Maxwell, along with several others, founded Blockstream 2014 to build financial infrastructure and applications based upon bitcoin. In 2014, Blockstream raised $21 million to help push forward bitcoin’s development and to work on ‘sidechains’ that could facilitate the transfer and exchange of assets from bitcoin to other blockchains, and could also help bitcoin scale its transaction capacity.
However, Blockstream has historically been a contentious organization within the crypto community. Some in the community have asserted that Blockstream is a threat to bitcoin’s decentralized nature, while others praise it as a necessary given that bitcoin’s core technology has historically suffered from a lack of well-funded developers.
Authored by John Metais