Crypto Mining Giant Bitmain Acquires Telescope Bitcoin Cash Wallet

News | October 3, 2018 By:

Chinese crypto mining giant Bitmain has acquired Bitcoin Cash desktop wallet Telescope for an undisclosed sum.

Launched earlier this year, Telescope is a browser-based cryptocurrency wallet for Bitcoin Cash (BCH). The wallet also supports Bitpay invoices, Akari-Pay, Money Button and other wallet services. Currently, the browser-embedded wallet can operate on Mozilla Firefox or Google Chrome.

The Telescope wallet stores cryptographic keys within a browser extension. The private key will only leave the browser to be synced with other Chrome/Firefox browsers that a user is signed into. Telescope said that encrypting the private key ensures that nobody will know the private key without the password.

Nishant Sharma, Head of International PR and Communications at Bitmain, said that they are extremely proud of Telescope wallet and the simple but key innovation that the project brings to the Bitcoin Cash ecosystem, adding that 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,” Sharma said.

According to leaked documents from Bitmain’s pre-IPO investor deck, as of March of this year, the Chinese crypto mining giant was holding more than 1 million BCH, roughly 5.7 percent of the total supply of Bitcoin Cash.