Velas Network AG performed a transaction in near-Earth orbit
- July 12, 2022
- 0
The Velas team confirmed the transaction using a node on the space satellite. Velas is the third blockchain to have its own node in space, after Bitcoin and
The Velas team confirmed the transaction using a node on the space satellite. Velas is the third blockchain to have its own node in space, after Bitcoin and Qtum.
The satellite was launched on January 13, 2022. Singapore-based blockchain platform SpaceChain and American aerospace company SpaceX participated in the launch. The device itself was created by the company for data collection and processing in Spire Globe space.
The Velas space node supports transaction processing, interaction with smart contracts, as well as the creation of ERC-20 and ERC-721 (NFT) tokens.
The ground center team sends an unsigned transaction to the satellite, and the node signs it and sends it back. The ground station forwards the transaction to the Velas network, which the validators include in the block.
“SpaceChain is the pioneer of the space economy: the platform combines blockchain infrastructure with future technologies. “The integration of the Velas blockchain into orbit will enable our ecosystem to effectively solve ground-based central infrastructure problems.”
Going forward, SpaceChain and Velas Network AG plan to host a node on the International Space Station.
Velas- eBPF and EVMBlockchain compatible with Delegated Proof-of-Stake consensus algorithm from Swiss company Velas Network AG. Network throughput is more than 50,000 transactions per second.
Recall that Huobi and Bitget previously listed the Velas (VLX) blockchain token. Exchanges have added Velas trading pairs to the Tether (USDT) stablecoin.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
