SpaceX Launches First Crypto Satellite For Blockchain Applications

SpaceX this week launched a satellite for Cryptosat, a company working on satellites that use blockchain for a variety of applications. The “crypto satellite” is the first of its kind and is only the size of a coffee mug.

Blockchain in space

The nanosatellite was put into orbit by SpaceX from the ‘spaceport’ in Cape Canaveral, Florida. So reports the company D-Orbit, which helped with the launch.

When you think of space, you probably quickly think of NASA and scientific research, but there is already a big industry for commercial applications. The new satellite should provide ‘cryptographic services’ to earthlings and protect blockchains and web3 protocols in a fraud-proof manner. The device is the first “root of trust” that is not in this world, Cryptosat explains to Cointelegraph.

The company cites few explicit applications, but one example is drawing NFTs in space. Of course, that means that any application within the crypto industry is within reach, as long as it doesn’t consume too much energy. Indeed, the possibilities are limited for that a small device in space. For example, think of a crypto server in space, or a system for DAO voting.

Uber for satellites

The ‘nanosatellite’ is only the size of a coffee mug and it is made with off-the-shelf parts. It is still a prototype, but clearly, a lot is possible with it.

Another handy feature is that communication takes place via radio frequencies. That means that all communication can be picked up if you have the right antenna. That leaves little room for scammers who want to abuse the satellite.

SpaceX is very important to the world of satellites. Cryptosat co-founder Yonatan Winetraub sees Elon Musk’s company as a kind of Uber for satellites. SpaceX is making commercial satellites financially viable. The Cryptosat satellite is just one that was shot into space in last Wednesday’s Transporter-5 mission.