Qtum And Space Chain Collaborate To Launch First Blockchain Satellite

Qtum and Space chain collaborate to launch first blockchain satellite
Qtum and Space chain collaborate to launch first blockchain satellite

Qtum And Space Chain Collaborate To Launch First Blockchain Satellite

The Qtum blockchain team and SpaceChain collaboration have brought the first ever blockchain satellite in space through a standardized CubeSat. The satellite would be carrying the software technology of Qtum blockchain and provide its users with unique benefits.

The First ever Blockchain node in Space!

Qtum in partnership with SpaceChain, has launched a satellite into space. A blockchain project, Qtum is focused on Decentralized Applications (DApps) that announced its plans to launch the “first ever space-based blockchain node” on Twitter on February 2.

Singapore-based SpaceChain is a crowdfunded space agency that is actively building an open source satellite network. The satellite was carried by the rocket CZ-2D at around 3:51 local time Jiuquan Satellite Launch Centre, that is located in the Gobi desert, China. The satellite is equipped with a Raspberry Pi hardware development board that basically runs a full-node program on Qtum blockchain. This will provide unique advantages to the users of Qtum blockchain.

Talking about the satellite, Zheng Zuo, the CEO of SpaceChain shared his excitement:

“The launch is a momentous step forward towards creating an open-source problem-solving model that optimizes collective intelligence. We aim to revolutionize the space industry by enabling better utilization of space, accelerating discovery and enhancing access to new technologies across the industry.”

Launching Updates for space chain blockchain satellite

The team announced the mission updates as follows:

On February 3, at 00:52, the ground station received a telemetry signal and at 02:24, a successful command-control was confirmed as the satellite received a reply. Moreover, the antenna with working battery and the solar panel was successfully deployed.

The team announced that the altitude of the satellite was stable as on February 4. This was followed by the testing update of satellite system and platform being normal and complete on February 6.

As on February 8, with the satellite passing the ground, test command was uploaded and blockchain payload started workings. A random number seed was returned by the blockchain payload that was calculated by random parameters, on the basis of which a smart contract was successfully executed. And from this day, the first space blockchain node started working normally.

What does it mean for Qtum price and investors?

On the launch, SpaceChian tweeted a video with the words

“SpaceChain satellite and running Qtum full node.”

According to Tim Draper, an investor and advisor in SpaceChain:

“SpaceChain’s foray into space will successfully create a decentralized environment that facilitates advances and collaborations at a fraction of the cost typically associated with the industry.”

This Qtum’s satellite-enabled blockchain technology will allow the Qtum wallet holders to mine Qtum tokens on their smartphones. Though Qtum blockchain is already more stable as it is based on two major platforms, bitcoin and ethereum, the secure consensus will further improve the stability and cybersecurity.

Partnering with SpaceChain, the qtum’s satellite enabled blockchain based data storage in outer space will further help in eliminating the problems with government regulation.

What are your views on blockchain satellites going in space and Qtum’s partnership with SpaceChain? Will it affect Qtum price?  Let us know below!

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Casper Brown 167 Articles

I am an associate content producer for the news section of Coingape. I have previously worked as a freelancer for numerous sites and have covered a dynamic range of topics from sports, finance to economics and politics.

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