SpaceX Rocket Sends First Crypto Satellite Into Space

A coffee cup sized crypto satellite has entered low earth orbit, bringing blockchain related crypto technology into space.Cryptosat launched crypto1 from Florida yesterday, which is an encrypted satellite module. It took the Falcon 9 rocket to SpaceX for the transportation mission 5, marking the beginning of blockchain technology in space.

Cryptosat’s mission is to build satellites to power crypto, blockchain and ledger applications. “We believe that satellites have unique properties that make them very suitable for these missions. By launching these platforms into space, we can unleash new and exciting opportunities in the field of computing,” the company said.”We basically joined Uber in space flight,” said yonatan winetraub, co-founder of cryptosat. “Everyone is on the same track, and we are one of the passengers.

Satellite Will Provide Crypto Service

“SpaceX has launched a bunch of satellites, each of which is doing something else. This is not important to our service. We hope to use our satellites to provide crypto services for customers on earth, which will not interfere with other satellites.”

“Working with space assets is not the same as working on earth,” said Yan michalevsky of cryptosat. “On the ground, if something goes wrong, you just need to turn on a terminal and debug it. When it happens in space, this is not always available.”

He also said that the launch would mark the first independent crypto system, “independent of other satellites of other companies”. And the company expects to establish a zero knowledge proof agreement in the future.

Zero knowledge proof is an advanced cryptographic technology, which can safely verify transaction details. It is widely used in the voting mechanism of decentralized autonomous organizations (DAO).

Michalevsky added: “there are many demands in this regard. If we study protocols, especially in Web3, with the entire financial system and smart contract system, the kind of digital legal protocol depends on the credibility of the underlying crypto technology.”

Michalevsky also explained that space communications would be carried out through radio frequencies, making these systems inaccessible to hackers operating from earth.