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One Small Step for Bitcoin - SpaceChain Secured Transfer From International Space Station
SpaceChain said the test advances its dreams of building a decentralized blockchain infrastructure in space.
SpaceChain, the U.K. crypto firm with extraterrestrial aspirations, secured a bitcoin transfer with its multi-signature transaction hardware orbiting Earth every 90 minutes.
STORY CONTINUES BELOW
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- SpaceChain's International Space Station-hosted (ISS) hardware authorized a 0.0099 BTC (about $92 at the time) transfer initiated by Chief Technology Officer Jeff Garzik on June 26, the decentralization company disclosed Tuesday.
- Developed by GomSpace and installed on the ISS on June 25, that hardware holds a private key needed to verify blockchain transactions via the "multi-signature" technique.
- Data can only reach the ISS via the craft's encrypted ground station links. SpaceChain says this adds security and resilience to transaction authorizations.
- Representatives did not immediately answer CoinDesk's questions as to why a transaction initiated on June 26 was only made public nearly two months later.
- Although the ISS hardware cannot communicate with other crafts, SpaceChain hopes to build and launch robust decentralized blockchain infrastructure that can do so.
Read more: A Bitcoin Wallet Is Orbiting the Earth at 5 Miles Per Second
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
