SpaceChain launches Velas blockchain node into space.

Singapore-based SpaceChain announced the successful launch into space of a payload integrated with a Velas blockchain node.

#SpaceChain has launched @VelasBlockchain node into #space. Our payload was installed on a @SpireGlobal satellite and transported via @SpaceX Falcon 9 rocket. #Velas node supports on-orbit @ethereum transaction and minting of ERC-721 standard #NFT

Read: https://t.co/GsJripRYji

— SpaceChain (@SpaceChain) January 13, 2022

The satellite carrying the hardware was developed and built by the US-based company Spire Global.

The spacecraft joined the 105 satellites launched into orbit on January 13, 2022 by SpaceX’s Falcon 9 rocket as part of the third Smallsat Rideshare mission.

Falcon 9 launches 105 spacecraft to orbit and lands at Landing Zone 1 pic.twitter.com/JapUxU6oMU

— SpaceX (@SpaceX) January 13, 2022

According to the statement, after testing and activation the hardware will enable the Velas team to continue developing and deploying its blockchain platform.

«The space node created for Velas will also provide highly secure on-orbit services for transactions sent to and received from Earth, as well as the issuance and distribution of tokens of the VRC-20 and VRC-721 (NFT) standards,» the statement said.

The Velas network is a fork of Solana and uses the Ethereum Virtual Machine.

In the next phase of the collaboration, the partners plan to place the equipment on the International Space Station (ISS).

«Having a node on the ISS is a complex task, as NASA conducts a rigorous assessment and approval process,» said Farhad Shagulyamov, co-founder and CEO of Velas Network.

The company noted that it became the third blockchain to have a presence in space.

In November 2018, SpaceChain sent into orbit a full-function node of the Qtum network. In 2020 the company conducted the first Bitcoin transaction using the multisignature technology on equipment deployed on the ISS.

In 2020, Blockstream began selling devices to connect to the Satellite 2.0 satellite network, which provides access to the Bitcoin network without the Internet. Experts from BitMEX Research who tested the satellite node highly praised the equipment.

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