People could soon be sending bitcoin or other cryptocurrencies to space. The European Space Agency has awarded blockchain startup SpaceChain with a 60 thousand euro grant. The blockchain company will investigate use-cases for their satellite-based blockchain wallet system. This is part of the space agency’s Kick-start Activity Program to motivate companies to develop business potential using space assets and data.
SpaceChain’s satellite blockchain technology brings more security to the transmission of digital currencies and smart contracts by using a distributed satellite network and multi-signature transactions. Until now SpaceChain has developed an open-source operating system, and launched two blockchain nodes into space in the past 12 months. Earlier this year they did their first blockchain transmission in space.
SpaceChain is a community-based space platform that combines space and blockchain technologies to build an open-source blockchain-based satellite network. This network allows users to develop and run decentralized applications that also work in space.
Still low volumes for decentralized apps
Despite the low number of users per dApp, we are talking about a big numbers in terms of money. Gambling app WINk on the Tron blockchain had 7.3 million dollars in trading volume in the past 24 hours. According to DappRadar almost the entire Top 50 apps in trading volume are about gambling or financial services. The only game is on the fiftieth spot, and is called Gods Unchained. This battle card game did $26.700 in volume in the past 24 hours.
Also published on Medium.