A China Long March 4B rocket was launched from Taiyuan Satellite Launch Center in October 2018. One of the payloads is a nanosatellite equipped with a spacechain blockchain node. (CCTV via scinews / YouTube)
It has been three months since consensys blockchain studio acquired planetary resources, an asteroid mining company based in Redmond, Washington. Although the joint venture, currently known as consensys space, has not completed its business plan, another space for venture capital centered on blockchain may provide some clues.
Spacechain, based in Singapore, has been increasing its activities over the past year, especially launching two nanosatellite based blockchain nodes into orbit on China’s Long March rockets in February and October 2018.
Last month, spacechain said it had successfully tested the space to ground blockchain transactions, especially completed the signature verification program that can be used in theory for contracts.
“The multi signature cold wallet Service – an application developed by spacechain engineers to test space nodes – proves that the technology is a potential network security solution for the blockchain industry,” said Jeff garzik, co-founder and chief technology officer of spacechain.
Today, spacechain and the arch Mission Foundation report that one of the digital payloads stored on the October launch satellite is arch’s orbital library, which contains a complete copy of Wikipedia.
“The orbital library on the spacechain satellite is the starting point for backup data that rotates around the earth, the first alien archive, and the first step to build more arch libraries that retain human knowledge and culture,” nova spivack, co-founder of the archway foundation for education, said in a press release. “By replicating on a large scale around the solar system, we will be able to ensure that the arch library will never be lost – even in the millions to billions of years to come.”
The foundation also plans to deliver the lunar library project in phases for archiving on the surface of the moon. The first part will be placed on spaceil’s lunar lander, and the second part will fly to the moon as early as next year on the astrobotic Peregrine lander.
As the archive expands, you can add it to the track library.
Zee Zheng, co-founder and CEO of spacechain, said: “We support the archmission Foundation’s goal of preserving knowledge for future generations and are pleased to be able to achieve this mission through our satellite technology.” “With lower launch costs, we are able to achieve important missions such as bows and arrows and unprecedented opportunities in space.”
The most famous blockchain applications must be related to cryptocurrencies, but the technology can also be used for non monetary applications, such as verifying the supply chain of a given product, or ensuring that documents or databases are not secretly tampered with. Use.
In a series of responses to e-mail questions, Zee Zheng, chief executive of spacechain, explained why space-based operations benefit the blockchain. This is a question and answer session. I’m sorry for Zheng’s weird use of blockchain technology
GeekWireThis is going to be a way of doing security deals in space, right? For example, one can store cryptocurrency in a constellation of satellites, rather than relying on a potentially stolen ground, Internet connection network (as we have seen in past cryptocurrency scandals)?
Zee Zheng“Yes, by using nodes in space, we eliminate a high degree of security on physical attack media and supply chain attack media (considering how many tests and reviews are required to place the device in space), and our hardware and software do not interact with the Internet. Instead, it only interacts with our satellite payloads, eliminating important hacking media, and using a 2 / 3 multi signature transaction structure, users have complete control over their funds. “
“That’s how multi signature transactions work. After selecting the spacechain spatial multi signature service, the user will obtain the public key of the wallet address of the spatial node. Users can use their own wallet address, spare contact wallet address and space node wallet address to generate 2 / 3 multi signature wallet address on the client.
“The function of the alternate contact wallet address is that if there is a problem connecting with the space node, the user can enable the private key of the alternate contact wallet address to retrieve the encrypted currency in the multi signature wallet address. When the user wants to initiate a transaction, the client first transfers the encrypted currency to the multi signature wallet address. After the user signs the confirmation with his private key, the signed transaction will be sent and received from the space node, and then broadcast to the qtum blockchain. “
GeekWire: I know that qtum (pronounced “quantum”) is a blockchain system that can be used to encrypt currencies or other blockchain protected applications If you can provide some examples of potential applications That would be a great help. In addition, it is better to answer the question why space is used instead of the ground-based blockchain system.
Zee Zheng“We’re envisioning applications such as super secure encrypted messaging, space-based distributed data centers. Of course, we will be able to facilitate blockchain transactions that are not available in rural areas, marine and land networks. “
GeekWireI think there is a connection between qtum and spacechain, just like there is a connection between Ethereum and consensysspace?
Zheng Jie: “qtum is one of our partners and early supporters, and we plan to take full advantage of their smart contract capabilities. But we are also integrating Ethereum and other public chains. Therefore, we are not the exclusive owner of qtum. As long as we meet our vision, we will be open to all open source technologies.
“We have had some interaction with the consensys team and are excited that more and more people are committed to blockchain + space. We are looking forward to hearing their updates. “
In terms of its value, spacechain and consensys are not the only companies engaged in blockchain + space development. A report released today by the Asian Times details several other blockchain related space companies, including blockstream in Canada, supreme Global Holdings in Sri Lanka and Malta, space impulse in Estonia and xyonetwork in San Diego. Xyo plans to launch its etherx satellite into orbit on the SpaceX Falcon 9 rocket, possibly in the second half of this year.
Baseline? When consensys space launches its blockchain strategy, it will take a big step towards the already busy frontier.
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