The European Space Agency (ESA, for its acronym in English), announced that it would give its backing to a startup devoted to the study of the technology of chain blocks, called SpaceChain, to investigate the use cases of your system wallet Blockchain-based satellites. According to the company, THAT will give you a grant of 60,000 euros to carry out their research. This sponsorship of “activities start”, will help to SpaceChain in their efforts to put in orbit a satellite network, a distributed, hyper-secure, and multiple signatures. The startup has already tested nodes Blockchain in space. This “technology Blockchain space” it should work the following way: it uses a system of three signatures, two of them on the ground and a third in orbit, in the satellite. Each transaction requires at least two of the three signatures to be able to be completed. The co-founder and CEO of SpaceChain, Zee Zheng, ensured that its nodes based on satellites are much more secure that the processing of terrestrial networks on the Internet open to data and protocols that, in the end, should be connected to a satellite. Instead, his proposal makes this process much more direct, fast and safe. Something that Zheng he made a special emphasis is that “we don’t need access to the Internet to perform this kind of transaction.” This, in the eyes of the startup, it is still one of its biggest advantages, since, among other things, “eliminates many potential risks of piracy.” “We are seeing a market that last year saw steal $1 billion in cryptography. That will be much more difficult for hackers (in our system)”. The CEO of SpaceChain called the economic support that you will receive from the ESA as an opportunity for the industry to cryptographic and encryption learn more about space applications based on the chain of blocks. He also pointed out that there is a great interest among the developers due to the potential applications that this tool can have in the area of security. “We want to take this opportunity to show how the space can benefit the space Blockchain”. Due to the number of uses that has the technology of chain blocks, in many opportunities, innovative ideas for their application end up being ignored. However, the project of this startup can help you not only to that the ecosystem is aware of this new use for the technology, but take into account those other projects that could have been left out. For now, SpaceChain have plans to make three releases in the next 18 months to continue to move forward with their research. The following two tabs change content below. I am a student of International Studies, interested in new technologies and their impact on the world. A true believer that tenacity is the foundation of success.
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