XYO Network has partnered with SpaceX to launch the world’s first blockchain-based spacecraft into orbit. EtherX, the spacecraft to be launched under the Spaceflight mission of SpaceX is the first step in achieving truly decentralized infrastructure. Currently, the world depends on the centralised Global Positioning System (GPS) for navigational purposes which is owned and operated by the U.S Air Force.
XYO Network Co-Founder Scott Scheper commented, “Speaking personally, Ethereum inspired me to go from a long-time blockchain observer to going ‘all in’. My work is now 100 per cent focused on blockchain technologies. What the Ethereum developer community and Vitalik Buterin have built, has moved the entire ecosystem forward, period. As an ode to Ethereum and Vitalik, we decided to name our first satellite the ‘EtherX.’”
XYO Network has planned to send a fleet of satellites and EtherX is the only first of them. The firm will launch more satellites named after leading cryptographers and individuals related to blockchain industry in future. XYO Network will enable the global blockchain community of ‘Geohackers’ to participate in the launch by purchasing a stake in each satellite.
“We’re pleased to provide launch services to XYO Network on an upcoming SpaceX mission,” noted Melissa Wuerl, vice president of business development at Spaceflight. “Our business is based on helping innovative, visionary companies get to space and we’re looking forward to assisting XYO Network to execute their business plan.”
Earlier, the blockchain firm gained attention from crypto enthusiasts for executing a successful geospatial blockchain contract using a drone at its inaugural Spatial Summit in front of 700 spectators. The company launched a fully functional XYO MainNet, called “WinterNet”, which became the world’s first Geospatial Blockchain platform.