Nexus Inc. introduces Ethereum blockchain network in Space

A deep-tech digital asset management company Nexus Inc. executes and develops Internet of Things-centered solutions for institutions and online platforms globally. The company is delighted to announce the launch of the world’s first Ethereum blockchain network onboard the International Space Station. Its only aim is to provide customers with ultra-secure crypto transactions against worldly hackers.

Today, SpaceChain announced that its blockchain-enabled payload has been introduced into space from NASA’s Kennedy Space Center on-board a SpaceX Falcon 9 rocket. It will be later on installed at the International Space Station (ISS). Made possible by Nanoracks and its Space Act Agreement with NASA, the mission marks SpaceChain’s 4th blockchain payload launch into space and the 1st demonstration of ETH tech integration into its hardware on ISS. Nexus Inc. will be the 1st SpaceChain customer to have direct access to this service.

Engaging the mechanism of two out of three multisignature keys will make sure that if one authentication key is shared, the fund’s transaction remains secure and safe. Also, Nexus’s blockchain payload curbs no more than 100 transactions per transmission. It further increases already existing several security layers.

CEO and co-founder of SpaceChain, Zee Zheng told that they are thrilled in launching the Ethereum platform to space and validating why a decentralized satellite infrastructure created with space tech is important in realizing the full potential of a blockchain app. He continued that they introduced a payload for Bitcoin earlier in 2019 and today they are introducing their second-generation payload with Ethereum.

He further added Ethereum and Bitcoin represent the 2 biggest ecosystems in the blockchain sector. Ethereum’s smart contract platform running in outer space enables them to strengthen blockchain transactions and apps with improved immutability and security. It allows more developers and users to get involved with their technology.

Author: Diksha Khiatani

A writer by day and a reader at night. Emerging from an Engineering background, Diksha is a travel freak and anxious to explore different cultures and religions. Inclined towards the off-beat places, she wishes to uncover the secrets on her Scooty (if possible). She always grabs some time to take a quick nap, listen to music, skating and eat a brownie.

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