Spacecoin XYZ has successfully launched its first-ever satellite into orbit, marking the project’s initial step towards establishing a fleet of satellites in space to secure blockchain networks. Speaking to Cointelegraph, Spacecoin XYZ co-founder Daniel Bar stated that the first officially standardized satellite represents a significant milestone in bringing the “Spacecoin layer” online within Earth’s orbit. The satellite was launched as part of SpaceX Falcon Heavy at 3:34 am local time in California on Dec. 21.
Bar mentioned that the Spacecoin satellite will be the first of many satellites to be launched in the upcoming months. Spacecoin plans to deploy a “constellation” of between seven and ten additional satellites by 2025, which will enable the Spacecoin mainnet to go online. The Spacecoin satellite consists of two small devices known as “crypto engines,” each approximately the size of a desktop hard drive, along with a data module roughly the size of a Macbook. These modules are attached to the satellite’s main infrastructure, known as the “bus,” and are powered by solar panels once deployed in Earth’s orbit.
Dahlia Malkhi, Spacecoin adviser and professor of computer science at the University of California Santa Barbara, stated to Cointelegraph that Spacecoin’s aspirations include the DePIN network serving as an additional backup layer for blockchain networks in outer space and a marketplace for “celestial services.” Currently, Spacecoin’s primary objective is to establish itself as a space data center, offering levels of security that are unattainable on Earth.
On Nov. 1, Spacecoin XYZ introduced its Blue Paper, outlining its strategy to launch a decentralized physical infrastructure network (DePIN) using a fleet of nanosatellites in space. According to the Blue Paper, Spacecoin will implement a unique design consisting of a layer-1 network deployed in space, known as the “Celestial Chain,” and layer-2 state chains based on Earth, referred to as the “Uncelestial” network.
“The Celestial Chain serves as the outermost authority. Ultimately, it records an immutable history that may endure beyond our lifetimes here on Earth,” Malkhi explained.