The startup blockchain Spacechain sent a crypto-wallet in space. The material went aboard a SpaceX Falcon 9 rocket.
Last week, SpaceChain, a blockchain company that builds a satellite network to enhance cryptocurrency security, sent a Bitcoin wallet to the International Space Station.
First active Bitcoin node on the ISS
SpaceChain is developing a blockchain network designed to bring more security to smart contracts and cryptocurrency transfers through the use of satellites and a multi-signature system. Instead of using a single private key, the solution uses a cryptographic 3-signature system, in which at least two of them, including one managed by satellite, are required to validate an operation.
While the young shoot has already put into orbit 2 Bitcoin nodes in the last two years, the implementation of this portfolio is, according to her, "the first demonstration of blockchain material on the ISS."
Starting Thursday aboard a Space X Falcon 9 refueling rocket, the wallet will be installed on the station's Nanoracks commercial platform. The hardware is above all jurisdictions and is no longer within the scope of potential piracy, says Spacechain CEO Zee Zheng.
"The integration of space technologies and blockchains opens up new opportunities and opportunities," he adds in a statement.
Founded in 2017 in Singapore by Bitcoin developer Jeff Garzik, SpaceChain recently announced that it has received financial support from the European Space Agency (ESA).