Qtum (QTUM), in collaboration with the SpaceChain Foundation, has put into Earth’s orbit the second node of its blockchain, which will allow multiple signature transactions and execute smart contracts directly from a satellite in space. The device was launched from the Taiyuan Satellite Launch Center in China’s Xinzhou Province in October.
However, only a few days ago the company confirmed that its satellite entered the designated orbit without any problems, allowing the first transactions to be carried out without setbacks and monitoring its orbit around the planet. The node is incorporated in a cube on the outside of the CZ-AB spacecraft’s ring.
Also, according to data from the Qtum (QTUM) press release, the satellite brings with it a SpaceChain OS operating system payload, which will allow processing all the operations performed from this satellite in the Qtum blockchain. The launchers verified that the incorporated hardware and software would remain operational at the time of entry into orbit, an objective that has been achieved in Qtum’s simpler functions – such as performing transactions – but that will be subjected to much more complex tests.
Qtum (QTUM) Launched Its Second Blockchain Node In Earth’s Orbit
In addition to Qtum (QTUM) and SpaceChain, the Chinese companies Tibet Zezheng Information Technology and Beijing Xinhua Science and Technology also participated in the launch. Similarly, in the social networks, users suggested that the government of China also must have been involved in the launch since it required an approval.
Thanks to this recent launch, Qtum (QTUM) already has two nodes of its blockchain orbiting in space in just one year. Last February, the platform had celebrated the launch of its first node, an event that has given it experience in the middle.
However, Qtum (QTUM) is not the only blockchain initiative that has reached Earth’s orbit, as the exchange house Blockstream also decided to launch its own satellite to process Bitcoin (BTC) transactions around the world, in a project undertaken since August 2017.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.