Say goodbye to space hacks! – Is the future of blockchain and cryptocurrencies in space? SpaceX had already put Bitcoin (BTC) and Ethereum (ETH) in orbit. This crypto satellite now aims to offer blockchain projects a technological alternative with specific advantages and challenges.
A high-flying platform for blockchain applications
Cryptosat sent the satellite into space Crypto1 which is the size of a coffee cup. Crypto1 boarded Space X’s Falcon 9 rocket on May 25, 2022.
Cryptosat builds satellites that provide a platform for launch of blockchain and ledger applications – in the sense of a ledger.
But what is the point of using such an in-orbit technological solution for the crypto industry? Communication with Crypto1 is via radio frequency.
He is not only hard for the hackers to attack such a system, but “Anyone with an antenna will know if you do something weird”according to the co-founder of Cryptosat, Yonatan Winetraub.
This solution would therefore be more secure than its ground-based alternatives which are much more exposed to pirate attacks.
In addition, Yonatan Winetraub mentioned the establishment of protocols for zero-knowledge proof as one of Crypto1’s most interesting applications.
Zero-knowledge proof allows, for example, members of a decentralized autonomous organization to vote, without having to publicly expose their vote.
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Bug in orbit: a crypto satellite breaking with terrestrial habits
However, the use of a space module to launch a decentralized application is subject to certain friction points.
Downloading data takes much more time. Yonatan Winetraub admitted that “Internet communication is not something trivial to do in space”.
Cryptosat must also meet challenges specific relating to the bug fixing affecting the functioning of Crypto1.
Yonatan Winetraub recalled that“on the ground, if something goes wrong, just open a terminal and debug it”. The process is of course more complex for a satellite in orbit:
“He circles the earth. We start debugging. We find the problem. Now we have to wait 1:30 until he comes back. »
Cryptocurrencies are conquering space thanks to SpaceX. Same Dogecoin (DOGE) rubs shoulders with the stars in its own way.
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