Spacecoin XYZ has successfully launched its inaugural satellite into orbit, marking the project’s initial step towards establishing a network of satellites that will enable blockchain networks to be secured in outer space. In an interview with Cointelegraph, Spacecoin XYZ co-founder Daniel Bar stated that the first satellite, which adheres to official standards, represents a significant milestone in bringing the “Spacecoin layer” online within Earth’s orbit.
The satellite was deployed as part of the SpaceX Falcon Heavy mission, which took off at 3:34 am local time in California on December 21. Bar revealed that this Spacecoin satellite is the first of many satellites expected to be launched in the upcoming months. The plan is to deploy a “constellation” of seven to ten additional satellites by 2025, aimed at establishing the Spacecoin mainnet.
The Spacecoin satellite comprises two small devices known as “crypto engines,” each approximately the size of a desktop hard drive, along with a data module similar in size to a Macbook. These components are connected to the satellite’s main infrastructure, known as the “bus,” and are powered by solar panels once in orbit around Earth.
Dahlia Malkhi, a Spacecoin adviser and computer science professor at the University of California Santa Barbara, explained to Cointelegraph that Spacecoin’s objectives range from serving as an off-world backup layer for blockchain networks to creating a marketplace for “celestial services.” However, the immediate focus of Spacecoin is to establish itself as a space data center, offering unparalleled levels of security compared to Earth-based systems.
Malkhi emphasized the security of the hardware platform deployed on the satellite, stating that it is tamper-proof once safely launched. She highlighted that even the Spacecoin team cannot manipulate the hardware once deployed. On November 1, Spacecoin XYZ released its Blue Paper outlining the strategy for launching a decentralized physical infrastructure network (DePIN) using nanosatellites in space.
According to the Blue Paper, Spacecoin will introduce a unique design featuring a layer-1 network in outer space (Celestial Chain) and layer-2 state chains based on Earth (Uncelestial network). Malkhi described the Celestial Chain as the ultimate authority that records an immutable history, potentially lasting beyond human lifetimes on Earth.