Spacecoin XYZ has successfully launched its first satellite into orbit, marking the project’s initial step towards establishing a network of satellites that will enhance the security of blockchain networks in outer space.
In an interview with Cointelegraph, Spacecoin XYZ co-founder Daniel Bar stated that the launch of the first officially standardized satellite was a significant milestone in establishing the “Spacecoin layer” in Earth’s orbit.
The satellite was deployed as part of SpaceX Falcon Heavy, which took off at 3:34 am local time in California on Dec. 21.
Bar disclosed that the Spacecoin satellite is just the first of many satellites that will be launched in the upcoming months. The plan is to deploy a “constellation” of seven to ten additional satellites by 2025, which will enable the Spacecoin mainnet to go online.
The Spacecoin satellite is equipped with two small devices referred to as “crypto engines” by Bar, each approximately the size of a desktop hard drive, and another data module about the size of a Macbook. These components are attached to the satellite’s “bus,” the primary part of the satellite infrastructure, and are powered by solar panels once in orbit around Earth.
Dahlia Malkhi, a Spacecoin adviser and computer science professor at the University of California Santa Barbara, explained to Cointelegraph that Spacecoin’s aspirations include the DePIN network serving as a backup layer for blockchain networks in space and a marketplace for “celestial services.”
However, the main focus of Spacecoin currently is to establish itself as a secure space data center, offering levels of security that are unattainable on Earth. Malkhi emphasized the importance of the platform being a trusted hardware platform that is tamper-proof once deployed safely and securely.
On Nov. 1, Spacecoin XYZ released its Blue Paper, outlining its strategy for launching a decentralized physical infrastructure network (DePIN) using nanosatellites in space. According to the Blue Paper, Spacecoin will introduce a unique design with a layer-1 network in outer space known as the “Celestial Chain,” alongside layer-2 state chains based on Earth.
Malkhi concluded by stating, “The Celestial Chain is the ultimate authority. Ultimately, it is the one that records an immutable history that may outlast our lives here on Earth at some point.”