Categories: EducationFAQ

What Is txTenna?

Even though Bitcoin and other cryptocurrencies are innovative, they all share a major weakness. People who cannot access the internet for whatever reason cannot use these protocols to their full capacity. The txTenna application will change all that, as it will not require an internet connection to send Bitcoin.

The Concept of txTenna

While it sounds interesting on paper, it remains to be seen if txTenna will become a success. This upcoming Android application is the result of a collaboration between Samourai Wallet and goTenna. Both companies acknowledge that Bitcoin payments need to be made more accessible irrespective of one’s access to the internet. Doing so is much easier said than done, however.

How Does it Work?

To most people, it sounds impossible to conduct Bitcoin transactions without an active internet connection. Even when using third-party tools, having some form of connectivity is still required at some point. txTenna will remove that barrier, which could potentially expose millions of users to cryptocurrency in the years to come – assuming this application works as advertised.

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The txTenna application will allow users to sync their mobile device with a goTenna device. It was to be expected that some external hardware would be needed, as this would be unfeasible otherwise. The additional hardware comes in pairs and is sold for $179. Using the companion Android app, users can then transact offline and send BTC accordingly.

One major limitation is that one’s signal needs to be within one mile of another active device. Through this mesh network, transactions can be bounced and broadcast accordingly. In order for this to work, it will need to be adopted by the masses in short order. goTenna has sold 100,000 devices so far, but that is still a drop in the proverbial bucket.

Will it Succeed?

The big question is whether or not the txTenna idea can gain any major traction. Bitcoin is a very niche market these days, and attracting people outside of this ecosystem to facilitate BTC transactions using somewhat pricey hardware which serves no other purpose might not necessarily work. Even so, it is a remarkable venture.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

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