Blockstream

Blockstream
TypeCorporation
IndustryCryptocurrency software
Founded2014
Founders
  • Adam Back
  • Gregory Maxwell
  • Pieter Wuille
  • Matt Corallo
  • Mark Friedenbach
  • Jorge Timón
  • Austin Hill
  • Jonathan Wilkins
  • Francesca Hall
  • Alex Fowler
Headquarters
Menlo Park, California
,
Canada
Key people
  • Adam Back (CEO)
ASN396997 Edit this at Wikidata
Websiteblockstream.com

Blockstream is a blockchain technology company co-founded by Adam Back in 2014.[1]The company develops infrastructure for the Bitcoin network, including sidechains, privacy enhancements, and tools for both institutional and consumer use.[2] It is known for its contributions to Bitcoin protocol development and its suite of Bitcoin-native financial products and services.[3]Blockstream is headquartered in Menlo Park, California, with additional offices in Lugano and Tokyo.[4][5]

The company raised $210 million in a Series B round in August 2021, reaching a $3.2 billion valuation,[6] from investors including venture capital firms Horizons Ventures and AXA Strategic Ventures.[7] In October 2024, Blockstream raised an additional $210 million through a convertible note offering led by Fulgur Ventures, with funds earmarked for expanding its layer-2 technologies, mining operations, and bitcoin treasury.[8][9]

History

Blockstream was founded in 2014 by cryptographer Adam Back, along with Bitcoin developers and cryptographers including Pieter Wuille and Gregory Maxwell.[citation needed] Blockstream developer Rusty Russell was one of the first developers to try implementing the Lightning Network during the summer of 2015.[10]

Blockstream raised $21 million in seed funding in 2014.[11]

In early 2018 Blockstream announced a partnership with Intercontinental Exchange Inc. (ICE) to launch a cryptocurrency market data feed.[12]

Products

The Liquid Network

On October 12, 2015, Blockstream announced the release of its Liquid sidechain prototype which could allow for the transfer of assets between the Liquid sidechain and the bitcoin main blockchain.[13][14][15] On October 11, 2018, a production-ready implementation of the Liquid sidechain was officially launched, called the Liquid Network,[16] which is designed to facilitate interoperability between the bitcoin main chain and the Liquid sidechain to extend bitcoin's capabilities.[17][18]

Blockstream claims that Liquid reduces the delays and friction involved in a normal transfer of bitcoin. Blockstream asserts participating exchanges–including Bitfinex, BitMEX and OKCoin[16]–can reduce counterparty risk for traders and enable near-instant financial transactions between their platform and other exchanges or a trader's wallet(s).[19] New blocks are added to the Liquid sidechain every minute, as opposed to bitcoin's 10-minute block interval.[20]

Blockstream Satellite

In 2017 Blockstream announced the availability of one-way satellite broadcasting of the full bitcoin blockchain.[21][22] In 2018 Blockstream extended the bitcoin satellite network.[23]

References

  1. ^ "Blockstream is Betting on Bitcoin Comeback as it Hoards Crypto Mining Rigs". Bloomberg News. August 15, 2023. Retrieved June 12, 2026.
  2. ^ "2015 will be a make-or-break year for Bitcoin". Vox. 2015-01-04. Retrieved 2026-06-11.
  3. ^ "Bitcoin's quantum security debate heats up after developer clash | Bitget News". Bitget. Retrieved 2026-06-11.
  4. ^ "Bitcoin Adoption: Blockstream Introduces Research Center In Lugano For Development On Liquid, Lightning | Crowdfund Insider". www.crowdfundinsider.com. 2024-11-12. Retrieved 2026-06-11.
  5. ^ "BLOCKSTREAM USA CORPORATION - LEI: 254900LVTY5SBXO10O98". Bloomberg LEI. Retrieved 2026-06-11.
  6. ^ Bambysheva, Nina. "Satoshi Nakamoto Source Adam Back Raising $210 Million For His Bitcoin Infrastructure Provider Blockstream". Forbes. Retrieved 2021-09-26.
  7. ^ "Bitcoin startup blockstream raises 55 million in funding round". Wall Street Journal. 4 February 2016. Retrieved April 10, 2016.
  8. ^ "Blockstream Raises $210 Million Through Fulgur Led Convertible Note Offering". Bloomberg. 15 October 2024. Retrieved 22 March 2026.
  9. ^ Godbole, Omkar (15 October 2024). "Blockstream Raises $210M in Convertible Note Financing Round". CoinDesk. Retrieved 22 March 2026.
  10. ^ Upson, Sandra (19 January 2018). "The Lightning Network Could Make Bitcoin Faster—and Cheaper". Wired. Retrieved 30 March 2020.
  11. ^ "Bitcoin Infrastructure Provider Blockstream Hits Unicorn Status With New Financing". finance.yahoo.com. August 25, 2021.
  12. ^ "NYSE's Owner to Launch Bitcoin Firm, Futures Contracts". Wall Street Journal. 3 August 2018. Retrieved 26 March 2020.
  13. ^ Casey, Michael J. (9 June 2015). "BitBeat: Blockstream Unveils Much-Awaited First Sidechain Prototype". WSJ (Blog).
  14. ^ Vigna, Paul (13 October 2015). "BitBeat: Blockstream Releases Liquid, First 'Sidechain'". WSJ (Blog). Retrieved 10 April 2016.
  15. ^ Chishti, Susanne; Barberis, Janos (February 29, 2016). "Application Stacks". The FINTECH Book: The Financial Technology Handbook for Investors ... Wiley Publishing. p. 219. ISBN 978-1-119-21887-6.
  16. ^ a b "New Crypto Consortium Seeks to Alleviate Liquidity Problems". Bloomberg. 11 October 2018. Retrieved 20 December 2018.
  17. ^ Swan, Melanie (January 1, 2015). Blockchain: Blueprint for a New Economy. O'Reilly Media. ISBN 978-1-4919-2049-7.
  18. ^ "Data Security Is Becoming the Sparkle in Bitcoin". The New York Times. 1 March 2015. Retrieved 28 March 2020.
  19. ^ Ji-hyoung, Son (30 April 2018). "[Herald Interview] Blockstream CSO urges crypto caution". The Korea Herald. Retrieved 30 March 2020.
  20. ^ Van Hijfte, Stijn (2020). Blockchain Platforms: A Look at the Underbelly of Distributed Platforms. Morgan & Claypool Publishers. p. 122. ISBN 9781681738925. Retrieved 31 October 2020.
  21. ^ Russo, Camila (15 August 2017). "Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge". Bloomberg. Retrieved 30 March 2020.
  22. ^ Lovelace Jr., Berkeley (8 December 2017). "Bitcoin 'can survive an apocalypse' using old-school technology, says CoinDesk researcher". CNBC. Retrieved 30 March 2020.
  23. ^ "Who Needs Verizon? Blockstream Broadcasts Entire Bitcoin Blockchain From Space". Forbes. 17 December 2018. Retrieved 1 January 2018.

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