Big players are adoption blockchain technology for space exploration by sending satellites that will provide the technology to every person on the planet without the need for an internet connection. However, space is not limited to the government sector anymore and as such more and more startups are also looking at the opportunity of entering into the galactic space with their innovation.
In collaboration with Vector Space Systems ( Vector ), Nexus provides global access to its digital and stand-alone Internet infrastructure through the Galactic Sky platform defined in a Low – Earth ( LEO ) satellite network. Nexus will launch the blockchain in orbit and bring the dream of a total decentralization closer to reality. Satellites will act as Nexus blockchain nodes, which will form part of the smart contract platform.
Nexus aims to provide autonomous Internet infrastructure through a network of Low – Earth-orbiting satellites.
Also, 20 percent of the block awards are allocated for marketing, as well as for the production and launch of Nexus satellite networks. Nexus builds a new type of blockchain with three separate network security mechanisms.
Also, the team sends space satellites to the hub to create a decentralized Internet and network outside the control of a single unit.
As an innovative leader in the nanosatellite industry, Vector Space Systems have been designed to develop affordable launch capabilities and orbiting platforms.
Larger companies such as SpaceX are focusing on the launch of medium-sized satellites into geosynchronous orbit ( GEO ), but Vector delivers affordable take-offs through the engineering of smaller reusable rocket launches.
Phillip Swazey, who has collaborated with Iridium, a satellite communications company with 72 geolo satellites, is currently designing a 1u preliminary satellite for Phase 1 deployment.
SpaceChain startup is building the one of a kind open-source satellite network which will run on the blockchain nodes. Zheng Zuo, the CEO of the company says that he truly understands the price of decentralization.
Blockstream startup started to analyze the concept of blockchain satellites back in 2017 announcing the Blockstream Satellite project. The company aims to provide blockchain without internet connection to each and every person in the world. The company even performed its 1st transaction back then. The adoption has been rising since then.
There, falling prices for communications and satellite monitoring on the ground, along with blockchain security, will ensure that everything from broadband communication to crop monitoring will be available not only for technical elites but also for the most remote farm, village or machine.
The “smart contracts” with the blockchain can also allow satellites and systems that need their services to negotiate independently and complete transactions from predetermined criteria, such as the price that a customer is willing to pay for a particular image and how quickly they need it.
On January 26, 2019, Twitter users at mid squeeze announced that they had created a messaging service to send text files to Lightning networks via their Blockstream Satellite Client.
Also, cloud storage platforms based on blockchains can also compete with Lightning Network text sharing services.
Bitcoin has been developed in line with the Theory of Nakamoto’s decentralization, in which the use of decentralized cryptocurrencies should be used to eliminate the need for intermediaries or centralized third parties.