Cryptosat and SpaceX Push ‘Crypto2’ Satellite Into Earth Orbit: Details

Cryptosat and SpaceX Push ‘Crypto2’ Satellite Into Earth Orbit: Details

Cryptosat and SpaceX Push 'Crypto2' Satellite Into Earth Orbit: Details

Cryptosat, a team of Stanford University alumni and PhDs, has launched its second satellite into Earth orbit. A Falcon 9 rocket from Elon Musk’s SpaceX was used to complete the release of the “Crypto2” satellite. What makes this launch a significant development is because these satellites are intended to power crypto, blockchain, and ledger applications. These satellites will provide blockchain nodes in space that scientists can communicate with. Cryptosat’s first satellite was launched in May last year.

SpaceX launched the Crypto2 satellite on January 3 from Cape Canaveral Space Force Station in Florida as part of its Transporter 6 mission.

“The launch of Crypto2 gives us more availability and more powerful specs to support the growing portfolio of use cases in our development pipeline,” Cryptosat co-founder Yonatan Winetraub wrote in an official post.

Images and video footage of the satellite launch have surfaced on Twitter.

The physical accessibility of the satellites makes them a secure information storage point, which guarantees the confidentiality of sensitive data and calculations, explained the Stanford team.

“Such tamper-proof satellites can serve many use cases including transaction signing, trust configurations for cryptographic schemes, random oracle, temporal oracle (VDF) and more,” the Cryptosat team noted. while reaffirming that no national or international third party interfered in its construction and launch.

In 2022, Cryptosat had completed a test for its Crypto1 satellite on the International Space Station, according to a report by CryptoPotato.

Cryptosat is not the only company to have leveraged space technology to provide bulletproof crypto and blockchain solutions.

SpaceChain, for example, in 2019 sent its technology to be hosted on the International Space Station to authorize and transmit blockchain transactions. Founded in 2017, SpaceChain defines itself as a decentralized space agency that aims to build a blockchain-based satellite network.

As for SpaceX, its association with the Cryptosat is not a total surprise.

Musk, its CEO and strong supporter of the crypto industry, has often said that he would put a Dogecoin on Earth’s moon.

Along with Crypto2, the Falcon 9 rocket was launched with 114 satellites for various operators around the world.

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