Celestial

Aptos

Mars

Spacecoin XYZ — a crypto satellite startup — proposed a new method for launching an extra-terrestrial blockchain network that could enable a future “space economy” and outlast humanity in the event of an apocalypse.
In its Nov. 1 <a data-ct-non-breakable="null" href="https://github.com/spacecoinxyz/research/blob/main/publications/Blue-Paper-Spacecoinxyz.pdf" rel="null" target="null" text="null" title="null">Blue Paper</a>, Spacecoin outlines a way to launch a decentralized physical infrastructure network (DePIN) using a fleet of nanosatellites in space — something that its co-founder Daniel Bar told Cointelegraph will lay the groundwork for a “native space economy” of the future.&nbsp;
<figure>
 <img alt="Technology, Space, zk-Rollup, DePIN" src="https://s3.cointelegraph.com/uploads/2024-11/0192e632-002b-776d-9e50-d5fac5c8ae36" title="">
 <figcaption style="text-align: center;">
 Spacecoin proposes launching a decentralized blockchain network in outer space. Source: Spacecoin XYZ&nbsp;
 </figcaption>
</figure>
Bar envisions a future where satellites and soon-to-be space-faring humans can utilize a blockchain network as an interstellar marketplace and application layer.
He said it is crucial for humans to preserve the integrity of blockchain technology — and the privacy and security that come with it — in a way that it isn’t limited to a single planet.&nbsp;
<blockquote>
 “In the undesirable case that we have some kind of nuclear conflict or armageddon scenario, it's important to safeguard the future of blockchains — or more generally free market capitalism — as a layer that can potentially outlast any state actors that try to attack it.”
</blockquote>
While it may seem like a lofty goal, a space economy needs to be planned for and built now, said Bar — noting SpaceX CEO Elon Musk’s recently espoused goal of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/elon-musk-first-starships-mars-launch-2-years" rel="null" target="null" text="null" title="null">sending humans to Mars</a> in the next two years. Bar added: 
<blockquote>
 “We’re laying the foundations for what we believe will become, the expansion of the free market economy into much further beyond the bounds of planet Earth.”
</blockquote>
So far, Spacecoin has launched three satellites for initial testing with their infrastructure partner, Aptos Orbital.&nbsp;
<h2 id="why-launch-depin-in-outer-space">Why launch DePIN in outer space?&nbsp;</h2>
Outside of introducing an armageddon-proof space economy, there are several pressing reasons why building a blockchain network in space is crucial right now, Spacecoin adviser Dahlia Malkhi told Cointelegraph.
Malkhi — a professor of computer science at the University of California Santa Barbara — outlined a suite of potential key use cases, including a commerce marketplace for “celestial services,” a secure co-processor for secret computation and a hyper-secure data custodian.
<figure>
 <img alt="Spacecoin XYZ unveils plans for first blockchain network in outer space" src="https://s3.cointelegraph.com/uploads/2024-11/0192e61b-cc74-7279-81a2-bffa858dc2a0" title="">
 <figcaption style="text-align: center;">
 Potential use cases for Spacecoin XYZ. Source: Spacecoin.xyz
 </figcaption>
</figure>
Right now, the primary goal of Spacecoin is to build itself out as a space data center, offering levels of security that simply aren’t possible here on Earth.&nbsp;
“You can think of it as a trusted hardware platform, which is really leakproof once you deploy it safely and securely. Nobody can tamper with the hardware on a satellite, not even us,” said Malkhi. “We can bring down the satellite and crash it on Earth, but we cannot tamper with the hardware.”
<blockquote>
 “This addresses many of the security vulnerabilities here on Earth that even trusted hardware platforms like Intel SGX and other companies don’t have an answer for.”
</blockquote>
Speaking of additional use cases, Malkhi added that Earth’s orbit was already getting “very busy” — noting a rapid increase in satellite-based services such as Musk’s StarLink, imaging and communication providers.&nbsp;
“All of these services will benefit from having a platform that operates a marketplace so that they don’t have to communicate with Earth every time they need to run payments, micropayments, any kind of trade, any kind of enforceable agreements or contracts among them,” Malkhi said. 
<blockquote>
 “To do this properly, you need a decentralized infrastructure that nobody controls.”
</blockquote>
<h2 id="how-does-spacecoin-work">How does Spacecoin work?</h2>
Malkhi said that Spacecoin is advocating a novel, two-tier design built with a layer-1 network deployed in outer space and accompanying layer-2 state chains based on Earth.&nbsp;
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/decentralized-network-uplink-40k-routers-cut-internet-cost-50" rel="null" target="null" text="null" title="null">Decentralized network Uplink tops 40K routers, targets lower internet costs</a>
The off-world layer-1 is called the “Celestial Chain,” while the terrestrial layer-2 is called the “Uncelestial” network.
<figure>
 <img alt="Spacecoin XYZ unveils plans for first blockchain network in outer space" src="https://s3.cointelegraph.com/uploads/2024-11/0192e61a-7474-7ec0-bf04-5d68fb6aa3dc" title="">
 <figcaption style="text-align: center;">
 Spacecoin posits a two-tiered design, with the deployed L1 in outer space. Source: Spacecoin.xyz
 </figcaption>
</figure>
“The Celestial Chain is the outermost authority. In the end, that’s the one that records an immutable history that may outlast our lives here on Earth at some point,” Malkhi said. 
“We anticipate and prepare for the case where occasionally satellites are in the dark and it takes a few seconds up to a few minutes initially to reach them. And so we’re building the Uncelestial layer here on Earth that hinges on the authority and the finality of L1 on Spacecoin,” she added.
But unlike current scaling solutions in the crypto ecosystem — rollups, domestic rollups, ZK-rollups — Malkhi said the team wants the Earth-based layer-2 to provide hard finality with fast latency.
Disclaimer: Spacecoin XYZ is not to be confused with an unaffiliated project called Spacecoin.org.
AI Eye: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/a-bizarre-cult-is-growing-around-ai-created-memecoin-religions-ai-eye/" rel="null" target="null" text="null" title="null">A bizarre cult is growing around AI-created memecoin ‘religions’</a>

Spacecoin XYZ unveils plans for first blockchain network in outer space

Table of Contents

Cointelegraph

Other articles published on Nov 1, 2024

How Polkadot is transforming blockchain technology: Report

Ethereum Value Vs BlockDAG’s Speed: Will BDAG’s Speed Beat ETH’s 11-Year Legacy?

Mey Network: Revolutionizing Real-World Asset Investments Through Blockchain Technology

Nigerian Government Drops Charges Against Binance Executive Tigran Gambaryan

XRP News: XRPL Unveils Major Shift with Decentralized ID Launch

Whale panics amid Bitcoin dip, sells 2,019 BTC

Join our free newsletter for daily crypto updates!