Velas Network's space node is now operational

SpaceChain has completed the testing of a space node it created for Velas Network, marking SpaceChain’s successful integration of Velas, the Ethereum Virtual Machine (EVM) Blockchain and open-source platform for decentralised applications, with its payload.

The space node now supports and enables Velas to advance the development and deployment of its Blockchain platform, which aims to be one of the most secure and fastest platforms in the industry. The node can deliver functionality such as transaction signatures, smart contract deployment, decentralised finance (Defi) activities and non-fungible token (NFT) minting with the seamless transaction of the Velas Token (VLX).

The space node was installed onto a low-earth orbit (LEO) satellite designed and manufactured by Spire Global, which managed the launch mission on January 13, 2022. It is independent of terrestrial networks.

“Through this mission, the space node helps Velas’ Blockchain project realise the digital transaction signature service in space, enabling Velas to execute its space services based on this space node,” said Zee Zheng, SpaceChain co-founder and CEO.

“With its independence, physical security in space and as a trusted third party in Blockchain applications, the space node provides impartial third-party reviews, security protection and other functions to further develop Blockchain technology. This implementation improves the credibility and security of its internal system, thereby winning the trust of more market users.”

SpaceChain and Velas are extending their partnership to send another space node to the International Space Station (ISS) later this year. Upon installation and testing, the Velas space node will benefit from the secure and conducive environment provided by the ISS to create more space-based use cases over time.

SpaceChain provides a one-stop business solution and space consultancy ranging from technical support to marketing and partnerships for a wide array of space activities, including launching nodes and enhancing customers’ platform security. It has assisted numerous Blockchain customers to realise their space-based business operations. The company will continue to invest in research and development to help reduce the time required for space node testing, expand application scenarios, and enable more Blockchain companies to harness space as a platform for business innovation.

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