Originally published on: November 01, 2024
Spacecoin XYZ, a groundbreaking crypto satellite startup, has unveiled plans for the world’s first blockchain network in outer space. This innovative project aims to establish a decentralized physical infrastructure network (DePIN) using a fleet of nanosatellites orbiting the Earth. According to Spacecoin’s co-founder, Daniel Bar, this visionary initiative will pave the way for a “native space economy” that could potentially outlast humanity in the face of an apocalyptic event.
In a recent Blue Paper released by Spacecoin, the company outlined its ambitious proposal to launch a decentralized blockchain network in outer space. Bar envisions a future where satellites and space-faring humans can leverage this network as an interstellar marketplace and application layer. With the goal of preserving the integrity, privacy, and security of blockchain technology beyond the confines of Earth, Spacecoin aims to revolutionize the way we interact with technology in space.
The Spacecoin project has already achieved significant milestones, having launched three satellites for initial testing in collaboration with their infrastructure partner, Aptos Orbital. Apart from creating a resilient space economy, the team behind Spacecoin believes that building a blockchain network in space is essential for several reasons. According to Dahlia Malkhi, a computer science professor at the University of California Santa Barbara and advisor to Spacecoin, potential use cases include a commerce marketplace for “celestial services,” a secure co-processor for secret computation, and a hyper-secure data custodian.
As Earth’s orbit becomes increasingly congested with satellite-based services, the need for a secure platform like Spacecoin is more pressing than ever. Spacecoin offers a trusted hardware platform that is tamper-proof, guaranteeing the security of sensitive data and transactions in space. By deploying a two-tier design with a layer-1 network in outer space (Celestial Chain) and a layer-2 network on Earth (Uncelestial), Spacecoin aims to provide hard finality with fast latency for seamless operations in space.
While Spacecoin XYZ is not affiliated with the unconnected project Spacecoin.org, its groundbreaking approach to building a blockchain network in outer space has garnered significant attention in the crypto community. With the potential to transform the future of space-based technologies and create new opportunities for interstellar commerce, Spacecoin XYZ is paving the way for a bold new era of decentralized innovation beyond our planet’s confines.
