Spacecoin XYZ has taken a giant leap towards securing blockchain networks in outer space with the successful launch of their first satellite! This groundbreaking move marks the beginning of a new era for the project as they plan to establish a constellation of satellites to bring their “Spacecoin layer” online.
The satellite was launched as part of SpaceX’s Falcon Heavy rocket, lifting off at 3:34 am local time in California on December 21st. Cointelegraph caught up with Spacecoin co-founder Daniel Bar who revealed that the first satellite is just the beginning. They plan to launch a total of seven to ten more satellites by 2025, which will be enough to bring their mainnet online.
The satellite consists of two “crypto engines,” each about the size of a desktop hard drive, and another data module about the size of a Macbook. These modules are attached to the satellite’s “bus” and are powered by solar panels when deployed in orbit. In addition to providing security for blockchain networks, Spacecoin also envisions creating a celestial services marketplace where users can buy and sell goods and services related to space exploration.
Dahlia Malkhi, a professor of computer science at the University of California Santa Barbara and advisor to Spacecoin, explained that their ultimate goal is to establish a trustworthy hardware platform that offers unparalleled levels of security compared to those available on Earth. Their innovative approach involves building a decentralized physical infrastructure network (DePIN) using a fleet of nanosatellites.
This two-tiered design includes an outermost layer called the “Celestial Chain” operating in space and an inner layer called the “Uncelestial” network based on Earth. By leveraging these unique characteristics of space, Spacecoin hopes to revolutionize the way we approach blockchain technology and its applications.
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