The largest Bitcoin mining firm is in the daily cryptocurrency news – this time for officially announcing the acquisition of Telescope which is an open source and browser-based cryptocurrency wallet.
Bitmain Technologies Inc. also runs one of the world’s most extensive cryptocurrency mining pools and with this recent acquisition, it is increasing its involvement in the Bitcoin cash space as it continues to reinvent itself as more than just an ASIC manufacturer ahead of its planned mega-IPO in Hong Kong.
On the other hand, Telescope is a browser-based crypto wallet that allows users of Google Chrome and Mozilla Firefox to send and receive BCH through a browser extension. It was set up earlier this year by a former IBM software engineer named Aaron Angert and offers support for BitPay and MoneyButton. The wallet is currently optimized for Chrome and Firefox but the plan is to offer full support for other leading browsers in the years to come.
The Lead Developer Aaron Angert has commented on the acquisition of Telescope, stating:
“I am extremely proud of what Telescope has been able to achieve so far and am excited for its future with the additional help and support of Bitmain. We are honored to be a part of the bitcoin cash community, as a vibrant collection of individuals contributing towards the development of blockchain technology and the cryptocurrency industry.”
The Head of International PR and Communications at Bitmain also shared his excitement, stating:
“We are extremely proud of Telescope wallet and the simple but key innovation that the project brings to the bitcoin cash eco-system. Browser-embedded cryptocurrency wallets are a promising technology. The Telescope development team is doing some very interesting work and we look forward to working together with them on the Telescope project and future bitcoin cash projects.”
Earlier, we reported that Bitmain is sitting on Bitcoin cash reserves that are worth nearly $600 million or more than 5% of all the 17.3 million BCH that are in existence.
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