Velas First to Launch in Space Aiming a Fully Distributed Space Network by 2025

Velas is currently the first 3rd generation Blockchain to engage in the space race, and we’re happy to work on this mission with Spacechain.

“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.

“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.

About Velas

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:

About SpaceChain

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:

Velas is Artificial Intuition-operated DPoS Blockchain and Ecosystem for secure, interoperable, extremely scalable transactions. Visit: www.velas.com