Spacecoin XYZ has revealed plans to establish a decentralized physical network in space, envisioned as a foundation for extraterrestrial data centers and the space economy.
Vision for a Space-Based Blockchain Network
The crypto-satellite startup Spacecoin XYZ has introduced a method to launch a blockchain network in space, potentially supporting a future space economy and remaining operational in the event of a global catastrophe. In its Blue Paper, released on November 1, Spacecoin outlines the development of a decentralized physical infrastructure network (#DePIN ) using nanosatellites. Co-founder Daniel Bar stated that this step lays the groundwork for a future “space economy” that could be used by satellites and future space travelers.
The Importance of Protecting Blockchain Beyond Earth
Bar emphasizes the importance of preserving blockchain’s integrity, privacy, and security beyond Earth. “In the case of a global conflict or apocalypse, it’s essential for blockchain and free-market capitalism to survive any threats,” he added. Although this concept may seem ambitious, Bar sees a need to plan for a space economy now, noting Elon Musk’s goal to send people to Mars in the coming years.
Laying the Foundation for the Future Beyond Earth
Spacecoin has already partnered with Aptos Orbital, launching three test satellites. The objective is to build the technological base for expanding the free-market economy beyond Earth.
Why Build DePIN in Space?
According to Spacecoin advisor Dahlia Malki, building a blockchain network in space is crucial not only for resilience to potential disasters but also for enhanced security and new business opportunities. Malki, a professor at the University of California, Santa Barbara, noted that Spacecoin could serve as a data center with security standards unattainable on Earth. “Once the satellite is in space, the hardware cannot be tampered with, offering significant security advantages,” she explained.
Opportunities for a Decentralized Marketplace in Space
Spacecoin plans to establish a marketplace that enables space-based services, such as Starlink or satellite service providers, to conduct transactions without needing to connect to Earth. “To do this effectively, a decentralized infrastructure without control by a single entity is required,” Malki explained.
How Spacecoin Works
Malki explained that Spacecoin features a two-layer design, where the first layer operates in space as the “Celestial Chain” and the second, terrestrial layer is the “Celestial Network.” The Celestial Chain ensures a permanent and immutable history, while the terrestrial layer supports low-latency operations.
Disclaimer: Spacecoin XYZ is an independent project and should not be confused with the project Spacecoin.org.
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