KEY FACT: Spacecoin XYZ has launched its first satellite into orbit, signposting the beginning of its space-based decentralized physical infrastructure network (DePIN). The satellite, deployed via a SpaceX Falcon Heavy rocket, is part of the company’s plan to create an orbital blockchain network for enhanced security and resilience. Spacecoin's "crypto engines" and solar-powered hardware are designed to be tamper-proof, ensuring unparalleled data protection. This launch is the initial phase of deploying a constellation of satellites to bring the Spacecoin mainnet online by 2025, integrating its innovative "Celestial Chain" layer-1 network with terrestrial layer-2 chains.

An image of Spacecoin XYZ’s first test satellite was sent into space earlier this year. Source: Spacecoin XYZ

Spacecoin XYZ Launches First Satellite, Pioneers Space-Based Blockchain Network

Spacecoin XYZ has successfully launched its inaugural satellite into Earth's orbit. This achievement marks the initial phase of establishing an extraterrestrial decentralized physical infrastructure network (DePIN) aimed at enhancing blockchain security and resilience.

The satellite was deployed aboard a SpaceX Falcon Heavy rocket, which lifted off from California at 3:34 am local time on December 21. This launch signifies an important milestone towards realizing the "Spacecoin layer" in Earth's orbit, according to co-founder Daniel Bar. He further disclosed that this satellite is the first of many, with plans to deploy a constellation of seven to ten additional satellites in 2025 to bring the Spacecoin mainnet online.

Each Spacecoin satellite comprises two "crypto engines," devices approximately the size of a desktop hard drive, and an additional data module comparable to a MacBook in size. These components are integrated into the satellite's main infrastructure, known as the "bus," and are powered by solar panels once in orbit.

Spacecoin XYZ posits a two-tiered design, with the deployed L1 in outer space. Source: Spacecoin

Dahlia Malkhi, an adviser to Spacecoin and a computer science professor at the University of California, Santa Barbara, elaborated on the project's ambitions. She noted that Spacecoin aims to function as a space-based data center, to provide unparalleled security levels unattainable on Earth. Malkhi emphasized the tamper-proof nature of the hardware once deployed in space. In her words:

"Nobody can tamper with the hardware on a satellite, not even us."

On November 1, Spacecoin XYZ released its Blue Paper which detailed its strategy for launching a DePIN using a fleet of nanosatellites. The design introduces a novel architecture featuring a layer-1 network, termed the "Celestial Chain," deployed in outer space, complemented by terrestrial layer-2 state chains referred to as the "Uncelestial" network. This two-tiered system positions the Celestial Chain as the ultimate authority, recording an immutable history that could potentially outlast human civilization on Earth.

This development is a significant leap in integrating blockchain technology with space infrastructure, and potentially sets new standards for security and decentralization in the digital age.

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