June 2021, SpaceChain sent a blockchain PayLoad into space aboard a SpaceX Falcon 9 rocket.
In a Space-as-a-Service project, the member of the Enterprise Ethereum Alliance, SpaceChain, has integrated Ethereum (ETH) technology into space while simultaneously introducing Ethereum’s multi-signature transaction services in orbit. Nanoracks and Nexus are part of the initiative, the former having signed a Space Act agreement with NASA and the latter being the first to use this service.
This time SpaceChain sent the fourth blockchain payload into space. This time, however, the company is starting the first integration of Ethereum technology into the company’s hardware on the International Space Station.
The announcement states: “The security and seclusion of the space infrastructures guarantee the independence of the Ethereum contract operation from centralized terrestrial servers and thus enable more efficient smart contract operation and more extensive application possibilities. Zee Zheng, Co-Founder and CEO of SpaceChain, commented on the development:
“With Ethereum’s smart contract platform, which works in space, we can equip blockchain applications and transactions with increased security and immutability.”
Not only the Ethereum blockchain should be used in space. Some other blockchain-focused projects are also experimenting with getting their products into space. The decentralized finance synthetic derivative Opium Finance Protocol team recently announced that their decentralized insurance contract will work with UMA’s Oracle solution to bring real-world data to the blockchain.
The derivatives act as binary options contracts that allow users to take out insurance against a failed launch with SpaceX. With the SmallSat Rideshare program, companies can bring lighter and smaller payloads to market for as little as $ 1 million.
This month, the IoT company WISeKey is also launching the first part of a non-fungible token ecosystem on board a SpaceX Falcon 9 rocket. A WISeKey device is attached to the outside of the deployer and exposed to space for several weeks. During this time in low earth orbit, a first demonstration of the space-based WISeSat ecosystem WISeKey takes place.
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