{"id":16084,"date":"2023-01-03T22:13:43","date_gmt":"2023-01-03T22:13:43","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/cryptosat-launches-second-cryptographically-equipped-satellite-using-spacex-rocket\/"},"modified":"2023-01-03T22:13:45","modified_gmt":"2023-01-03T22:13:45","slug":"cryptosat-launches-second-cryptographically-equipped-satellite-using-spacex-rocket","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/cryptosat-launches-second-cryptographically-equipped-satellite-using-spacex-rocket\/","title":{"rendered":"Cryptosat launches second \u2018cryptographically-equipped\u2019 satellite using SpaceX rocket"},"content":{"rendered":"
\n

The company behind a crypto-satellite module launched in May has announced that an additional piece of its blockchain-related infrastructure went into Earth orbit.<\/p>\n

According to an announcement, one of SpaceX\u2019s Falcon 9 launch vehicles carried a \u201ccryptographically-equipped\u201d Cryptosat satellite \u2014 called Crypto2 \u2014 into orbit on Jan. 3. The addition of Crypto2 to the firm\u2019s satellite constellation was part of efforts to make space a \u201cnew battleground in the quest for bulletproof cryptography\u201d by expanding its computational power. <\/p>\n

\u201cThe launch of Crypto2 gives us more availability and more powerful spec to support the growing portfolio of use cases in our development pipeline,\u201d said Cryptosat co-founder Yonatan Winetraub.<\/p>\n

Speaking to Cointelegraph, Winetraub said some of the use cases the firm was exploring with the satellites include data encrypted to a public key and retrieving a signed timestamp for applications like smart contracts. In addition, the satellite is capable of generating a cryptographic key pair and releasing a private key after a given amount of time in an effort to prevent \u201cpremature decryption.\u201d<\/p>\n

SpaceX launched the module as part of its Transporter 6 mission, which lifted off from Cape Canaveral Space Force Station at 2:56 pm UTC on Jan. 3. In addition to the Cryptosat payload, the Falcon 9 rocket carried 114 satellites into orbit for various operators worldwide.<\/p>\n

SpaceX\u00a0Transporter-6 Mission launch on Jan. 3. Source: YouTube<\/em><\/figcaption><\/figure>\n

Cointelegraph reported in May that the Crypto1 \u2014 the first satellite Cryptosat launched \u2014 aimed to facilitate blockchain applications by providing a physically unreachable, tamper-proof platform. The technology behind the satellite had been previously trialed on the International Space Station, or ISS.<\/p>\n

\u201cThere\u2019s a lot of need for this,\u201d said Cryptosat co-founder Yan Michalevsky in May. \u201cIf we\u2019re looking into protocols, especially in Web3, there are whole financial systems and smart contract systems, kind of digital legal agreements that depend on the trustworthiness of the cryptography behind it.\u201d<\/p>\n

Related: <\/em><\/strong>Bitcoin in space is good for user privacy, says Adam Back<\/em><\/strong><\/p>\n

Other private crypto firms, including SpaceChain and Blockstream, have turned to space as an alternative solution for blockchain validation, multisignature wallets and verifiable time-delay functions. In 2019, SpaceChain sent tech to the ISS aimed at demonstrating the receipt, authorization and retransmission of blockchain-based transactions. Similarly, a crypto user in Brazil used Blockstream\u2019s satellite network to establish a Bitcoin (BTC) node in Earth orbit. <\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The company behind a crypto-satellite module launched in May has announced that an additional piece of its blockchain-related infrastructure went into Earth orbit. According to an announcement, one of SpaceX\u2019s Falcon 9 launch vehicles carried a \u201ccryptographically-equipped\u201d Cryptosat satellite \u2014 called Crypto2 \u2014 into orbit on Jan. 3. The addition of Crypto2 to the firm\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":16085,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-16084","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"\nCryptosat launches second \u2018cryptographically-equipped\u2019 satellite using SpaceX rocket | NFT & Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/cryptosat-launches-second-cryptographically-equipped-satellite-using-spacex-rocket\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cryptosat launches second \u2018cryptographically-equipped\u2019 satellite using SpaceX rocket | NFT & Crypto News\" \/>\n<meta property=\"og:description\" content=\"The company behind a crypto-satellite module launched in May has announced that an additional piece of its blockchain-related infrastructure went into Earth orbit. According to an announcement, one of SpaceX\u2019s Falcon 9 launch vehicles carried a \u201ccryptographically-equipped\u201d Cryptosat satellite \u2014 called Crypto2 \u2014 into orbit on Jan. 3. 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