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Blockchain Technology Is Making Its Way Up In The Space Industry

Blockchain Technology Is Making Its Way Up In The Space Industry Since its inception, blockchain technology has amassed a huge popularity around the world within a short span of time, as the blockchain is already accepted by many industries, including Banking, Healthcare, Agriculture, Food, Politics, Real Estate, Legal Industry, Security, Government, Rentals & Ride Sharing, …

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Since its inception, blockchain technology has amassed a huge popularity around the world within a short span of time, as the blockchain is already accepted by many industries, including Banking, Healthcare, Agriculture, Food, Politics, Real Estate, Legal Industry, Security, Government, Rentals & Ride Sharing, and Charities & Aid Organizations; and the applying of the blockchain in the space industry is something unique, which many of us could ever think. Much time will be required to acknowledge the direct application of the blockchain in public lives, since the technology is new.

The blockchain provides a distinctive way to store data, the way is

  • a decentralised,
  • distributed,
  • peer-to-peer (P2P),
  • transparent,
  • traceability,
  • self-performing,
  • speed,
  • secure, and
  • tamper-resistant one

There are some promising uses of the blockchain in the space industry. The blockchain application which is used for supply chain can be used in space mining or large space construction projects management, where tracking of any object is possible. With blockchain implementation, energy can be stored and energy production & consumption by space systems can be controlled. Satellites can be used as nodes in the chain, having two types of nodes viz., participating nodes and validating nodes. The main purpose of participating nodes is to store data whilst validating and adding data are the purposes of validating nodes. Receiving and broadcasting data and apps along with storing them are possible in the blockchain network, which will be done by satellites as nodes. The blockchain network of satellites can be used as the infrastructure to store data and perform transactions.
Having job vacancies in satellite communication is possible. The blockchain can be looked upon in launcher and satellite manufacturing companies for tracking and managing the supply chain.

Kaspersky announces blockchain voting system

Blockchain Technology Is Making Its Way Up In The Space Industry

The tokenization of spacecraft and payloads is shown as a great success. The tokenization of spacecraft is an opportunity for different entities to build different components. Institutions such as NASA and ESA can benefit much more transparency and traceability of the blockchain. Tokenization is defined as a process by which physical assets can be digitised and stored on a blockchain database respectively.
Earth can be observed through blockchain applications.
How users share data can be also transparent with blockchain implementation.
The exploration of Space can be commercialized faster and in a more efficient way by means of the blockchain. In the space industry, the blockchain will not be developed, but the wider use of blockchain will also be possible. Cryptocurrency and blockchain have been mostly used in the financial industry. People perhaps know both of them have been also used in the space industry.

Spring Labs Aims To Create Fraud and ID Verification Solutions Using Blockchain Technology

The blockchain company Blockstream launched a satellite called the Blockstream Satellite, whose purpose is to freely broadcast the Bitcoin blockchain around the world all the time. It protects against interruptions in the network. With the satellite, using Bitcoin is possible.
SpaceChain is widely known as the community-based platform, which has used the blockchain in space for security. The company has created the satellite-based blockchain system of SpaceChain that communicates with a satellite with the purpose of performing a transaction, stored in the database. This proved to be a successful mission, considered as strong support for the company. Launching more satellites to communicate with the system is also in its list. A blockchain company called ConsenSys acquired the asteroid mining company Planetary Resources in 2018. The blockchain is predicted to support asteroid mining by means of tokenization.
ConsenSys Space is a subsidiary, which was launched by ConsenSys Space, who launched a blockchain-based database called TruSat by which the orbital position of satellites is monitored. The US Air Force has a public [satellite] database which is decentralized, which helps the satellites to get the in-orbit positions neutrally and without bias.

Although it is now difficult to predict many possible uses of the blockchain due to its emerging nature, the space industry can take advantage of existing applications and financial technology, government satellite communications, and broadcasting & Internet access are some of the existing applications. There is a regulatory issue associated with the blockchain, especially with cryptocurrency and data protection. The clarity is expected to come out soon.

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Blockchain

Axie Infinity Records Holders ATH: 420% Year to Date Growth

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Popular non-fungible token (NFT) gaming platform Axie Infinity continues to see increased adoption from users, following exponential growth in the number of wallet addresses.

Axie Sees Surge in Address Holders

According to data provided by IntoTheBlock on Tuesday (September 28, 2021), Axie Infinity Shards (AXS) ownership is on the rise, with 17,480 address holders. This figure represents a new all-time high (ATH) and a 420% increase year-to-date (YTD). Meanwhile, this growth is indicative of the rising popularity of Axie Infinity and play-to-earn non-fungible token (NFT) gaming.

Back in July, CryptoPotato reported that the value of the AXS token skyrocketed nearly 400% within one month, leading to a market capitalization of over the $1 billion mark. Later in August, AXS was among the assets listed on the major cryptocurrency exchange Coinbase Pro, which also gave it an immediate boost.

Axis Infinity, developed by Sky Mavis and released in 2018, arguably popularised the play-to-earn trend and has recorded a number of impressive milestones in recent times. Data from DappRadar revealed that the project recorded over $2 billion in NFT sales volume, solidifying Axie’s place as the most valuable NFT collection, thereby surpassing major names such as CryptoPunks, Art Blocks, and NBA Top Shot.

The data also showed that more than 600,000 users traded Axis Infinity NFTs, resulting in 4,887,645 transactions. The project currently boasts over 1.5 million daily active users.


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According to Jeff Zirlin, co-founder of Axie Infinity, half of the platform’s users got to interact with cryptocurrency and blockchain for the first time through Axie, while 25% of them did not own a bank account.

The Growth of NFT Gaming

The NFT industry is becoming popular with celebrities, major sports leagues, and companies buying digital art in whatever form, or selling them. However, blockchain-based games are seeing a special kind of attention.

A report by DeFiPrime stated that the NFT Gaming market has a total market valuation of nearly $180 billion as of August 2021, with the value estimated to rise to $196 billion. An excerpt from the report reads:

“NFT games may have the potential to become the standard for the gaming market if it sees enough attention and popularity. Already they have made major changes to games and made it much more fun for players. From there, it could be a very major change to the way people play games and could be as major as Doom was to the market or 3D was for environments.”

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Source: https://cryptopotato.com/axie-infinity-records-holders-ath-420-year-to-date-growth/

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Bitcoin, Ethereum will draw their market strength from this key aspect

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Bitcoin and Ethereum are currently surviving a bearish scare, with both assets just about holding a position above their immediate supports. For Bitcoin, the $41,000-level is establishing a strong bounceback range while Ethereum has managed to remain above $3000.

On the contrary, some altcoins have recorded strong recoveries, with Solana, Bitcoin Cash, and Uniswap hiking by more than 10% in one 24-hour window.

Now, these altcoins seemed to have the relative edge at press time. However, there are a couple of key metrics which may allow us to evaluate the actual strength of Bitcoin, Ethereum as the market goes forward.

How much importance should be given to utility?

Source: Sanbase

Over the past few years, market stability has been dependent on different aspects. During the bullish rally of 2017, investor sentiment was key and when major traders started to become bearish, the digital assets collapsed.

Then, it was constructive institutional inflows at the beginning of 2019. At the time, it was suggested that institutions can allow tokens such as BTC, ETH to hold higher price positions. The price fell in 2020, irrespective of rising interest.

However, one key idea missed by most speculators might be the utility side of things, which is presently one of the most important functionality. Gone are the days when astute marketing allowed assets such as TRON to climb into the top-10.

Now, according to Santiment, Bitcoin has hit a two-month high in terms of circulation. What’s more, if the chart is closely observed, the average BTC transferred has risen consistently over the month of September.

Source: Sanbase

Similarly, Ethereum hit a similar feat but its 1-day circulation index was at a 3-month high, indicative of high token utility and movement.

Ethereum’s price has dropped sharply over the course of the past few weeks, but circulation has remained high.

Bitcoin, Ethereum spaces have evolved

Now, to be fair, it is important to account for volatility and the fact the circulation isn’t as high as it was during May 2021. However, maintaining a development and transaction-intensive ecosystem, one which allows the price to be built on strong foundations, is eventually advantageous.

Now, with respect to the assets that have grown over the past few days, besides BCH, both Solana and Uniswap are extremely utilized tokens. While one is the native token of a major DEX, another asset is currently responsible for bringing better L2 solutions.

Likewise, for Bitcoin and Ethereum, higher utility and circulation should keep the asset relevant, and progressively exhibit significant recoveries over Q4 of 2021.

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Source: https://ambcrypto.com/bitcoin-ethereum-will-draw-their-market-strength-from-this-key-aspect

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app Offering Seamless Crypto Swaps With No KYC Process

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Swaps.app is simplifying how users are converting Bitcoin and other cryptocurrencies by eliminating the current barriers available in the market.

The EU-regulated company is changing how people swap cryptocurrencies for money with its “swap’n’Go” approach. The platform is a user-friendly space that allows anyone around the globe to effort conduct various trading activities.  

Swaps.app has various unique features. The platform notably offers low commissions and a faster transaction experience to its users compared to many other venues in the market.

Swaps.app offers the lowest fees in the industry while at the same time offering the best buying rates. Transactions performed on the Swaps.app employ price execution from top liquidity providers. In turn, this assures that Swaps.app customers get the best price possible for their purchase.

In addition, transactions on the platform take about 3 minutes. This is because there is no Know-Your-Customer (KYC) process and allows transactions to take three minutes to complete. This is a breath of fresh hair since the registration process associated with cryptocurrency exchanges is usually lengthy and cumbersome compared to most. The process has notably caused many people not to engage in cryptocurrency trade. 

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Another notable feature is that coins get to users’ digital wallets within 15 minutes of payment approval. Swaps.app has two currencies available for purchase, including Tether (USDT) and Bitcoin (BTC). Currently, the platform is accepting two payment methods, Visa and MasterCard debit and credit cards. Users can purchase varying amounts of cryptocurrencies up to €1,000 per month.

To merchants and developers, Swaps.app provides a convenient order widget that can be integrated into any webpage with just a few clicks.

In addition to being regulated by the authorities, Swaps.app integrates a full 3-DS V2 for safe and secure transactions. Reportedly, card purchases that use PCI DSS Level 1 certification will be authorized by code and verified by Visa or Mastercard ID Check.

Swaps.app is now available to over 160 plus countries and is available 24/7 throughout the year. The platform is owned and operated by Octo Liquidity, based in Tallinn, Estonia.

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Source: https://zycrypto.com/swaps-app-offering-seamless-crypto-swaps-with-no-kyc-process/

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