Blockstream

Liquid Network

The Liquid Network is a Bitcoin sidechain developed by Blockstream to enhance transaction speeds and security for financial applications. It enables trustless Bitcoin swap settlements and secure smart contracts, which are particularly useful for financial institutions looking to tokenize assets and manage liquidity more efficiently. The Liquid Network has seen growing adoption and transaction volumes, achieving all-time highs recently.

Bitcoin Mining

Blockstream has made significant strides in the Bitcoin mining sector. The company offers colocation services through its enterprise-class mining facilities located in North America. In 2021, Blockstream acquired the Israeli mining hardware manufacturer Spondoolies, marking its entry into the mining hardware market. The upcoming release of the Cyberhornet ASIC miner in Q3 2024 represents a major milestone in their mining operations.

Core Lightning and Greenlight

Blockstream’s Core Lightning is a popular implementation of the Lightning Network protocol, designed to facilitate faster and more cost-effective Bitcoin transactions. Greenlight, another innovative product, hosts Lightning nodes in the cloud, reducing the technical burden for businesses and individuals while maintaining the security of private keys. The integration of Greenlight with Blockstream Green, the company’s software wallet, further underscores their commitment to non-custodial solutions.

Partnerships and Collaborations

Blockstream has formed several strategic partnerships over the years to expand its reach and capabilities. Notable collaborations include projects with Block, Inc. (formerly Square), and Tesla to build renewable energy-powered Bitcoin mining facilities. Blockstream also partnered with Intercontinental Exchange Inc. (ICE) to launch a cryptocurrency market data feed and with Digital Garage to create Crypto Garage, targeting the Japanese institutional market.

Future Directions

Blockstream continues to innovate and expand its offerings in the Bitcoin and blockchain space. The upcoming release of the Cyberhornet ASIC miner is highly anticipated, and the company is expected to make further announcements in its next media briefing towards the end of 2023. With its strong focus on enhancing Bitcoin’s infrastructure and usability, Blockstream remains at the forefront of blockchain technology development.