Get Ready, Blockchain Is Going to Space
http://bitguru.co.uk/the-blockchain-in-space/The Blockchain, this time, in Space
The groups over at Vector and Nexus are teaming up to bring the world of cryptocurrency into space. They believe that they can tackle different aspects of decentralization through escaping government control and improving other user aspects with enhanced, next level technology.
So what exactly are they doing?
Well, they are working to host the world’s first cryptocurrency on a satellite platform in space, adding to the increasing interest in the space economy.
Vector
The firm, Vector, which primarily serves as a “nanosatellite launch company” and commands a stellar team of experts from companies like SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch, VMware and other has recently announced their partnership with Nexus to host the world’s first decentralized space cryptocurrency. The two groups will be conducting this launch with the GalacticSky Software-Defined Satellite Platform that the company, Vector, has created.
Where does Nexus fit into the picture?
Nexus will officially be the first company to have the honor of deploying a cryptocurrency on a satellite that orbits the planet earth. The project showcases the use of GalacticSky platform and flexibility it provides for potential users. Furthermore, the partnership will facilitate, the aspect of payments for customers who are interested in future launches. Payments can be made in NXS, the cryptocurrency of Nexus.
A representative of the firm, Colin Cantrell, the founder and lead developer of Nexus, states:
“With Bitcoin’s valuation at an all-time high, people are beginning to accept cryptocurrency as a real form of payment, but there are still problems with storage and ownership.”
The founder of Nexus continued:
“The capabilities provided by the GalacticSky platform, combined with the flexibility of Vector’s launch model, bring us one step closer to accomplishing our mission of providing the world with a decentralized currency that can be accessed virtually anywhere, anytime.”
The Value
The developers of the Nexus technology believe that they can offer significant advances in the cryptocurrency sector.
Nexus is incorporating SHA-3 cryptography and 571-bit keys, priming for the future, with quantum oriented safety and defense mechanisms. This means that they can have security that prepares for the threats that one can face in the quantum age.
Another critical aspect that the company is working on is the idea of the 3D chain to allow for a better scaling solution.
Further Decentralization
By hosting NXS in space through Galactic Sky, Nexus can free itself from being tied to a single nation and can create a more decentralized financial ecosystem.
This aligns with their mission:
“To free humankind from centralized systems. Merely being decentralized is not enough. We must decentralize the decentralization. Using software and hardware, Nexus seeks to build the foundation for the most decentralized system to ever be developed: Nexus Earth.”
Their mission makes an additional crucial point that is line with what founders from other projects like Kin has said:
“This network will empower everyone from the first world to the third world. Not everyone has money, but everyone has time.”
The founders of Nexus are looking to tackle fundamental aspects of the internet, allowing for decentralization.
They are seeking to conduct this through the aspect of satellites.
Satellite virtualization utilization via GalacticSky, allows Nexus to spread their blockchain across many satellites, giving their blockchain and increased aspect of reliability and performance. Their cryptocurrency is supposed to be secure and a decentralized peer – to – peer network, providing users with more freedom and transactional transparency in their access worldwide access to financial services.
Hosting Nexus cryptocurrency on Vector’s software-defined satellite, allows Nexus to demonstrate their versatility for innovation which can be hosted on the GalacticSky platform..............
