Nobody uses Qtum (QTUM) on Earth, so they are trying their luck in the outer space

The decentralized smart contract platform Qtum, in association with the company SpaceChain, has officially launched its second Blockchain node with the aim of allowing users to perform multiple signature transactions and execute smart contracts via satellite, as reported last November 13 by CryptoNews.

The device was launched at the Xinzhou Launch Center rocket launch base in China in October this year, but it was only this week that it was confirmed that it had entered the planned orbit coordinates without any inconvenience.

The launch of the satellite, which is monitored from the ground, allowed the first operations on Blockchain to be carried out smoothly.

According to CryptoNews, the node is incorporated into “a cube outside the ring of the CZ-AB spacecraft.

Similarly, the space platform has a SpaceChain OS payload built in. This payload makes it possible to process all operations performed on the satellite to the Qtum blockchain.

In this sense, the company verified that the hardware and software incorporated were maintained in operation at the time of entering orbit, an objective that, according to the statement, has been achieved in the simplest functions of Qtum, but in this case will be subjected to much more complex processes.

In view of this launch, Qtum already has two nodes of its Blockchain in space in just one year. More than 6 months ago, in February specifically, the platform had officially launched its first node in space. This event allowed the company to gain experience so that this second project could go ahead in an optimal way.

Despite this, Qtum is not the only company blockchain that has marked its borders beyond the blue sky. Last year, the Blockstream crypto company also launched its own satellite to process Bitcoin transactions from the orbit.

Some may be surprised that Blockchain technology has gone so far as to put satellites in space, but the truth is that some companies have already made enough money to make this kind of investment.

As technology advances, it is likely that within a few years it will be one of the most sought-after markets in the world, just as the Artificial Intelligence market is expected to exceed $20 billion by 2021.

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Damian Booker
Damian Booker

First thing to know about Damian is - he HATES shitcoins and has declared a war on them! Damian is a bitcoin hodler since early 2013. He used to mine Ethereum back in the day as well. Nowadays he likes to discuss bitcoin and its potential influence on the society organisation and governance. Damian hates fraudulent projects and his mission is to shed light on the maggoty scammers that have invaded the crypto space with their zero-value projects.

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