From CryptoMarketsWiki
Jump to: navigation, search

Founded 2014
Headquarters Mountain View, California
Key People Adam Back, CEO and co-founder; Austin Hill, co-founder
Products Develops sidechains for blockchain applications
Twitter @blockstream
LinkedIn Profile
Facebook Blockstream
Website Blockstream home
Blog Blockstream blog

Founded in 2014, Blockstream has raised $101 million in three rounds of venture capital funding.[1]

Blockstream is using its funding to focus on a number of long-term bitcoin development projects in an attempt to address issues like scalability and security.[2]

On January 18, 2018 Blockstream and Intercontinental Exchange Group Inc., the parent of both the New York Stock Exchange and Bakkt, announced that they were partnering to provide a bitcoin and other cryptocurrency data service.[3] Including data from Bitbank, Bitfinex, BitMEX, Bitso, Bitstamp, BtcBox, CEX.IO, Coinfloor, Coincheck, ItBit, Gopax, Huobi, OKCoin, OKEx, SurBTC, The Rock Trading, Unocoin, Vaultoro, and Zaif, the service launched on March 29, 2018.[4] By mid-October, the data feed included 25 exchanges, 17 fiat currencies and 15 cryptocurrencies.[5]

Blockstream Sidechains

Blockstream set out to build technology that would develop bitcoin sidechains between which bitcoins could be transferred using a native token that could always be transferred back into bitcoin. With transactions occurring on and between the sidechains, the expense and delays associated with bitcoin transactions could be avoided.[6] Blockstream builds sidechains on the bitcoin blockchain because the bitcoin blockchain is the most widely used and tested. In a 2016 phone call, then Blockstream CEO, Austin Hill, said, "I think innovation in the space is great and that it is happening because it is hard to update the Bitcoin blockchain. But it is hard to update by design."[7]

On October 10, 2018 Blockstream announced that its Liquid Network, a platform built on a bitcoin sidechain, had launched. The Liquid sidechain, which is meant to facilitate and accelerate confidential transactions both for individuals and businesses, launched with a number of major bitcoin industry partners on September 27, 2018.[8]

In January 2019, the Japanese company Crypto Garage announced that it had received permission to establish a pilot program within the parameters of a Japanese regulatory sandbox program. Crypto Garage will test its new SettleNet platform by inviting local exchanges to issue stablecoins and settle crypto-to-crypto transactions on SettleNet. SettleNet uses a sidechain on Blockstream's Liquid Network. Crypto Garage says that the platform will provide increased regulatory transparency.[9]

Security Tokens

On May 15, 2019, Blockstream announced the launch of a security token platform. The announcement said that the platform will allow Blockstream to issue tokenized securities.[10]