© Reuters. Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community
In 12 short years, has morphed into one of the world’s most valuable networks. According to trackers, each coin was changing hands at around $30k in late May 2022.
The underlying technology anchoring BTC is based on community and decentralization. It is the latter feature that makes Bitcoin and cryptocurrencies robust and secure.
Bitcoin Nodes in Space
Because of decentralization, Bitcoin and public crypto networks are highly reliable, allowing them to, among other factors, fast-track financial inclusion. It is so much that Bitcoin nodes have been deployed in space.
The idea is to ensure the network is functional even if catastrophic, black swan events on earth paralyze operations, taking down critical infrastructure. Presently, the Blockstream Satellite of Victoria, British Columbia, transmits Bitcoin’s data to the whole of the United States, Africa, the Middle East, and some parts of Europe.
Besides Bitcoin, SpaceChain, another space-centric cryptocurrency project, has also deployed nodes in space via SpaceX’s Falcon 9 rocket.
Space is the Next Frontier for Exploration
These developments cement the importance of space and point to the potential of an emerging sector in space travel.
Space exploration is gaining traction primarily because of advances made by SpaceX and Elon Musk in drastically slashing the cost of rocket launching. By reusing them, there is a significant drop in deployment costs, encouraging more participation.
Nonetheless, even in 2022, space exploration as an individual is a pipe dream because of cost barriers. Each ticket is upwards of $450k. This humongous figure is out of reach for most would-be space travelers.
Introducing the Space Coin Project
The Space Coin Project aims to change this.
They are going back to basics, understanding that the power of community and coalitions is critical in opening up space tourism for…
