Blockstream, the company behind the Bitcoin bonds in El Salvador, plays a crucial role in the Bitcoin world. With their involvement in the entire Bitcoin industry chain, Blockstream has built a comprehensive product matrix that covers various aspects of Bitcoin development, institutional services, and mining.
One of their key products is the Bitcoin sidechain called “Liquid.” This sidechain allows for the issuance of securities tokens and other digital assets, providing financial products and services through the Bitcoin network. It serves as a second layer network for Bitcoin, expanding its capabilities and enabling financial asset settlement.
In addition to Liquid, Blockstream offers a range of free products that contribute to the Bitcoin ecosystem. These include the Blockstream Satellite, a network that allows for broadcasting Bitcoin transactions via satellite, the Blockstream Green multi-signature wallet, and the c-lightning client for the Lightning Network.
Blockstream has also ventured into the mining industry, collaborating with companies like Aker, Square, and BlockFi to provide Bitcoin mining services. They have developed solutions like Blockstream Energy, which helps energy producers sell excess electricity to miners, improving the efficiency of renewable energy projects.
By acquiring Spondoolies, a Bitcoin mining hardware manufacturer, Blockstream has strengthened its position in the chip manufacturing sector. They now have a comprehensive product matrix that covers nearly all dimensions of Bitcoin, including development, institutional services, and mining.
The core of Blockstream’s product matrix is the Liquid sidechain. Although their other products are interconnected, Liquid remains their priority. Blockstream aims to integrate their wallets with the Liquid network and focus on its growth.
Blockstream’s involvement in Bitcoin development has sparked some controversy within the community. While their developers contribute to the open-source Bitcoin Core project, they are also employees of Blockstream. This has raised concerns about the independence and neutrality of Bitcoin’s core development.
Blockstream has played a significant role in the Bitcoin scaling debate, with some community members accusing them of controlling the Bitcoin code. They have been vocal critics of Ethereum, claiming that it cannot build a truly decentralized financial system and that Bitcoin, along with the Lightning Network and Liquid, is the way to go.
All in all, Blockstream’s influence extends beyond the Bitcoin bonds in El Salvador. They have been at the center of the Bitcoin scaling debate, the development of sidechain and second-layer solutions, and the competition with Ethereum. Their involvement in the Bitcoin ecosystem has shaped the industry in many ways.
