HBAR Goes to Space! SpaceX and Hedera to Pioneer Satellite Payment Networks
Hedera Hashgraph could be powering SpaceX to space after multiple key figures confirmed a groundbreaking partnership with Elon Musk’s company. Hedera’s ability to process trillions of transactions per second...
- Hedera Hashgraph could be powering SpaceX to space after multiple key figures confirmed a groundbreaking partnership with Elon Musk’s company.
- Hedera’s ability to process trillions of transactions per second and track space traffic was part of the several reasons for its consideration.
Hedera Hashgraph (HBAR) could soon go into space as a renowned crypto investor and expert discloses a groundbreaking partnership with SpaceX. According to Shawn, Hedera would be primarily responsible for facilitating crypto transactions in space. Meanwhile, this could mark a huge breakthrough for satellite-to-satellite payment networks while subjecting transactions across Earth and space to a significant transformation.
🚨BREAKING: SpaceX is sending a satellite powered by HBAR to space this January after NASA research paper on Hedera 🛰️
After Hedera’s partner in the @DeRecAlliance, Cardano founder @IOHK_Charles visited @elonmusk’s SpaceX HQ in Hawthorne yesterday, it was announced on Swiss 🇨🇭… pic.twitter.com/1nTNOGoEiA
— Shawn (@oroogle) November 15, 2024
Why Hedera?
According to experts, Hedera provides cutting-edge solutions to all the challenges of the previous blockchain technologies. Explaining this in a blog post authored by Shawn in 2023, it was disclosed that Hedera can facilitate trillions of transactions per second. Comparatively, Ethereum can only manage 12-15 transactions per second. Meanwhile, Hedera executes these levels of operation while consuming 970.000.000 less energy than Ethereum.
Explaining the application of Hashgraph in space, Shawn highlighted five key use cases in his post.
Secure Satellite Communication and Payment Networks
According to Shawn, SpaceX’s Starlink has issues with making uncensored, fast, and secure internet connectivity worldwide. This has been a challenge since its internet access depends on the server infrastructure on Earth. In this case, a targeted attack on the data centers or global nuclear fallout could render this infrastructure useless. Fascinatingly, the use of Hashgraph technology alongside Starlink, according to Shawn, could put these disruptions under control.
Tokenization of Resources from Asteroid Mining
Shawn also argued that asteroids could be tokenized on Hashgraph with the extraction of the resources financed by people globally.
Space Supply Chain Management
Hashgraph is also reported to possess the ability to enable companies to monitor the carbon emissions of their supply chain. In addition to that, they can keep progress in every step of their production of a rocket from start to finish.
Tracking & Management of Space Traffic
According to the report, Hashgraph possesses unique qualities for managing space traffic. Seven of these features listed by Shawn are:
- Real-Time Monitoring and Coordination
- Decentralization
- Consensus and security
- Efficiency and scalability
- Interoperability
- Smart contract for automated responses
- Data integrity and transparency.
Smart Contracts for Autonomous Spacecraft and Space Vehicles
The combination of artificial intelligence and Hedera is reported to enable spacecraft and space vehicles to autonomously make decisions. Fascinatingly, this is said to be done by executing different predefined scenarios without necessarily minimizing human errors.
Smart contracts can be programmed with logic that allows spacecraft to make decisions based on real-time data. For example, if a satellite detects an obstacle or another satellite on a collision course, the smart contract can automatically execute maneuvers to avoid a collision without the need for ground intervention.
According to our investigation, the movement of Hedera to space has also been confirmed by the CEO of WISeKey Carlos Creus Moreira.
In his announcement on X, Moreira disclosed that this groundbreaking mission would redefine innovation.
World-first: testing the exchange of SEALCOIN directly from space as a proof of concept. This is a major leap forward in secure satellite communication and blockchain integration with Hedera Hashgraph, paving the way for the future of space-based digital cryptocurrency transactions.
Meanwhile, CNF has also reported that Cardano could be embarking on a partnership journey with SpaceX with the co-founder Charles Hoskinson recently dropping a teaser on X.
At press time, HBAR was trading at $0.085 after surging by 21% in the last 24 hours.
https://twitter.com/CreusMoreira/status/1857365112832598121?ref_src=twsrc%5Etfw
Recommended for you:
This article is provided for informational purposes only and is not intended as investment advice. The content does not constitute a recommendation to buy, sell, or hold any securities or financial instruments. Readers should conduct their own research and consult with financial advisors before making investment decisions. The information presented may not be current and could become outdated.
John is a seasoned cryptocurrency and blockchain writer and researcher, boasting an extensive track record of years immersed in the ever-evolving digital frontier. With a profound interest in the dynamic landscape of emerging startups, tokens, and the intricate interplay of demand and supply within the crypto realm, John brings a wealth of knowledge to the table. His academic background is marked by a Bachelor's degree in Geography and Economics, a unique blend that has equipped him with a multifaceted perspective. This diverse educational foundation allows John to dissect the geographical and economic factors influencing the cryptocurrency market, offering insights that go beyond the surface. John's dedication to the crypto and blockchain space is not merely professional but also personal, as he possesses a genuine passion for the technologies that underpin this revolutionary industry. With his astute research skills and commitment to staying at the forefront of industry trends, John is a trusted voice in the world of cryptocurrencies, helping readers navigate the complex and rapidly changing terrain of digital assets and blockchain innovation. John Kiguru is an accomplished editor with a strong affinity for all things blockchain and crypto. Leveraging his editorial expertise, he brings clarity and coherence to complex topics within the decentralized technology sphere. With a meticulous approach, John refines and enhances content, ensuring that each piece resonates with the audience. John earned his Bachelor's degree in Business, Management, Marketing, and Related Support Services from the University of Nairobi. His academic background enriches his ability to grasp and communicate intricate concepts within the blockchain and cryptocurrency space. Business Email: [email protected] Phone: +49 160 92211628
Cardano Catalyst Project - Discover and Vote for our proposals in Fund 13 by December 12, 2024 11:00 UTC
If you are you using your ADA to vote in Cardano’s Project Catalyst don’t forget to voice your vote. We would be excited if you can see, comment, share and vote for us. Cast your vote today, find our proposals by searching "CardanoFeed" in the Voting App.Vote for Us