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Blockchain tech heads to space

space

3. 2. 1. Houston we have lift off!

There are 4,986 satellites in orbit today according to the Online Index of Objects Launched into Outer Space provided by the United Nations Office for Outer Space Affairs (NOOSA). Add on space junk, and the 3,391 satellites not in orbit, that is a lot of aerial action.

So how can it all be managed?

NASA Weighs In On Blockchain Tech

The National Aeronautics and Space Administration (NASA) granted $333,000 to Professor Jin Wei at the University of Akron in September 2017 to research how to make more autonomous and smarter space hardware, according to Digital Journal. Realizing now that blockchain technology may just be the answer.

NASA is looking into the Ethereum blockchain as an air traffic management solution. Security is a very important feature as it will keep classified information safe, only available to the person(s) directly involved resulting in less cyber attacks According to Ronald Reisman a NASA researcher. Monday Reisman published an outline using smart contracts, and the blockchain network for security issues. Concentrating on private and public data being compromised ending up in the hands of unauthorized personnel.

“The design innovation is the use of an open source permissioned blockchain framework to enable aircraft privacy and anonymity while providing a secure and efficient method for communication with Air Traffic Services, Operations Support, or other authorized entities,” Reisman said. According to The Coin Shark.

It is still unclear if NASA will follow the researchers’ recommendation. Also, NASA isn’t the only organization taking this new tech revelation into the final frontier.

Fundraising for Space Endeavours

Spacebit Capital is a company out of several that intends to use blockchain for space endeavors. The founder’s, Pavlo Tanasyuk, vision is to bring space available to the masses. The funds will be tokenized from investments. Spacebit looks to fund start-up companies in the infancy stages. Ranging in everything from Lunar Robotic Exploration to AI Assisted Moon Mining just to name a couple. Spacebit will also fund more mature companies focusing on a variety of topics including Earth and Lunar Science. Tanasyuk says:

“We hope to stimulate innovation and space commercialization, allowing people from all over the world to participate in and take benefit from the exploration and commercialization of space through the formation of a new tokenized space economy.”

Nanosatellites

Vector is yet another company looking to revolutionize space by launching nanosatellites into orbit. Vector claims it is, “A disruptive innovator that connects space startups with affordable and reliable space access.”

In a press release, Vector stated it will be launching a nanosatellite into orbit for Hiber sometime this year. Say goodbye to fiber optics! Hiber founded in 2016 claims they can connect anything, on the Internet of Things to a satellite anywhere globally.  Vector offers a small satellite launch named Vector-R 60kg and Vector-H 290kg obviously larger, to put into orbit.

Robert R. Cleave, Chief Revenue Officer at Vector says that they “are honored to be selected to launch this important mission.”

Spacechain Nodes

Another mention is SpaceChain, a platform which is community-based and blockchain driven. A few days ago SpaceChain published a press release confirming the second node launched in October of 2018 is working properly transmitting all data and responding to ground control.

SpaceChain is focusing now on putting nodes in space by way of the blockchain, creating a more secure network then what is in play now. In doing this, it will stop governments of being able to shut it down because they are in disagreement with the operation. Also, these satellites made nodes will be able to send and receive information in dead zones such as forests and oceans.

SpaceChain co-founder and chief technology officer Jeff Garzik explained, “SpaceChain deployed and tested the space-based multi-signature transaction which opens up brand new possibilities in space security models,”

Nexus Internet

Last but not least, Nexus is a company that is using the blockchain in space – working towards a decentralized distributed internet through satellites and ground networks. Nexus is unique because of the extra layers of security it provides compared to the Bitcoin blockchain.

The architecture of their blockchain is known as Multi-Dimensional Chaining. This means that there are three consensuses and three core dimensions, adding time to confirm the blocks. By doing this Nexus can prevent cyber attacks from quantum computers. Nexus also partners with SpaceChain and Vector mentioned earlier.

Looking ahead

As time passes, business and companies alike all over the world, are beginning to wake up to the new technology. Realizing how much more security is on a blockchain. It is incomparable to the security in centralized locations. People are learning that the possibilities on blockchain is endless, allowing users to add to it forever if needed.

As humanity moves forward blockchain leads the way, even in outer space.

Written by

I am a female cryptocurrency and blockchain development contributor, and enthusiast. I have also earned her IT degree with a concentration in Database Management in 2012 from UOP and is putting it to use in this ever-evolving technological environment. In her spare time, Toni loves to trade and invest in cryptocurrencies and/or assets as one of her favorite hobbies.

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