SpaceChain is the First company which executed a Multisignature Blockchain Transaction in Space

SpaceChain is the First company which executed a Multisignature Blockchain Transaction in Space

SpaceChain is celebrating a significant milestone today with its first Multisignature Blockchain Transaction in Space.

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18 Aug 2020 , 11:01 @ Katie Müller

SpaceChain is the First company which executed a Multisignature Blockchain Transaction in Space

SpaceChain is celebrating a significant milestone today with its First Multisignature Blockchain Transaction in Space, informs the press release.

SpaceChain UK is the company that is building the world’s first open-source blockchain-based satellite network and these days has completed its first blockchain transaction in space. This significant move was also supported by the European Space Agency (ESA) and the transaction was carried out by SpaceChain co-founder and CTO Jeff Garzik.

Already in December 2019, the company launched a test center for blockchain multisignature authentication service to the International Space Station (ISS) aboard and SpaceX Falcon 9 rocket via Nanoracks.

Jeff Garzik, SpaceChain co-founder and CTO said:

Executing the multisignature transaction in space encapsulates our continuous efforts in building out an open-source blockchain-based satellite network that is secure and immutable,

SpaceChain aims to be the one-stop solutions provider for the integration of blockchain and space. As we continue to identify more use cases for blockchain-based satellite networks in space, we hope to bring blockchain to mass adoption.

The transaction was made possible by blockchain hardware installed on the ISS – a powerful onboard computer supplied by GomSpace that was designed for state-of-the-art data processing.

Read also: In response to COVID-19, Asia is investing more and more in Blockchain

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