the Bitcoin satellite technology with a shared vision of eliminating censorship and internet resistance in using Bitcoin as a store of value and a digital currency.

Adam Back, the CEO of Blockstream, stated:

Over the past 12 months, an increasing number of governments, authorities, and countries have started to fully regulate Bitcoin as a legitimate currency and currency. Countries like Japan went as far as to declare Bitcoin as a legal currency, encouraging the usage of Bitcoin for payments.

But, inevitably, in the mid-term prior to the global mainstream adoption of Bitcoin, a few countries could attempt to restrict the usage of Bitcoin by imposing restrictions on internet service providers to limit Bitcoin transactions. In such cases, the presence of Szabo’s Bitcoin radio transaction settlement technology and Blockstream’s Bitcoin satellite system would enable users to freely send and receive Bitcoin, circumventing government restrictions with ease.



YOU CAN ALSO READ  Tezos Takes A Hit As Founders Battle Over Fund Control

Action Point

If you enjoy our article, sign up to get our next article in your inbox. You need to confirm your subscription by clicking on the link sent to you. You can check the spam folder for it.

Add us to your mailing list to receive directly from us. Thanks.

image_pdfGENERATE PDFimage_printPRINT

Leave a Reply

Your email address will not be published. Required fields are marked *

CommentLuv badge