Vector, Nexus Join the Space Race With Plans for Satellite-Based Blockchain Network
According to the programmers, Nexus technology provides improvements over present blockchain systems such as Bitcoin and Ethereum. By way of instance, Nexus includes SHA-3 cryptography using 571-bit keys, which is thought to provide “quantum safety” against potential attacks according to next-generation computers. Nexus is also creating a “3D Chain” (3DC) to deal with existing challenges of speed and scalability from the cryptocurrency market.
“The future of Nexus unites satellites, ground-based net networks, and blockchain technologies to ease the creation of a decentralized net,” notes the combined media release. “Nexus is constructing the base to broadcast the blockchain and Nexus Network in distance,” provides the Nexus site. Basing the Nexus cryptocurrency in the area may, according to the programmers, shield it from interference from corporations and governments.
“With Bitcoin’s evaluation for an all-time high, people are starting to take cryptocurrency as a true form of payment, but there are still problems with storage and possession,” Colin Cantrell, creator and lead core developer of Nexus, said in a statement. “The capabilities offered by the GalacticSky platform, combined with the flexibility of Vector’s launch model, bring us one step closer to accomplishing our mission of offering the world using a decentralized currency that could be accessed almost anywhere, anytime”
While the Nexus cryptocurrency is not directly related to decentralizing the world wide web, its future infrastructure, based on satellites and mesh networks, is.
Vector’s GalacticSky platform, launched in 2016, is a “satellite virtualization system” that provides customers the possibility to test new distance applications with satellites already in orbit, before committing to the costly procedure of designing and launching their own satellites. GalacticSky customers will be able to reconfigure existing microsatellites dynamically and in near real-time, just like software-defined radio programs. In fact, Vector clarifies GalacticSky as a software-defined satellite platform. Launched to create affordable launch capacities and in-orbit platforms for its micro-spacecraft sector, Vector has been described as a sexy space startup and a potential SpaceX competitor.
“Over the past year, we have made many improvements to be able to solidify our reputation as a top nanosatellite launching firm,” explained Vector co-founder and CEO Jim Cantrell, ” the daddy of Nexus’s Colin Cantrell. “Housing Nexus'[s] cryptocurrency on our GalacticSky system not only reinforces our proof of concept but shows how successful this opportunity is for startups seeking to innovate in distance without needing to construct their own satellite”
Jim Cantrell was on the founding group of Elon Musk’s SpaceX and Moon Express, the first private business to try to land on the lunar surface. Before this season, Vector and Citrix partnered to deliver data center and cloud virtualization technologies into the area.
The ambitious aims of Vector and Nexus could be contrasted to this Blockstream Satellite service, which broadcasts real-time Bitcoin blockchain information from satellites in space. A significant distinction is that Blockstream does not operate satellites but utilizes existing industrial tanks as relays.
An even more significant distinction is that, together with all the newest initiative, the independent and new Nexus cryptocurrency will probably be really based in distance, running to a blockchain dispersed across around multiple satellites. Thus, according to the joint media release, “Nexus is no more tied into a nation-state and will make the backbone for a more decentralized fiscal ecosystem”