Analysis

Velas Network Blasts off Through Partnership with SpaceChain into the New-Age Space Race

While the house race for humanity started in the mid-Fifties, blockchain expertise took its first steps outdoors Earth in February 2018, and now Elon Musk has declared the begin of the house race in early June 2021. With the current information that SpaceX was going to hold some payload funded by Dogecoin, the latter was more likely to be the first cryptocurrency to succeed in the Moon. Elon Musk’s SpaceX Falcon 9 rocket launched the Transporter 3 rideshare mission with a number of small satellites for presidency and business clients on January thirteenth. It lifted off from Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida, at 10:25 a.m. EST (1525GMT)

Now, Velas Network AG is becoming a member of palms with SpaceChain to faucet house’s potential for higher safety and scalability, particulars from a press launch on January 4, 2022, reveal. According to Velas, a excessive throughput EVM appropriate and carbon-neutral blockchain, the partnership will likely be a constructive step to discover new markets and use circumstances.

The deal with SpaceChain, one in every of the few blockchain corporations extending distributed ledger expertise to serve the underexplored house business, is unprecedented and symbiotic.

SpaceChain is constructing decentralized satellite tv for pc infrastructure to make it simply accessible for the new house economic system value billions. Because of accelerating non-public investments and new enterprise alternatives, the Bank of America predicts the house economic system to succeed in $1.4 trillion in a decade.

Velas Join Forces with SpaceChain

The CEO of Velas, Farkhad Shagulyamov, famous the first milestone reached when the Bitcoin’s transactions have been beamed from house. The Velas Network AG is following swimsuit with its partnership with SpaceChain, opening new horizons for blockchain and its international customers. He is quoted:

“The space race has truly begun and we don’t want to be left behind. Collaborating with SpaceChain on this mission is a bold and historical achievement for Velas. There are boundless possibilities and new opportunities created by the integration of blockchain and space technologies. Velas is one of the first blockchains to engage in this new space race. Velas and SpaceChain aim to integrate their technology on the International Space Station (ISS). Having a node on the ISS is a challenging task as NASA has a rigorous evaluation and approval process. We are confident that both Velas and SpaceChain have the required technical expertise and resources to take blockchain technology to a new level,” stated Farkhad Shagulyamov, Velas co-founder and CEO.

From this deal, the Velas Network will likely be processing its expertise through the SpaceChain decentralized satellite tv for pc infrastructure (DSI), resulting in extra decentralization and higher safety, serving to the community rebuff exterior assaults whereas remaining censorship resistant. The DSI, the improvement workforce stated, is an alliance consortium and a “mesh-network of heterogeneous spacecraft” owned by a number of events working from totally different jurisdictions in low earth orbit.

“We are excited to be part of such significant leaps in the industry. Velas is currently the third blockchain to engage in this space race and we’re happy to work with such a unique partner. SpaceChain’s expertise in these two arenas helps us skyrocket to the future of business operations. We look forward to working closely with SpaceChain to create new solutions and experiences for our users and communities” – Dragos Dumitrascu, Head of Global Partnerships at Velas, stated.

This broad base makes the DSI strong and safe towards stringent rules that will originate from any member’s location. In flip, this broadly advantages blockchains, together with Velas Network, beaming its transactions through the DSI. Meanwhile, SpaceChain would leverage the Velas Network’s excessive throughput of over 75k TPS to launch cost-effective dApps, serving to them make house extra accessible to customers.

Velas in the Spotlight

Earlier in October 2021, Velas elevated its developer grant to $100 million from $5 million, introduced early final 12 months. The mission goals to draw builders of DeFi, NFTs, gaming, and different thrilling dApps on its rail by way of this program. Eligible tasks can obtain as much as $100k in funding.

Applicants should embrace a marketing strategy, a pitch deck, technical particulars of their product, and the way it shall contribute positively to the Velas ecosystem. In flip, profitable tasks would obtain technical and advertising help from the workforce. Through this program, Velas goals to broaden its ecosystem and Web3 attain. DVX Games Studio, a beneficiary, not too long ago launched the Block Attack Game on Velas.

 

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