On Wednesday, SpaceX will launch Cryptosat’s first microsatellite. According to Cointelegraph.com
Using off-the-shelf components, the satellite is small enough to fit in a coffee mug and can be used to protect blockchains and other Web3 protocols.
SpaceX Will Launch Cryptosat’s First Microsatellite
A “crypto-satellite” will be launched into low Earth orbit on Wednesday if all goes according to plan, paving the way for secure blockchain-related cryptography in space.
As part of SpaceX’s latest Transporter 5 mission, Crypto1 sailed aboard a Falcon 9 rocket as part of a crypto-satellite module from Cryptosat. Earlier this year, the International Space Station ran a blockchain satellite experiment.
Cryptosat co-founder Yonatan Winetraub remarked, “We’re effectively joining the Uber of spaceflight.” As the saying goes, “We’re all in this together.”
To this, he said, “it makes no difference for our service.” “We are intending to use our satellite to provide cryptographic services for our customers here on Earth that will not interfere at all,” he said. “
Crypto1 is an off-the-shelf, coffee-mug-sized module that was built using standard parts. Blockchain and ledger applications can be launched from a physically inaccessible and tamper-proof space platform.
It’s the first off-world “root-of-trust,” a source of confidence that is “not dependent on other satellites by other corporations,” but rather provides the hardware in space, says co-founder Yan Michalevsky.
“This is a must-have.” There are complete financial systems and smart contract systems that rely on the stability of cryptography when it comes to protocols in the Web 3.”
Decentralized autonomous organizations (DAOs) are increasingly using zero-knowledge proof protocols, such as those set up by Michalevsky, to make decisions without revealing the votes of individual members.
Having the ledger out of reach of attackers could mean that crypto mining is no longer essential, as it would no longer require decentralization through numerous validators, which is another possible purpose for the module.
He feels that a trusted module in space is vital since attackers have the motivation and ability to gain access to Earth-based modules. On the other hand, there is no technology for capturing and tampering with a satellite.
Winetraub continued, “another uncommon trait is that communication by radiofrequency is done by radio frequency, you can’t truly conceal and launch an attack:”
We can now provide similar services from space thanks to the explosive growth of blockchain technology over the last few years. It is our goal to assist the blockchain industry and provide these modules that everyone can rely on with unmatched security.”
The company’s goal, according to Michalevsky, is to have at least one satellite visible at all times in order to connect with the orbiting modules.
“We will delve deeply into the blockchain space and build a great deal of ground infrastructure that will be interoperable with the blockchain’s various protocols,” said Michalevsky, who also wants to work on a consumer-facing product because the space industry lacks easy-to-use interfaces for Web3 application users.