SpaceChain sends Ethereum platform into space with SpaceX

On June 3, 2021, SpaceChain sent a blockchain PayLoad into space on board a SpaceX Falcon 9 rocket.In a Space-as-a-Service project, the member of the Enterprise Ethereum Alliance, SpaceChain, integrated the Ethereum (ETH) technology into space and at the same time introduced on-orbit Ethereum multi-signature transaction services. Nanoracks and Nexus are part of the initiative, with the former securing a Space Act Agreement with NASA and the latter being the first to use this service.This time SpaceChain sent the fourth blockchain payload into space. However, this time the company is starting the first integration of Ethereum technology into the company’s hardware on the International Space Station.The announcement states: “The security and seclusion of the space infrastructures ensure the independence of the Ethereum contract operation from centralized terrestrial servers and thus enables more efficient smart contract operation and more extensive application possibilities. Zee Zheng, SpaceChain co-founder, and CEO commented on the development:“With Ethereum’s smart contract platform, which works in space, we can equip blockchain applications and transactions with increased security and immutability.”Not only the Ethereum blockchain should be used in space. Some other blockchain-focused projects are also experimenting with getting their products into space. The team at the decentralized finance synthetic derivative Opium Finance Protocol recently revealed that their decentralized insurance contract will work with UMA’s oracle solution to bring data from the real world to the blockchain.The derivatives act as binary options contracts that allow users to purchase insurance against a failed launch with SpaceX. With the SmallSat Rideshare program, organizations can launch lighter and smaller payloads for as little as $ 1 million.This month, the IoT company WISeKey is also launching the first part of a non-fungible token ecosystem onboard a SpaceX Falcon 9 rocket. A WISeKey device is attached to the outside of the deployer and exposed to…