For the many out there, blockchain and space are two very different areas and seemingly have no connection. Yet, both are more intertwined than we can imagine. Human endeavor in both areas is cutting edge, full of exploration and wonders.
No wonder today blockchain, cryptos and space are fast becoming one. Thanks to one very ambitious Space Coin Project, it is leveraging blockchain and its properties to make space travel cheaper and more affordable than ever.
The Blockchain and Space Connection
The unexplored realms, space and blockchain provide vast areas (physical, digital and financial) that remain untouched. Today, several projects combine these two to offer various innovative services.
Take Blockstream for example. The Bitcoin satellite project uses an array of transceivers thousands of kilometers above the earth that are continually syncing the Bitcoin chain. These satellites also beam down to earth and communicate with each other to stay updated. In case of a black swan event that can cripple most of the miners and nodes ground side, the satellites can keep the network running.
Another innovative approach that connects cryptos and space is DOGE-1, a collaboration between GEC and SpaceX to put a research satellite in the moon’s orbit. What’s so special about it? The whole project is funded through Dogecoin.
Now the Space Coin Project wants to take a different approach.
Space Coin Project: Let’s Put Men in Space
All space and blockchain endeavors have one thing in common. They either leverage space for blockchain or leverage blockchain for space. Space Coin Project is innovative in the approach that it takes to the private space tourism industry. It wants crypto to power tourists into space.
The project isn’t only going to leverage the financial power of cryptos, but also use the complete blockchain aspects, including DeFi and DAO to ensure that it is viable and economical.
The Space Coin Project is going to use its ERC20 compatible SPJ token as the underlying asset that will power the whole system and economy. All token holders will be eligible to take part to become tourists in space. Using the SpaceDAO, token holders can decide on which tourism service to use, how to pool the finances and how to decide who gets to go. Using blockchain means that all decisions are transparent and viewable to all.
At the same time, using blockchain means that the financial decisions are also transparent, giving a fair price mechanism and making space travel affordable.
Token holders can also tap into the DeFi nature of SPJ. Simply holding SPJ tokens in wallets automatically qualifies for staking, giving people not only an increased voting power but potential profits as their SPJ holdings also increase.
Why Space Coin Project?
Today, private space travel is a reality. There are already three private space firms that have put people in the upper regions of the earth’s atmosphere, albeit at a heavy ticket price.
SpaceX recently let people spend three days in space through its Inspiration4 mission. The company has kept the cost per ticket private, but many estimate that it can be as high as $50 million. Virgin’s Spaceplane is considered the cheapest but still carries a whopping $450,000 tag.
With less than 1% of the population who can afford it, the dream of visiting space is still out of the range of ordinary people. The Space Coin Project is making this dream a reality as anyone who takes part in the project, no matter how many SPJ they hold, has a chance to go into space.
Thanks to the Space Coin Project, space is becoming affordable for all.