Satellite Project SpaceChain Concludes the First Qtum Blockchain Transaction in Space

224
ADVERTISEMENTSToken Agency
Blockchain Expo North America 2019
global

Community-based space platform SpaceChain has announced the successful testing of its second blockchain node in space, launched into orbit on October 25, 2018, by a CZ-4B Y34 rocket from Taiyuan Satellite Launch Centre, Xinzhou, China.

“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” said SpaceChain co-founder and chief executive officer Zee Zheng.

advertisementToken Agency

The node is embedded with SpaceChain’s smart operating system, SpaceChain OS, and can perform blockchain-related functions on the Qtum blockchain such as running smart contracts and multi-signature transactions.

“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,” said SpaceChain co-founder and chief technology officer Jeff Garzik. “SpaceChain deployed and tested the space-based multi-signature transaction which opens up brand new possibilities in space security models.”

Since the launch on October 25, the team has run a 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, finally verified on the blockchain network. The transaction verification information can be found here.

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 first blockchain node that SpaceChain launched into orbit on Feb 2, 2018, was equipped with a Raspberry Pi hardware board and blockchain software. It ran a full-node program on the Qtum blockchain and could process existing blockchain data. The node was offline and had limited functionality, but it was the first successful deployment of a Qtum blockchain node in low earth orbit.

Additionally, this node has a geospatial tracking feature that lets you watch the node orbit the earth in real time.

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

Visit Website
View All Articles
advertisements Blockchain Partners


Token Agency
global
Tymlez
Blockchain Expo North America 2019