30s Summary
Spacecoin XYZ has successfully launched its first satellite as part of a SpaceX Falcon Heavy mission. This marks the beginning of Spacecoin’s project to build a network of satellites to enhance blockchain system security. The satellite contains two crypto engines and is powered by solar panels. The company aims to launch up to 10 more satellites by 2025 to initiate its mainnet. With the objective of creating a marketplace for celestial services, Spacecoin plans to establish a space data center for unparalleled security. It envisions a decentralized physical infrastructure using numerous nanosatellites, including a space-based layer-1 network and Earth-based layer-2 state chains.
Full Article
Spacecoin XYZ has just sent its first satellite up into space. This is a big step forward for Spacecoin’s plan to have a network of satellites that make blockchain systems more secure by running them from space.
Spacecoin XYZ’s co-founder, Daniel Bar, meant that launching their first standardized satellite is a massive achievement. The satellite became a space traveler as part of a SpaceX Falcon Heavy mission, taking off at 3:34 am in California on Dec. 21.
Daniel Bar gave us the scoop that this first satellite launch is the start of many more to come. Spacecoin aims to have a “constellation” of 7 to 10 more satellites up by 2025. This would be enough to start up their mainnet online.
The Spacecoin satellite has two “crypto engines,” tiny devices about the size of a desktop hard drive. There’s also another data part that’s about the size of a Macbook. The satellite is powered by solar panels in Earth’s orbit.
Dahlia Malkhi, who advises Spacecoin and is a professor at the University of California Santa Barbara, says Spacecoin has big plans. From backing up blockchain networks extra-terrestrially to creating a marketplace for “celestial services,” the ambitions are high. They plan to become a space data center that offers security you can’t get here on Earth because nobody can mess with satellite hardware.
Spacecoin’s Blue Paper, launched on Nov. 1, describes how they want to make a decentralized physical infrastructure network using lots of nanosatellites in outer space.
Spacecoin’s design includes a layer-1 network in space and layer-2 state chains on Earth. They call the off-world layer-1 “the Celestial Chain,” while the Earthly layer-2 is “the Uncelestial” network.
According to Malkhi, the Celestial Chain is top-dog. It creates a record of transactions that can’t be changed. This record could outlive us all here on Earth.