Bitmain, one of the leading mining company, has acquired a developer of open-source wallet for Bitcoin Cash.
The coin wallet Telescope is a browser instrument for transactions of Bitcoin Cash. The project was launched in 2018. The developer has provided wallet for Google Chrome and Mozilla Firefox browsers and plans to keep working on the expansion and add more browsers to run their wallet.
As Bitmain CEO commented, Telescope has a good potential being a promising technology as browser wallets. In this context, the company is looking forward to closing cooperation with the Telescope developers under further business expansion as well as new projects.
According to the available data, the wallet can store keys in the browser extension and supports such payment systems as BitPay and moneybutton.com.
Bitmain is said to hold some 6% of total Bitcoin Cash coins. This decision has somewhat confused the market especially given that the company assets lost value when the market drifted downwards this year. Specifically, Bitmain has reportedly lost 20% of the capital, which was some $900 million in early 2018 over the past 10 months.