You might have followed the many satellite launches from SpaceX recently, releasing hundreds of Starlink satellites.  The proclaimed internet service would become high speed and low latency, wich a reach around the globe. 

To do so satellites orbit must orbit at a much lower altitude than regular, 550 kilometres above sea level. The company has applied for permission to put many more satellites into orbit than are currently orbiting Earth at this time, a request for 42,000 satellites.

Currently, SpaceX has fewer than 600 satellites up in the skies, early beta testing has bee n performed and results suggest that the company could offer better service than some existing providers. Ookla speed test results shared on Reddit show download speeds between 35 and 60 Mbit/s, upload speeds vary from about 5 to 18 megabits per second, response times between 31 and 94 milliseconds.

That all might not sound impressive with a promised 1 Gbps and 10 ms in mind, but remember less than 600 satellites are in orbit, with an aim for 42,000. Also this all is in beta of course. Pricing and launch date for the Starlink service are not yet clear, but the company's website previously suggested that the services could be rolled out this year.

SpaceX Starlink satellite internet service first speeds tested/listed