The Blockchain, this time, in Space
The groups over at Vector and Nexus are teaming up to bring the world of cryptocurrency into space. They believe that they can tackle different aspects of decentralization through escaping government control and improving other user aspects with enhanced, next level technology.
So what exactly are they doing?
Well, they are working to host the world’s first cryptocurrency on a satellite platform in space, adding to the increasing interest in the space economy.
The firm, Vector, which primarily serves as a “nanosatellite launch company” and commands a stellar team of experts from companies like SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch, VMware and other has recently announced their partnership with Nexus to host the world’s first decentralized space cryptocurrency. The two groups will be conducting this launch with the GalacticSky Software-Defined Satellite Platform that the company, Vector, has created.
Where does Nexus fit into the picture?
Nexus will officially be the first company to have the honor of deploying a cryptocurrency on a satellite that orbits the planet earth. The project showcases the use of GalacticSky platform and flexibility it provides for potential users. Furthermore, the partnership will facilitate, the aspect of payments for customers who are interested in future launches. Payments can be made in NXS, the cryptocurrency of Nexus.
A representative of the firm, Colin Cantrell, the founder and lead developer of Nexus, states:
“With Bitcoin’s valuation at an all-time high, people are beginning to accept cryptocurrency as a real form of payment, but there are still problems with storage and ownership.”
The founder of Nexus continued:
“The capabilities provided by the GalacticSky platform, combined with the flexibility of Vector’s launch model, bring us one step closer to accomplishing our mission of providing the world with a decentralized currency that can be accessed virtually anywhere, anytime.”
The developers of the Nexus technology believe that they can offer significant advances in the cryptocurrency sector.
Nexus is incorporating SHA-3 cryptography and 571-bit keys, priming for the future, with quantum oriented safety and defense mechanisms. This means that they can have security that prepares for the threats that one can face in the quantum age.
Another critical aspect that the company is working on is the idea of the 3D chain to allow for a better scaling solution.
By hosting NXS in space through Galactic Sky, Nexus can free itself from being tied to a single nation and can create a more decentralized financial ecosystem.
This aligns with their mission:
“To free humankind from centralized systems. Merely being decentralized is not enough. We must decentralize the decentralization. Using software and hardware, Nexus seeks to build the foundation for the most decentralized system to ever be developed: Nexus Earth.”
Their mission makes an additional crucial point that is line with what founders from other projects like Kin has said:
“This network will empower everyone from the first world to the third world. Not everyone has money, but everyone has time.”
The founders of Nexus are looking to tackle fundamental aspects of the internet, allowing for decentralization.
They are seeking to conduct this through the aspect of satellites.
Satellite virtualization utilization via GalacticSky, allows Nexus to spread their blockchain across many satellites, giving their blockchain and increased aspect of reliability and performance. Their cryptocurrency is supposed to be secure and a decentralized peer – to – peer network, providing users with more freedom and transactional transparency in their access worldwide access to financial services.
Hosting Nexus cryptocurrency on Vector’s software-defined satellite, allows Nexus to demonstrate their versatility for innovation which can be hosted on the GalacticSky platform.
Investors and Value
Investors see value in the company as its tokens are currently trading at $3.23 USD, with a market cap of $176,735,379 USD and a circulating supply of 54,771,607 NXS.
The tokens remained flat over the year of 2015, then started growing in 2016 and continued to rise in price in 2017.
The mission of GalacticSky
GalacticSky’s mission is to provide unprecedented access to entrepreneurs and space innovators, and the platform’s additional level of reliability and scalability makes it a natural fit for cryptocurrency applications. Vector’s first deployment of NXS is expected to take place in 2019.
The representative from the company, Jim Cantrell, CEO and co-founder of Vector, states:
“Over the last year, we’ve made many advancements in order to solidify our standing as a leading nanosatellite launch company. Housing Nexus’ cryptocurrency on our GalacticSky platform not only validates our proof of concept, but demonstrates how prolific this opportunity is for startups looking to innovate in space without the need to build their own satellite.”
Vector strives to revolutionize the commercial space industry by increasing accessibility for entrepreneurs and space innovators.
This partnership with Nexus is the second announcement from Vector’s GalacticSky division.
Earlier this year, GalacticSky and Citrix partnered to bring advanced datacenter and cloud virtualization technology into space for the first time. Vector also recently announced the opening of its Silicon Valley headquarters, led by Chief Sales and Marketing Officer Shaun Coleman, to further the development of the GalacticSky division.
More activity by Vector
Vector also announced a partnership Astro Digital to conduct a dedicated launch in 2018 featuring one of Astro Digital’s satellites. Vector has begun production of the first orbital vehicle and will break ground on a brand-new launch vehicle manufacturing facility in Pima County, Ariz. next year to ramp-up production.
Founded by the original founding team of SpaceX, Vector is a disruptive company that connects space startups and innovators with dedicated, affordable and reliable launch services, enabling platforms and vehicles to access space efficiently and in a more optimized way than ever before possible.
Nexus is an innovative open source blockchain technology, designed to better the world through advanced peer to peer networks and digital currency. With the world’s first 3D Chain Nexus solves the current challenges of speed and scalability in the cryptocurrency industry. Nexus is one of the most secure blockchains in existence and provides world-class quantum security by using more extensive and more elaborate hashes together in a Merkle Tree to create unalterable secured transactions. The future of Nexus combines satellites, ground-based mesh networks, and blockchain technology to facilitate the formation of a decentralized internet.
Nexus empowers people to take control of their financial freedom and help humanity in the process.