In early June, the world watched with interest as SpaceX successfully launched its Falcon 9 rocket to propel the Cryptosats' second cryptographically equipped satellite into orbit. The mission marks a major step forward for the space industry and signals a new era in the use of blockchain technology.
The SpaceX rocket sent a Cryptosat satellite to orbit. Apparently, this was a first for the industry. This particular satellite was the first to utilize a publicly verified randomness beacon. It also was the world's largest tamper-proof cryptography device. In fact, it's the size of a coffee mug.
The launch was part of the company's quest for "bulletproof" cryptography. Specifically, the satellite was designed to lay the foundations for secure encryption in space. However, it's not the first time Cryptosat has tested its Drand protocol on an orbital station.
The first cryptographically-equipped satellite was the "Crypto-1," launched by SpaceX in November 2016. Designed by the U.S.-based company, it's the size of a cup of coffee, and it relays open communication between Earth and the International Space Station. During a test on the orbital station in March, Cryptosat demonstrated that its cryptogram - a publicly verifiable randomness beacon - can withstand a simulated orbital explosion.
The first ever Cryptosat satellite was launched into orbit as part of the aforementioned transporter 6 mission. In fact, a Brazilian user took to the air by way of Blockstream's satellite network to launch a Bitcoin node. It's a good thing he didn't have to fly to the moon to do it, or else he would have a hard time catching a ZZZ.
The company has since followed up with another crypto-equipped sat, a little more compact in size but not in the quality of its launch. This tamper proof crypto-satellite will be launched with the help of SpaceX's venerable Falcon 9 rocket. Not only will it prove to be an indispensable tamper proof platform, it will also allow for the launch of Web3 platforms. With the advent of AI, the need for tamper proof, crypto-infused rockets has never been greater. That's why a company like SpaceX has to stay on top of their game.
Company behind 'Crypto1'
A SpaceX rocket propells Cryptosat's second cryptographically-equipped satellite into orbit. The company says the platform will lay the groundwork for secure cryptography in space. In addition, it will serve as a tamper-proof platform for the launch of blockchains. It is built using off-the-shelf parts.
According to a press release, the satellite is designed to "lay the foundations for secure cryptography in space." In March, the company tested a Drand protocol, a publicly verifiable randomness beacon, on an orbital station. Another use case is to retrieve signed timestamps for applications like smart contracts.
The company claims that the physical unreachability of its satellite will make it invaluable as a tamper-proof launch platform. Cryptosat has already conducted tests on the International Space Station and plans to send the satellite to ISS in 2019.
Meanwhile, the Brazilian cryptocurrency user Blockstream launched a Bitcoin node in orbit. This is the first time such a device has been used on a satellite network. Similarly, private crypto firms like SpaceChain have also conducted tests on the ISS, and recently demonstrated how to conduct transactions in space.
SpaceX has launched Cryptosats second cryptographically equipped satellite into orbit. The company's Falcon 9 launch vehicle will carry the crypto satellite into orbit. This is part of the company's quest to provide bulletproof cryptography.
Cryptosats mission to send its Crypto1 crypto satellite into space is aimed at providing a tamper-proof platform for Web3 platforms and blockchain applications. The crypto satellite is built using off-the-shelf parts and is physically unreachable. Its tamper-proof capabilities make it an essential component for crypto-based operations.
Cryptosats Crypto1 crypto satellite is a small satellite that will be carried into space by SpaceX's Falcon 9. The company claims that the crypto satellite will serve as a tamper-proof platform to launch blockchains and Web3 platforms.
During the January 3 flight, Cryptosats Satellite will be positioned in the low-Earth orbit. The company has already successfully tested the technology onboard the International Space Station. According to the CEO of SpaceChain, it will be used to validate the transactions in the blockchain. Winetraub said that some of the use cases are to retrieve signed timestamps for applications like smart contracts.
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