Singapore’s “decentralized space agency” SpaceChain, which is building “the world’s first open blockchain satellite network for developing and launching decentralized applications in space”, announced that it has successfully deployed a Qtum blockchain node in orbit.
“This is the first fully functional Qtum node in space that is capable of performing multi-signature transactions and running smart contracts,” he writes in on your Twitter.
SpaceChain Project Launches Qtum Node in Space
The launch of the first satellite (aka “second generation blockchain node”) of the SpaceChain project took place on October 25 Of 2018 from a space center in China. The movements of the node in the Earth’s orbit can be monitored on the SpaceChain website.
SpaceChain is also developing its own blockchain-based operating system that will allow anyone to “rent” space on a satellite to fulfill their operational needs “at a fraction of what people have to pay when working with traditional models.” It is assumed that such a functioning model may be of interest cryptocurrency exchanges, global networks of sensors for collecting and transmitting data in real time, ultra-secure data storage, messengers for encrypted message transmission, etc..
Explaining why their choice fell on Qtum, the developers write that it is “one of the best PoS platforms for working with smart contracts.” In the future, they also promise to integrate the Ethereum protocol into their operating system..
SpaceChain’s own SPC token has more than doubled over the past 24 hours, after which it has slightly decreased. The project did not conduct a public ICO and distributed the initial emission their tokens among a limited circle of investors. SPC tokens will be used for getting access to applications on the project platform.
At the end of October, Ethereum startup ConsenSys acquired the space company Planetary Resources.
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