SpaceChain paves the way for high-speed blockchain processing in space with seventh payload launch

SpaceChain paves the way for high-speed blockchain processing in space with seventh payload launch

Mission validates the high adaptability of blockchain-enabled space nodes and the ability to perform high-speed processing in space

CAPE CANAVERAL, Fla., 26 November 2022 /PRNewswire/ — SpaceChain announced today that it has launched its second Ethereum Virtual Machine (EVM) payload into space aboard a SpaceX Falcon 9 rocket, which is en route to the International Space Station (ISS) for installation via the SpaceX Dragon 2 spacecraft. The mission marks SpaceChain’s seventh successful blockchain payload launch into space, and the second integration of the payload with Velasthe world’s fastest EVM blockchain and open source platform for decentralized applications.

Once installed and tested on the ISS via Nanoracksthe space node will be able to process the Velas blockchain on the ISS and send Velas digital assets from space, such as VLX, tokens and NFTs, as well as perform complete high-speed transaction services across the Velas platform, including smart contract distribution and coin minting.

Today’s mission not only confirms SpaceChain’s commitment to empowering blockchain companies to leverage space as a platform for business innovation, and the high adaptability of blockchain-enabled space nodes to meet various industry needs, it also validates the feasibility and feasibility of executing high-speed blockchain. processing in space, serving as a successful scientific demonstration of SpaceChain’s highly integrative space-as-a-service solutions with EVM-compatible blockchain technology.

“As the world’s most progressive enterprises take their businesses to space, they will require a high-speed decentralized infrastructure to meet demands and growth driven by protocols and financial applications,” said Cliff Beek, CEO of SpaceChain. “Our collaboration with Velas will help lay the foundation for high-speed and ultra-secure blockchain processing and transactions in space, which we believe will become increasingly critical for those seeking to leverage space technologies for competitive advantage in the growing space-to-Earth economy.”

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“It is a historic milestone for Velas to be able to test our integrated space node on the ISS through SpaceChain. We are thrilled to see this vision realized, which took many months of planning and coordination with space industry stakeholders,” said Farkhad Shagulyamov. co-founder and CEO of Velas. “We look forward to strengthening our collaboration with SpaceChain to create innovative solutions and business applications in the near term.”

Velas is the fastest EVM blockchain capable of handling 50,000+ transactions per second (TPS) with an innovative hybrid consensus of Delegated Proof-of-Stake (DPoS) and Proof-of-History (PoH).

The collaboration between SpaceChain and Velas is poised to improve consensus mechanisms in blockchain, and help generate use cases of space-based blockchain and decentralized infrastructure beyond financial services and cryptocurrencies.

About SpaceChain
Founded in late 2017, SpaceChain established the first satellite platform to provide secure custody, digital asset transactions, deploy smart contracts and facilitate decentralized financial infrastructure (“DFI”) on space nodes. SpaceChain aims to bring advanced security and global access, and integrate software-defined payloads to develop blockchain applications in orbit. SpaceChain currently has a network of nodes operating on satellites and aboard the International Space Station (ISS). SpaceChain has demonstrated commercial and deployment success to deliver space missions and is now poised to capture high growth and high value. For more information, visit www.spacechain.com.

SOURCE SpaceChain

SpaceChain paves the way for high-speed blockchain processing in space with seventh payload launch

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