SpaceX: launch of the first cryptographic satellite in space – BeinCrypto International

A coffee-cup-sized crypto satellite has made its way to low Earth orbit, carrying the cryptography related to blockchain in space.

This Wednesday, May 25, Cryptosat threw Crypto1, a crypto satellite module from space Florida aboard a Falcon 9 rocket destined for the Transport 5 mission of SpaceXmarking the beginning of blockchain technology in space.

Cryptosat’s mission is to design satellites supplying apps crypto, blockchain and ledger.

“We believe satellites have unique properties that make them well suited for these tasks, and by launching these platforms into space, we can unlock exciting new opportunities in computing,” the company said.

“We’re sort of joining the Uber of spaceflight,” said Yonatan Winetraub, co-founder of Cryptosat. “Everyone goes into the same orbit, and we are among the passengers.”

The satellite will provide cryptographic services

“SpaceX has launched a host of satellites, each of them doing something different. It doesn’t matter to our service. We hope to use our satellite to provide cryptographic services to our customers on Earth, which will not interfere with other satellites at all.”

“Working with a space asset is different from working here on Earth,” said Yan Michalevsky of Cryptosat. “On the ground, if something goes wrong, just open a terminal and remove the bug. In space, this option is not always available.”

Mr. Michalevsky also said that this launch will be the first system cryptographic independent “not dependent on other satellites of other companies.” The company further plans to develop zero-knowledge proof protocols in the future.

Proof by zero is a technology of cryptography advanced way to verify transaction details in a secure manner, and commonly used in voting mechanisms of Decentralized Autonomous Organizations (DAOs).

Mr. Michalevsky added: “The needs in this area are enormous. If we look at the protocols, especially within the Web3there are entire financial systems as well as systems of smart contracts, kinds of digital legal agreements, which depend on the reliability of the cryptography upon which they rest.”

He also explained that space communication would be by radio frequency, which would put the systems beyond the reach of hackers operating from Earth.

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SpaceX: launch of the first cryptographic satellite in space – BeinCrypto International


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