A coffee cup-sized crypto satellite has arrived in low Earth orbit, bringing blockchain-related encryption to space.
As part of SpaceX’s Transport 5 mission, a Falcon 9 rocket carrying Cryptosat’s Crypto1 crypto satellite module was launched from Space Florida yesterday, marking the first launch of blockchain technology into orbit.
We are on a journey to construct satellite systems that power cryptography, blockchain and ledger technologies. According to the business, “we think that satellites offer unique qualities that make them ideally suited for these activities. By launching these platforms into space, we may unleash the new and exciting potential in computing.”
As Yonatan Winetraub, the co-founder of Cryptosat, put it: “We’re simply joining the Uber of spaceflight. Each person enters the same orbit, and we are one of the travellers aboard.
Cryptographic services will be provided by Satellite
Satellites from SpaceX have been launched, each of which performs a unique function.” In our case, it doesn’t really matter. This satellite will be used to deliver cryptographic services for consumers on Earth, which will not interfere with any other satellites.”
According to Yan Michalevsky, CEO of Cryptosat, “Working with a space asset is not the same as working here on Earth.” You merely open a terminal and troubleshoot it if anything goes wrong on the ground.” As far as I’m aware, it isn’t always an option in space.”
He claimed that a cryptography system “not reliant on other satellites by other firms” would be launched with the launch, making it the first of its kind. Eventually, the business plans to implement zero-knowledge-proof protocols.
DAO voting techniques often employ zero-knowledge proof, a sophisticated cryptographic technique for safely verifying transaction data.
“There’s a lot of demand for this,” Michalevsky said. Web3 protocols, in particular, include whole financial systems and “smart contracts” that rely on the integrity of the encryption used.
Additionally, Michalevsky indicated that radiofrequency transmission would be used to keep the equipment out of the hands of Earth-based attackers.
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