As a seasoned researcher with a background in both space technology and blockchain, I find Spacecoin XYZ’s proposal for an extra-terrestrial blockchain network intriguing and thought-provoking. The idea of creating a decentralized physical infrastructure network (DePIN) using nanosatellites in outer space to enable a future “space economy” is groundbreaking, to say the least. It’s not every day you come across research that could potentially outlast humanity in the event of an apocalypse!
Spacecoin XYZ, a pioneering cryptosatellite company, is presenting a novel approach to deploying an interstellar blockchain system. This innovative technology might pave the way for a cosmic economy and potentially persist beyond human existence if a catastrophe were to occur.
In the November 1st Blue Paper, Spacecoin proposes a novel method to establish a decentralized physical infrastructure network (DePIN) by deploying a constellation of nanosatellites in space. According to Spacecoin’s co-founder Daniel Bar, this initiative is set to pave the way for the emergence of the “native space economy” of the future as envisioned by CryptoMoon.
Bar imagines a time when satellites and upcoming space travelers could leverage a blockchain system as a cosmic marketplace and platform for applications.
As a diligent analyst, I emphasize the paramount importance of upholding the sanctity of blockchain technology, ensuring its universal preservation across planets, while safeguarding the attached privacy and security aspects.
“In the undesirable case that we have some kind of nuclear conflict or armageddon scenario, it’s important to safeguard the future of blockchains — or more generally free market capitalism — as a layer that can potentially outlast any state actors that try to attack it.”
According to Bar, who mentioned Elon Musk’s recent ambition to send humans to Mars within the next two years, it appears that establishing a space economy is an ambitious target at present, but he emphasized that we should start planning and developing it immediately.
“We’re laying the foundations for what we believe will become, the expansion of the free market economy into much further beyond the bounds of planet Earth.”
To date, Spacecoin has collaborated with their partner Aptos Orbital on a trial basis by deploying three satellites as part of their initial testing phase.
Why launch DePIN in outer space?
There are many strong reasons for creating a blockchain network in space right now, according to Dahlia Malki.
As a researcher, I’ve recently been exploring a variety of promising applications based on the work of Professor Malki from the University of California Santa Barbara. These include envisioning a celestial services marketplace, developing a secure co-processor for confidential computations, and designing an ultra-secure data custodian.
Currently, my focus as a researcher lies in spearheading the development of Spacecoin, transforming it into an extraterrestrial data center. This venture aims to establish unprecedented security standards, far beyond what can be achieved on our planet.
Malki explained that the system can be considered as a highly secure and impervious hardware platform once properly deployed. It’s virtually untouchable, meaning no one, not even us, can manipulate the satellite’s hardware. While we have the ability to bring down and crash the satellite to Earth, altering its hardware remains impossible.
“This addresses many of the security vulnerabilities here on Earth that even trusted hardware platforms like Intel SGX and other companies don’t have an answer for.”
Speaking of additional use cases, Malki added that Earth’s orbit was already getting “very busy” — noting the rapid uptick in satellite-based services such as Musk’s Starlink, imaging, and communication providers.
Malki stated that by utilizing a common marketplace platform, all these services can avoid the necessity of communicating with Earth for each transaction, including payments, micro-payments, trades, and enforcing agreements or contracts among themselves.
“To do this properly, you need a decentralized infrastructure that nobody controls.”
How does Spacecoin work?
Malki outlined that Spacecoin proposes an innovative dual-layered system. This system consists of a primary layer-1 network situated in space, alongside secondary layer-2 state chains located on Earth.
In a more straightforward phrasing, you could say that the outer space layer-1 is referred to as “The Celestial Network,” while the earthbound layer-2 is known as the “Non-Celestial” or “Terrestrial” network. This paraphrase maintains the original meaning but uses simpler and more intuitive terminology for easier comprehension.
Malki stated that “The Celestial chain holds the highest power. Ultimately, it’s this entity that keeps a permanent record of events, which could potentially survive longer than our lifetimes on Earth.
In some instances, satellites may temporarily lose contact due to being in darkness, which can take anywhere from a few seconds to several minutes to re-establish. To handle such situations, we’re developing an Earth-based system called Uncelestial, that relies on the stability and definitiveness of L1 in space cryptocurrency.” She further explained.
Instead of existing scaling methods in the cryptocurrency sector like rollups, domestic rollups, and ZK-rollups, Malki indicated that their goal is for the ground-based layer-2 to offer both swift response times and definite finality.
Disclaimer: Spacecoin XYZ is not to be confused with an unaffiliated project called Spacecoin.org.
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2024-11-01 08:17