Mining giant Bitmain bought a bitcoin wallet Telescope

[Paha87]

The company Bitmain, which is a leader in the production of mining equipment, acquired a startup that developed a bitcoin wallet Telescope.

The Telescope browser wallet was launched earlier this year to provide instant transactions for the bitcoin network. Currently, Telescope can run on Google Chrome or Mozilla Firefox, according to a press release, although the team plans to expand to other platforms after the acquisition.

Supported by BitPay and moneybutton.com the wallet stores the cryptographic keys in the browser extension, that is, the signed transaction directly to the user's browser. The project behind its creation, said that the storage means in such a manner offers users the same security offline wallets.

Nishant Sharma, head of international press relations and communications at Bitmain, said that Telescope offers "a simple but key innovation" for the bitcoin ecosystem, adding:

The cryptocurrency wallet built into the browser is a promising technology. The Telescope #DevelopmentTeam  is doing a very interesting job and we look forward to working with them on the Telescope project and future projects.

As already reported, Bitmain contains almost 6 percent of the total amount of cash in bitcoin. The company has faced some controversy regarding this decision, given that the company's assets have suffered from the bear market in 2018 and at the same time the company plans to hold an IPO in Hong Kong.

Link to the source of information (Russian) - https://altstake.io/news/mayning-gigant-bitmain-kupilbitkoin-koshelek-telescope