Cryptocurrency News

Telescope Bitcoin Cash [BCH] Digital Wallet Acquired By Bitmain Inc.

Open source browser-based crypto wallet ‘Telescope’ has formally proclaimed its acquisition by Bitmain Technologies Inc. which is the world’s largest crypto mining machine manufacturer globally that additionally runs one amongst the world’s most extensive crypto mining pools. The move outcomes at this crucial time from Bitmain are stating its increased involvement within the Bitcoin Cash [BCH] ecosystem as it continues to reinvent itself as over simply more than an ASIC manufacturer prior its planned mega-IPO in Hong Kong.

The open digital crypto wallet is a browser-embedded crypto wallet also permits its users using Google Chrome and Mozilla Firefox to send and receive BCH through a browser extension. Established earlier in 2018 by former IBM technologist ‘Aaron Angert’, Telescope additionally offers support for BitPay and MoneyButton. whereas it’s presently optimized for Chrome and Firefox. However, Telescope further plans for applying eventually attaining full support for other leading browsers as the project grows.

The Digital wallet’s transactional keys are stored within the application’s browser extension, then transactions are digitally signed by the user’s browser directly and sent to a BCH block explorer. Cross-browser personal keys are encrypted employing the blockchain, guaranteeing safe storage of user funds, just alike other standalone cryptocurrency wallets.

The company’s Lead Developer ‘Aaron Angert’ while addressing Bitmain’s acquisition of Telescope added:

“I am very pleased with what Telescope has been able to achieve so far and am excited for its future with the additionally facilitate and support Bitmain. We are honored to be a part of the Bitcoin Cash [BCH] community, as a vibrant assortment of people contributing towards the event of blockchain technology along with the cryptocurrency phase.”

Head of International PR and Communications at Bitmain ‘Nishant Sharma’ while addressing ‘Telescope’ said:

“We are very pleased with Telescope wallet and the simple but key innovation technique that the project brings to the Bitcoin Cash [BCH] eco-system. Browser-embedded cryptocurrency wallets are a promising technology. The Telescope development team is doing a fascinating work and we forestall to work along with them on the Telescope project and future Bitcoin Cash [BCH] related projects.”

Earlier in Aug., it was reported that Bitmain is sitting on Bitcoin Cash [BCH] reserves value nearly to $600 Mln, or over 5% of all the 17.3 Mln BCH existing. The acquisition of Telescope comes as Bitmain’s latest bet Bitcoin Cash [BCH], once the corporate threw its weight behind the faction that turned into BCH throughout the bitterly-contested bitcoin fork in the previous year.

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