SpaceChain Paves the Way for High-speed Blockchain Processing in Space with Seventh Payload Launch – Blog 9

The reason I found this article interesting is I blogged about the elections in Iceland using blockchain technology for on-line voting.  In that article,  the thing to keep in mind is cryptocurrency blockchain technologies suffered breaches and using similar technology is in the speculative stages.  In this trial in Greenland, the project aims to verify the protocols used to verify the votes are inaccessible to outsiders and they are secure.

Founded in late 2017, SpaceChain established the first satellite platform to provide secure custody, transact digital assets, deploy smart contracts, and facilitate Decentralized Finance Infrastructure (“DFI”) on space nodes. SpaceChain aims to bring advanced security and global access, integrating software defined payloads to progress blockchain applications in orbit. SpaceChain currently has a network of nodes operating on satellites and aboard the International Space Station (ISS). SpaceChain has demonstrated commercial and deployment success for delivering space missions and is now ready to capture high growth and high value.

On the most recent SpaceX launch from Cape Canaveral SFS on 26 Nov 2022,  SpaceChain today announced it has successfully launched its second Ethereum Virtual Machine (EVM) payload into space aboard a SpaceX Falcon 9 rocket, which is on its way to the International Space Station (ISS) for installation via the SpaceX Dragon 2 spacecraft. The mission marks SpaceChain’s seventh successful blockchain payload launch into space, and the second integration of its payload with Velas, the world’s fastest EVM blockchain and open-source platform for decentralized applications.

The space node will be capable of processing Velas blockchain on the ISS and sending Velas digital assets from space, such as VLX, tokens and NFTs, in addition to performing complete high-speed transaction services across the Velas platform, including smart contract deployment and coin minting.

Velas is the fastest EVM blockchain that is capable of handling 50,000+ transactions per seconds (TPS) with an innovative hybrid consensus of Delegated Proof-of-Stake (DPoS) and Proof-of-History (PoH).

Again, the reason this article peaked my interest was it relates to a most recent article (interested to see where this technology leads in the future) and I saw the launch that day (happened to be at the beach).

SpaceChain Paves the Way for High-speed Blockchain Processing in Space with Seventh Payload Launch (