Bitcoin Nanosatellites Could Orbit Earth in 2016
An ambitious plan to launch bitcoin-enabled microsatellites has taken a step forward with a new business deal. Dunvegan Space Systems, a startup led by bitcoin core developer Jeff Garzik has signed a manufacturing contract with Deep Space Industries (DSI) that will find it constructing 24 nanosatellites for its proposed BitSat program. The BitSat cluster will act as space-bound bitcoin nodes and is the first of a planned series of nanosatellites. Additional BitSats will be available for purchase at $1m apiece, according to the company. Garzik told CoinDesk the launch phase of the project....
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Source: NASA (not actual cubesat). Jeff Garzik, a core bitcoin developer, is looking to launch some small-sized satellites into orbit that will work as Bitcoin nodes, according to CoinDesk. These satellites (also known as cubesats), about 10cm wide on all of its sides, would effectively be launched with larger payloads, so as to not cost hundred of millions of dollars. So how much would it cost? According to Garzik, about $2 million. In orbit, the nodes would serve as additional nodes to the many that already exist on Earth. So it is worth it? Perhaps that's up to Garzik to decide. It's....
Late last year, we heard the first plans from bitcoin core developer Jeff Garzik to launch bitcoin mini-satellites into space. Today, we're getting a little more information on the project. Apparently, Mr. Garzik's Dunvegan Space Systems has formed a partnership with Deep Space Industries to built tiny "BitSats" that will broadcast the block chain from earth orbit. The plan? Offer redundancy to the bitcoin network in the event something catastrophic happens down on earth. Smart, don't you think? The plan is still very much coming together, but the idea is to build CubeSats that measure 10....
One of the biggest misconceptions is Bitcoin is somehow not secure. Critics will point out that exchange failures are some inherent weaknesses in Bitcoin, and that it cannot be trusted as currency. Advocates point out that Bitcoin theft is very low when people manage their own Bitcoins, as creator Satoshi Nakamoto intended. Now, a true innovation is taking Bitcoin into an orbit near you. BitSat can handle Bitcoin's Block Chain in Space. BitSat is the brainchild of Jeff Garzik, founder of Dunvegan Space Systems that will enhance Bitcoin's transactional security, plus the digital currencies....
The small satellite no bigger than a coffee mug is made from off-the-shelf parts and can be a tamperproof platform to secure blockchains and other Web3 protocols. If all goes to plan Wednesday’s SpaceX rocket launch in Florida will blast a “crypto-satellite” into low Earth orbit, paving the way for secure blockchain-related cryptography in spaceCryptosat, as the name hints, is the company which created “Crypto1”, a crypto-satellite module hitching a ride aboard a Falcon 9 rocket for SpaceX’s Transporter 5 mission. The blockchain satellite technology has already been trialled on the....
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