Spacecoin XYZ Launches First Blockchain Network in Space

This network aims to build a foundation for off-world data centers and a future space economy.

The team at Spacecoin XYZ , a startup that uses satellites, believes their new method for launching a blockchain network could change how we think about commerce in space, possibly even surviving an apocalypse.

Pioneering a New Frontier for Off-World Data and Economy

In their November 1st,  “ Blue Paper ” Spacecoin outlines how they will use a fleet of small satellites, called nanosatellites, to create what they call a decentralized physical infrastructure network (DePIN).

Co-founder Daniel Bar shared that this network will lay the groundwork for a “native space economy.” He imagines a future where satellites and humans traveling to space can use this blockchain network as a marketplace for buying and selling goods and services beyond our planet.

Spacecoin Cadets, we know it’s the weekend but we’re too excited not to share monumental news.

The Early Access program has just surpassed 150k Cadets!

That’s 150k Cadets who will receive 100GB of free data when we launch in their regions 🛰️

24 hours until we close Early… pic.twitter.com/y0ql7uy2Gb

— Spacecoin 🛰️ (@_spacecoin) October 28, 2024

Bar emphasized the importance of keeping blockchain technology secure and private, ensuring it’s not limited to Earth. So far, Spacecoin has successfully launched three satellites to test their technology in partnership with Aptos Orbital .

How Does Spacecoin Work?

Spacecoin has a clever design that features two parts: a layer-1 network in space and a layer-2 network on Earth. The outer space part is called the “Celestial Chain,” while the Earth-based part is known as the “Uncelestial” network. Malkhi, another co-founder, explained, “The Celestial Chain is the outermost authority. It records a history that could outlast us here on Earth.”

Many of us take the internet for granted.

The ability to check our emails, connect with friends in an instant, work from anywhere, and post selfies or food pics for the world to see.

But not everybody is so lucky.

There’s still a massive digital divide where 2.9 billion people… pic.twitter.com/1hnCjHSve5

— Spacecoin 🛰️ (@_spacecoin) September 30, 2024

The team is also preparing for challenges, like when satellites go into the dark and can’t be reached right away. To address this, they’re developing the Uncelestial layer on Earth, which depends on the authority of the Celestial Chain.

Unlike other crypto solutions, Spacecoin wants their Earth-based layer-2 network to provide quick finality with low latency. This means that even when satellites are temporarily out of reach, transactions will still be processed quickly.

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