On behalf of the provider Spacechain, SpaceX will transport two blockchain nodes into space in June. It starts with an Ethereum node for the ISS, followed by a Bitcoin node in a satellite.
On June 3 and 24, 2021, the blockchains of the two most important crypto currencies will be expanded into space. Spacechain, a provider of decentralized infrastructure, already has quite a bit of hardware in operation on board the ISS and now wants to add an Ethereum and a Bitcoin node each. The project is a world premiere. So far, there are no blockchain nodes in space.
Blockchain technology has been experimenting with in space for years
Earlier this year, investment bank JPMorgan Chase tested blockchain payments between satellites in orbit. Basically, the test should only prove that crypto transfers between participants in the Internet of Things are possible. The satellites were ultimately chosen only because of the amount of attention such an attempt would attract.
Spacechain, on the other hand, began installing blockchain technology on the ISS as early as 2017. Among other things, the European Space Agency Esa had helped the Singapore company with funding. A hardware wallet has been running on the ISS since 2019. The US company Nanoracks provides the platform for data transfer to and from the ISS. The new nodes are also connected via it.
Securing the infrastructure against terrestrial risks
The relocation of blockchain technology into space should make the technology less susceptible to terrestrial influences. The operators want to be able to maintain the operation of the blockchains, even if the infrastructures on earth should no longer be efficient for various reasons.
The lawlessness of the universe, which is widely rumored, will remain an illusion. On the ISS, the law of the country that operates the respective module in which the installation takes place applies. If the nodes were to be installed in the US module and the US were to regulate crypto more closely, this stronger regulation would also have an impact on the blockchain infrastructure hosted on board the ISS.
The spacechain customer Nexus Inc., a digital asset manager, will take care of the later operation of the Ethereum node. He wants to use the technology to develop additional blockchain functions for corporate applications.
On June 24, 2021, a SpaceX Falcon 9 rocket will launch a Bitcoin node into space. Partly Nexus and partly the crypto exchange Biteeu also want to use it. He is said to be in a YAM-2 satellite.