Reading time: ~ 2 m
SpaceChain today announced the successful launch of a blockchain payload integrated with a space node built for Velas Network AG into space aboard a SpaceX Falcon 9 rocket.
The payload was installed on a satellite designed and manufactured by Spire Global, Inc., which also led the launch. The mission marks the sixth launch of SpaceChain’s blockchain payload into space and the successful integration of Velas, the world’s fastest ethereum virtual machine (EVM) blockchain and open source platform for decentralized applications.
The main mission of Velas is to provide a fast and cost-effective multifunctional blockchain network. Velas includes an Ethereum virtual machine allowing developers to deploy any type of Ethereum-based dApp based on Solana code. With many technological advantages, Velas is one of the leading platforms for decentralized applications of all kinds.
To advance its decentralized projects and applications, Velas will leverage the enhanced security and immutability of the space-grade infrastructure developed and deployed by SpaceChain. Once tested and activated, the space node will allow Velas to continue developing and deploying its blockchain platform, which aims to be one of the most secure and fastest platforms in the industry.
“In order to realize their full potential, next-generation blockchain platforms and fintech applications require a decentralized infrastructure. We are thrilled to be working in partnership with Spire to help bring Velas into space and unlock new opportunities in the new space economy,” said Zi Zheng, Co-Founder and CEO of SpaceChain.
The space node built for Velas will also provide highly secure in-orbit services for Velas transactions sent to and from Earth, as well as the minting and distribution of VRC-20 (fungible) and VRC-721 (non-fungible, NFT) tokens.
“A new era has come in the development of blockchain technology, the space economy opens up new horizons for both the technology and its users,” said Farhad Shagulyamov, co-founder and CEO of Velas. “Velas is one of the first blockchain networks to participate in this space race and ultimately aims to host its payload on the International Space Station (ISS). Having a node on the ISS is challenging as NASA goes through a rigorous evaluation and approval process. We are confident that both Velas and SpaceChain have the necessary technical expertise and resources to realize this vision.”
Today’s mission is made possible by the integration of cutting-edge technologies and capabilities through a partnership between SpaceChain and Spire Global, first announced in September 2021. Spire is using its AI-embedded “SABERTOOTH” space computing module in addition to SpaceChain’s decentralized satellite network (DSI) to help Velas increase its competitiveness and overcome the challenges of a centralized terrestrial infrastructure.
“SpaceChain’s unrivaled experience in deploying space-grade infrastructure for the blockchain industry is helping to take our business to new frontiers,” said Dragos Dumitrascu, head of global partnerships at Velas. “Likewise, SpaceChain will greatly benefit from one of the fastest blockchain technologies ever developed to advance its decentralized architecture and community-based space platform.”
#SpaceChain #Launches #Worlds #Fastest #EVM #Blockchain #Virtual #Machine #Decentralized #Ecosystem #Orbit
