Singapore-based startup SpaceChain launched the first of two missions into space to deploy a decentralized satellite blockchain infrastructure for corporate users, including Nexus Inc., cryptocurrency exchange Biteeu, and the Divine community.
The first launch took place on June 3. The SpaceX Falcon 9 launch vehicle delivered equipment to the International Space Station, on which the Ethereum node will be launched. Nexus Inc. will manage the node to develop the enterprise blockchain capability and carry out highly secure transactions with multiple Ethereum signatures.
The second launch, which will also be carried out by the Falcon 9 launch vehicle, is scheduled for June 24. The YAM-2 microsatellite will be launched into orbit with space nodes created for Nexus Inc., the Biteeu cryptocurrency exchange, and the Divine public project.
Placing equipment for Ethereum and Bitcoin in space will increase their level of security, ensuring higher reliability of the access to the network using a satellite communication channel through the Blockstream system, which provides access to a Bitcoin wallet without a traditional Internet connection from Latin America and Europe.