Spacecoin XYZ: Launching the Future of Blockchain in Space
Spacecoin XYZ: Pioneering a Blockchain Network for the Space Economy
Spacecoin XYZ, a crypto satellite startup, has unveiled an innovative approach to launching an extra-terrestrial blockchain network aimed at facilitating a future “space economy.” In their Nov. 1 Blue Paper, the company outlines a plan to deploy a decentralized physical infrastructure network (DePIN) using a fleet of nanosatellites orbiting Earth. Co-founder Daniel Bar shared with Cointelegraph that this initiative could lay the groundwork for a native space economy.
Bar envisions a future where satellites and interstellar travelers can leverage a blockchain network as a marketplace and application layer in space. He emphasizes the importance of maintaining the integrity of blockchain technology, along with the associated privacy and security features, beyond the confines of Earth.
Although the goal may seem ambitious, Bar insists that planning for a space economy must commence immediately, especially in light of SpaceX CEO Elon Musk's aim to send humans to Mars within the next two years. So far, Spacecoin has successfully launched three satellites for initial testing with its infrastructure partner, Aptos Orbital.
Why Build DePIN in Outer Space?
Aside from creating an armageddon-proof economy, there are several critical reasons for establishing a blockchain network in space, according to Spacecoin adviser Dahlia Malki, a computer science professor at the University of California, Santa Barbara. She identifies potential key use cases, including:
- A marketplace for “celestial services”
- A secure co-processor for confidential computations
- A hyper-secure data custodian
Currently, Spacecoin’s primary objective is to function as a space data center, providing security levels unattainable on Earth. Malki describes it as a trusted hardware platform that becomes impervious once deployed securely. “Once the satellite is in space, it’s tamper-proof. We can bring the satellite down, but we cannot manipulate the hardware,” she explained.
Additionally, Malki notes the increasing congestion in Earth’s orbit due to the surge in satellite services like Musk’s Starlink, imaging, and communication providers. “These services will benefit from a platform that operates a marketplace, eliminating the need to communicate with Earth for every transaction, payment, or enforceable agreement,” she stated.
How Does Spacecoin Operate?
Spacecoin proposes a unique two-tier architecture featuring a layer-1 network in space and accompanying layer-2 state chains on Earth. The off-world layer-1 is termed the “Celestial Chain,” while the Earth-based layer-2 is called the “Uncelestial” network.
“The Celestial Chain serves as the outermost authority, recording an immutable history that could potentially outlast humanity on Earth,” Malki explained. “We anticipate that satellites may occasionally experience dark periods, so we are building the Uncelestial layer on Earth, relying on the authority and finality of the layer-1 network.”
Unlike current scaling solutions in the crypto space—such as rollups and ZK-rollups—Malki noted that the Earth-based layer-2 aims to offer hard finality with fast latency.
As Spacecoin forges ahead with this groundbreaking initiative, the future of a secure and efficient space economy looks promising.