While the space race for humanity began in the mid-1950s, blockchain technology took its first steps outside Earth in February 2018. Velas is proud to be among the pioneers of this big leap for both the space industry and cutting-edge distributed ledger technology by engaging space-as-a-service solution provider and partner SpaceChain for these endeavours, after Elon Musk declared the start of the space race in early June 2021.
With the news that SpaceX was going to carry some payload funded by Dogecoin, the latter was likely to be the first cryptocurrency to reach the Moon. Velas blockchain is currently the first 3rd generation distributed ledger system to engage into this space race by collaborating with SpaceChain.
The partnership between the space industry and blockchain is mutually beneficial. Conducting transactions via satellites will provide an even higher level of security and decentralization to distributed ledger technologies like Velas. Thus, blockchain infrastructure is protected against any physical intrusion, for instance. On the other hand, blockchain will provide space programs with a set of applications and features to contribute to the development of the further exploration of the Universe.
“The new epoch in the development of blockchain technology is right upon us. Humanity needed thousands of years of evolution to reach low Earth orbit. It took about ten years for blockchain to have the first transaction be conducted on the low Earth orbit since the moment when the first bytes were transmitted via Bitcoin Network. This blockchain space saga opens up new horizons for both the technology and its users. Velas aims at putting its payload on the International Space Station (ISS). This is one of our primary goals in the first phase of this space race” — Farhad Shagulyamov, Co-Founder and CEO of Velas, said.
The first testing node was launched to low Earth orbit in 2018. SpaceChain has signed MOUs and agreements with various space industry-related companies and organizations since then. In 2019, SpaceChain completed the first blockchain transaction ever made in space, which was automatically made that year the starting point of blockchain space exploration Odyssey.
The collaboration between Velas and SpaceChain is destined for success. Elon Musk’s SpaceX Falcon 9 rocket launched the Transporter 3 rideshare mission with several small satellites for government and industry customers on January 13th. It lifted off from Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida, at 10:25 a.m. EST (1525GMT). SpaceChain will benefit from one of the fastest blockchain technologies ever (with 75,000+ transactions per second). Moreover, Velas will provide SpaceChain with the opportunity for customers to create various cost-effective dApps that will contribute to further space exploration.
“We are excited to be part of such significant leaps in the industry. Velas is currently the third blockchain to engage in this space race and we’re happy to work with such a unique partner. SpaceChain’s expertise in these two arenas helps us skyrocket to the future of business operations. We look forward to working closely with SpaceChain to create new solutions and experiences for our users and communities” — Dragos Dumitrascu, Head of Global Partnerships at Velas, said.
For Velas, this collaboration is a giant leap towards new markets and use cases. The company is proud to be among the first blockchains operating outside the Earth. In practical terms, this will help to add to enhanced security, which, in turn, will increase the quality standards for the whole blockchain industry.
For the next mission, SpaceChain & Velas aim to put their payload on the ISS. Although putting the node on the ISS is a challenging task as NASA goes through a rigorous evaluation and approval process, we are confident that both Velas and SpaceChain will possess the required technical expertise and resources to meet this challenge.
The main mission for Velas is to provide a fast and cost-effective, multi-feature blockchain network. Velas includes the Ethereum Virtual Machine to allow developers to deploy any type of Ethereum-based dApps on the Velas blockchain premises based on the best parts of the Solana code. With many technological advantages, Velas is among the leading platforms for decentralized applications of all kinds. With the Velas Grant Program, the blockchain attracts teams that contribute to further Velas ecosystem expansion. For more information, visit:
SpaceChain fosters decentralized infrastructure for the New Space Economy. By combining space and blockchain technologies SpaceChain is making the development of space applications easier and making space more accessible. For more information, visit: