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SpaceChain Announces the First Qtum Blockchain Transaction in Space

SpaceChain Announces the First Qtum Blockchain Transaction in Space

SpaceChain announced that it has successfully tested its second Qtum blockchain node in space. The node was launched into orbit on October 25, 2018, by a CZ-4B Y34 rocket from Taiyuan Satellite Launch Centre, Xinzhou, China.

SpaceChain is a community-based space platform and it was founded in 2017. It aims to combine space and blockchain technologies to build the world’s first open-source blockchain-based satellite network to develop and run decentralized applications in space.

The second SpaceChain node is embedded with SpaceChain OS, a smart operating system. It is capable of performing blockchain-related functions on the Qtum blockchain such as running smart contracts and multi-signature transactions. The SpaceChain operating system code is available on GitHub.

On 2nd February 2018, SpaceChain launched its first Qtum blockchain node into low earth orbit. It was based on Raspberry Pi hardware board and blockchain software. The blockchain node could run a full-node program on the Qtum blockchain and could process existing blockchain data.

The announcement noted that, since the launch of its second Qtum blockchain node on October 25, the SpaceChain team ran the number of connectivity tests to ensure the node's full operational capability. During these tests, the node's signal was detected and transaction data has been uploaded to the node to complete the signature and then downloaded via the ground station, and finally verified on the blockchain network. The transaction verification information can be found here.

SpaceChain Qtum Transaction in space
PC: Snip from https://qtum.info/tx/7dfdfa9322ac5b9b4a89da44f7db90d300c636117f456514f8c27f60d0224a54

SpaceChain co-founder and chief technology officer (CTO), Jeff Garzik, said, "This multi-signature cold wallet service – an application developed by SpaceChain engineers to test the space node – shows proof of technology of being a potential cyber security solution for the blockchain industry. SpaceChain deployed and tested the space-based multi-signature transaction which opens up brand new possibilities in space security models."

SpaceChain co-founder and chief executive officer (CTO), Zee Zheng, said, "It often takes months and years to build the system and to launch hardware into space as there is a need to secure the launch opportunity, obtain permissions, get the frequency and ensure there is ground station support. We are proud to have launched two nodes in our first year of operations, bringing us one step closer to creating a network of blockchain-based satellites in space"

To facilitate the launch, SpaceChain commissioned Tibet Zezheng Information Technology Co. Ltd. And Beijing Xihua Science and Technology Co. Ltd., a carrying and launching service provider.  The new blockchain node also has a geospatial tracking feature. It allows one to watch the node orbit the Earth in real time.

PC:pablo,pixabay

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Mandar is a seasoned software professional for more than a decade. He is Cloud, AI, IoT, Blockchain and Fintech enthusiast. He writes to benefit others from his experiences. His overall goal is to help people learn about the Cloud, AI, IoT, Blockchain and Fintech and the effects they will have economically and socially in the future.

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