Velas Network AG conducts a space-based transaction, becoming the third blockchain with its own node in orbit

Velas becomes the third blockchain to run a node in space.

The Velas team confirmed the transaction using a node on a space satellite. Velas became the third blockchain after Bitcoin and Qtum with its own node in space.

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The launch of the satellite took place on January 13, 2022. The orbital insertion involved the Singapore blockchain platform SpaceChain and the American aerospace company SpaceX. The device itself was built by the space data collection and processing company Spire Globe.

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The space Velas node supports transaction processing, interaction with smart contracts, and the creation of tokens compliant with ERC-20 and ERC-721 standards (NFT).

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The ground station team sends the unsigned transaction to the satellite, and the node signs it and returns it. The ground station transmits the transaction to the Velas network, where validators include it in a block.

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\”SpaceChain — pioneers of a space economy: the platform combines blockchain infrastructure with technologies of the future. The integration of Velas blockchain in orbit will allow our ecosystem to address the problems of ground-based centralized infrastructure,\” the company’s press release said.

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In the future, SpaceChain and Velas Network AG plan to host a node on the International Space Station.

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Velas — [simple_tooltip content=\’CPU-оптимизированная машина  для выполнения кода в ядре операционной системы. Используется в дата-центрах для обработки больших потоков данных.’]eBPF[/simple_tooltip] and [simple_tooltip content=\’Ethereum Virtual Machine (виртуальная машина Ethereum), выполняет смарт-контракты в децентрализованной манере.’]EVM[/simple_tooltip]-compatible blockchain from the Swiss Velas Network AG with a Delegated Proof-of-Stake consensus algorithm. The network throughput exceeds 50,000 transactions per second.

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In the future, Huobi and Bitget conducted a listing of the Velas blockchain token (VLX). The exchanges added Velas trading pairs against the stablecoin Tether (USDT).

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