What problem does this service solve?

Blockstream is an influential blockchain technology company that is one of the largest contributors to the Bitcoin Core. It offers software and hardware solutions, as well as professional services.ChainLink wants to solve the connectivity problem facing smart decentralized applications. By connecting smart contracts to external data resources, many potential use cases for blockchain can be opened up.

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Company Description

Blockstream is a private, for profit, blockchain technology company, that has played a key role in helping to develop, and fund, many of the key features of the Bitcoin Core platform. Blockstream is focused on developing bitcoin applications and has raised significant funding from several large investment funds. The company also employs several developers that are very influential within the Bitcoin Core development project. This, as well as being of Bitcoin's largest donors, has led to some criticism about conflicts of interest.
Blockstream is developing a number of Bitcoin applications that are intended to encourage adoption and improve transaction times on the bitcoin network. Their primary focus is on Sidechains, which are are extensions to existing blockchains that improve their functionality. The company is also working closely with industry leaders to create the Bitcoin Lightning system that will support higher trading volume and faster transactions on the bitcoin network. Blockstream is also developing a data feed, satellite network, and other applications that they hope will make blockchain more accessible.

ChainLink is developing the LINK Network, which will enable connected smart contracts. LINK will provide smart contracts with a variety of external data and access to APIs. ChainLink's goal is to solve the connectivity problem that plagues smart contract based systems, and discourages mass adoption. Many decentralized applications are unable to connect with important external data sources due to limitations involving their consensus protocols. The LINK network wants to connect their smart contracts with external systems and APIs by using secure middleware.

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