By bringing blockchain into space, SpaceChain validated the creation of a decentralized satellite infrastructure. This strategy allows the technology to reach its full potential for immutability and security. With this seventh payload launch, SpaceChain brings high speed to blockchain capabilities.
SpaceChain paves the way for high-speed processing
SpaceChain has launched its second Ethereum Virtual Machine (EVM) payload into space. The SpaceX Falcon 9 rocket secured the launch for installation on the International Space Station (ISS). The installation was via a SpaceX Dragon 2 spacecraft. The mission, which was a success, marks the seventh successful launch of the blockchain payload into space. This is also the second integration of its payload with the open source Velas platform.
The space node will still need to be installed and tested via Nanoracks. After which, the space node will be able to process the Velas blockchain on the ISS. This means the ability to send Velas digital assets (tokens, NFTs) from space as explained by the SpaceChain team. Above all, this operation paves the way for high-speed transactions (deployment of smart contracts, mint of NFT) on the Velas platform. SpaceChain posted the news on its page LinkedIn.
Security, immutability… and now speed
When it was founded in 2017, SpaceChain was primarily driven by security. According to Zee Zheng, co-founder and CEO of the company, the current earth-hosted blockchain servers are too risky. In addition, security protocols still have flaws, which explains the boom in crypto hacking. By removing transactions from the traditional internet where the majority of security breaches occur, SpaceChain solves this problem.
Since then, payload launches have followed one another. SpaceChain has already launched various crypto-related payloads, including a crypto wallet. The various operations allowed, among other things, the support of the Otum blockchain and then of Ethereum. Space nodes have enabled SpaceChain customers to enhance their blockchain capabilities for FinTech and business applications.
Running blockchains in space provides increased security and immutability for DApps and digital asset transactions. With this latest mission, SpaceChain brings high speed to these transactions.
Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of daily and weekly so you don’t miss any of the essential Tremplin.io!
