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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.[10]

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

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.[12][13][14] On October 11, 2018, a production-ready implementation of the Liquid sidechain was officially launched, called the Liquid Network,[15] which is designed to facilitate interoperability between the bitcoin main chain and the Liquid sidechain to extend bitcoin’s capabilities.[16][17]The Liquid Network assists with settlements, confidential transactions, and tokenized asset issuance.[18][19]

Liquid is built using Elements, an open-source sidechain platform designed by Blockstream,[20] which introduces several features including Confidential Transactions, Segregated Witnesses (or SegWit), native asset issuance, and new opcodes.[21]

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[15]–can reduce counterparty risk for traders and enable near-instant financial transactions between their platform and other exchanges or a trader’s wallet(s).[22] New blocks are added to the Liquid sidechain every minute, as opposed to bitcoin’s 10-minute block interval.[23]

Blockstream Jade

Blockstream Jade is a fully open-source hardware wallet introduced in 2021, supporting Bitcoin and Liquid assets. It uses an air-gapped design and QR code communication for transaction security.[24]

Blockstream App

Formerly known as Blockstream Green, the Blockstream App is a non-custodial mobile wallet for Bitcoin and Liquid with advanced multisig security and hardware wallet support.[37][39][25][26] It includes expanded onboarding features and supports both retail and institutional users.[25][27]

Core Lightning and Greenlight

Blockstream maintains Core Lightning (formerly c-lightning), a lightweight implementation of the Lightning Network.[28] Greenlight, allows users and developers to run non-custodial Lightning nodes on demand.[29]

Blockstream Satellite

In 2017 Blockstream announced the availability of one-way satellite broadcasting of the full bitcoin blockchain[30] to enable the propagation of valid bitcoin transactions to people without Internet access or during a disruption event like an Internet blackout.[31] In 2018 Blockstream extended the bitcoin satellite network[32] to four satellites across six coverage zones, adding Asia and Pacific region coverage. It also released API specifications to allow users to send data over its network. The network as of 2019 is only a one-way network and the user still needs a connection to the bitcoin network to send transactions, which can include SMS gateways or higher cost internet. Blockstream’s satellite service has also made efforts to improve network resilience and censorship resistance.[33]

Developer Tools and R&D

Blockstream has created open-source initiatives such as the sidechain development framework Elements,[34] the smart contract language Simplicity,[35] and the two-round multisignature scheme MuSig2.[36]

Industry partnerships

Blockstream employs Bitcoin Core developers.[37]

Blockstream developer Rusty Russell was one of the first developers to try implementing the Lightning Network during the summer of 2015.[38]

In early 2018 Blockstream announced a partnership with Intercontinental Exchange Inc. (ICE) to launch a cryptocurrency market data feed.[39]

Blockstream partnered with Digital Garage, an Internet technology company based in Tokyo, in January 2019 to create Crypto Garage, a bitcoin and blockchain technology company which targets the Japanese institutional market.[40]

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. ^ Shinobi (2025-07-10). “Bitcoin Layer 2: Sidechains”. bitcoinmagazine.com. Retrieved 2026-06-11.
  11. ^ “Bitcoin Infrastructure Provider Blockstream Hits Unicorn Status With New Financing”. finance.yahoo.com. August 25, 2021.
  12. ^ Casey, Michael J. (9 June 2015). “BitBeat: Blockstream Unveils Much-Awaited First Sidechain Prototype”. WSJ (Blog).
  13. ^ Vigna, Paul (13 October 2015). “BitBeat: Blockstream Releases Liquid, First ‘Sidechain’“. WSJ (Blog). Retrieved 10 April 2016.
  14. ^ 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.
  15. ^ a b “New Crypto Consortium Seeks to Alleviate Liquidity Problems”. Bloomberg. 11 October 2018. Retrieved 20 December 2018.
  16. ^ Swan, Melanie (January 1, 2015). Blockchain: Blueprint for a New Economy. O’Reilly Media. ISBN 978-1-4919-2049-7.
  17. ^ “Data Security Is Becoming the Sparkle in Bitcoin”. The New York Times. 1 March 2015. Retrieved 28 March 2020.
  18. ^ “Liquid Network Hits $3.27B Locked Value Milestone – Bitbo”. bitbo.io. 2025-05-23. Retrieved 2026-06-11.
  19. ^ “Blockstream Sponsors The Mempool Bitcoin Project”. bitcoinmagazine.com. 2021-12-21. Retrieved 2026-06-11.
  20. ^ Rizzo, Pete (9 June 2015). “Blockstream to Release First Open Source Code for Sidechains”. CoinDesk. Retrieved 22 March 2026.
  21. ^ Evans, Jon (13 June 2015). “Sidechains And Lightning, The New New Bitcoin”. TechCrunch. Retrieved 30 March 2020.
  22. ^ Ji-hyoung, Son (30 April 2018). “[Herald Interview] Blockstream CSO urges crypto caution”. The Korea Herald. Retrieved 30 March 2020.
  23. ^ 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.
  24. ^ “Blockstream’s Jade Hardware Wallet Adds Lightning Support For Instant Bitcoin Payments”. bitcoinmagazine.com. 2026-03-10. Retrieved 2026-06-11.
  25. ^ a b “Blockstream Launches New App and Outlines Strategic Shift at Bitcoin 2025”. BeInCrypto. 2025-05-29. Retrieved 2026-06-11.
  26. ^ “Best iOS Crypto Wallet For May 2026: Discover the Best Mobile App for Your Crypto Wallet Needs!”. coinbureau.com. Retrieved 2026-06-11.
  27. ^ “Adam Back Presents Blockstream’s Bitcoin-First Infrastructure Vision At Bitcoin 2025”. bitcoinmagazine.com. 2025-05-28. Retrieved 2026-06-11.
  28. ^ “What Implementation Of Bitcoin’s Lightning Network Should You Pick?”. bitcoinmagazine.com. 2022-04-06. Retrieved 2026-06-11.
  29. ^ “Should The Bitcoin “Dust Limit” Be Removed?”. bitcoinmagazine.com. 2021-08-19. Retrieved 2026-06-11.
  30. ^ Russo, Camila (15 August 2017). “Bitcoin Is Literally Soaring Into Space After Rocket-Like Surge”. Bloomberg. Retrieved 30 March 2020.
  31. ^ Lovelace Jr., Berkeley (8 December 2017). “Bitcoin ‘can survive an apocalypse’ using old-school technology, says CoinDesk researcher”. CNBC. Retrieved 30 March 2020.
  32. ^ “Who Needs Verizon? Blockstream Broadcasts Entire Bitcoin Blockchain From Space”. Forbes. 17 December 2018. Retrieved 1 January 2018.
  33. ^ “Bitcoin Lightning Invoice Could Be Relayed via Geostationary Satellite, Suggesting Off‑Grid Payment Potential | Bitget News”. Bitget. Retrieved 2026-06-11.
  34. ^ “Blockstream Moves Ahead With Sidechain Elements, The First Implementation Of Sidechains”. bitcoinmagazine.com. 2015-06-09. Retrieved 2026-06-11.
  35. ^ “Blockstream Launches Simplicity Smart Contracts On Bitcoin’s Liquid Network Sidechain”. bitcoinmagazine.com. 2025-07-31. Retrieved 2026-06-11.
  36. ^ “What Is MuSig2?”. The Bitcoin Manual. 2023-05-11. Retrieved 2026-06-11.
  37. ^ Popper, Nathaniel (25 July 2017). “Some Bitcoin Backers Are Defecting to Create a Rival Currency”. The New York Times.
  38. ^ Upson, Sandra (19 January 2018). “The Lightning Network Could Make Bitcoin Faster—and Cheaper”. Wired. Retrieved 30 March 2020.
  39. ^ “NYSE’s Owner to Launch Bitcoin Firm, Futures Contracts”. Wall Street Journal. 3 August 2018. Retrieved 26 March 2020.
  40. ^ De, Nikhilesh (21 January 2019). “Digital Garage to Test Yen-Pegged Stablecoin on Blockstream Network”. CoinDesk. Retrieved 22 March 2026.