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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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Litecoin Price Analysis: 22 January

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Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The Bitcoin market registered an important price drop recently, one wherein the value of the digital asset dipped briefly under $30k on the charts. Although the cryptocurrency’s value later bounced back above the $30k-level, the said drop in price also contributed to major altcoins like Litecoin plunging on the charts.

Litecoin briefly breached the support at $125, following which it managed to recover from its sudden fall on the charts. At the time of writing, Litecoin was valued at $137.27, with the cryptocurrency trading close to its immediate resistance levels.

Litecoin one-hour chart

Source: LTCUSD on TradingView

From the attached chart, Litecoin’s price can be seen falling within a descending channel and hitting a low of $121.97. This low was followed by an immediate retracement as the market tried to stabilize. In fact, later, the price of the digital silver immediately pushed higher, which was why LTC was trading above $130, at press time.

Given the aforementioned drop, the digital asset may breach the resistance at $138 and be priced higher on the charts.

Reasoning

The 50 moving average moved above the price bars and acted as a resistance level for the price of LTC. The said fall pushed LTC into the oversold zone, with Bitcoin’s own depreciation on the charts contributing to growing selling pressure. However, as the price recovered, the Relative Strength Index also moved into the equilibrium zone. As this level looked like a consolidating range for LTC’s price, the emergence of bullish pressure may push it higher on the price scale.

Further, the Awesome Oscillator highlighted the momentum shifting towards the sellers’ side. The AO dipped under zero a couple of days back, and a short position of traders must have realized here as the market went on a downtrend. With the downtrend sustaining itself, all momentum in the market was lost.

Crucial levels to look out for

Entry: $138.03
Stop-Loss: $134.73
Take-Profit: $144.88
Risk-to-Reward: 2.39

Conclusion

The press time price level looked like a consolidating level for Litecoin. However, a northbound push for the digital asset may result in traders benefiting from a long position as they realize a profit at $144.88.

Source: https://ambcrypto.com/litecoin-price-analysis-22-january

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VanEck files for a ‘Digital Asset ETF’ with the SEC

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According to a filing published today by the United States’ Securities and Exchange Commission, New York-based investment management firm VanEck intends to launch a Digital Assets ETF, one that will track as closely as possible, before fees and expenses, “the price and yield performance of the MVIS® Global Digital Assets Equity Index.”

The fund will invest in companies that generate at least 50% of their revenue from digital asset projects, or developing projects that have the potential to generate half of their revenue from the digital assets industry.

It should be noted, however, that the term “digital asset industry” is by and large a broad terminology for companies that operate digital asset exchanges, payment gateways, mining operations, software services, equipment, and technology. This may well mean that there is potential for companies like Coinbase to be included in the fund after a successful IPO.

The SEC filing also notes that this fund will invest in companies that hold a significant amount of digital assets on their balance sheets. This suggests that companies like MicroStrategy may be a part of its portfolio, considering its own billion-dollar Bitcoin holdings.

The New York-based investment firm isn’t a stranger to SEC filings. VanEck had previously submitted applications for Bitcoin-based ETFs with the SEC, with a majority of them being rejected by the regulatory agency for a host of reasons.

On the contrary, back in September 2019, VanEck withdrew its application for a Bitcoin ETF. Interestingly, the verdict on its most recent application for an ETF, titled “VANECK BITCOIN TRUST” is still undecided.

If the development comes to pass, it will be a huge step, especially since the said offering will be launching in a country where regulatory agencies have often been seen with a suspicious eye. In Europe, on the other hand, crypto-ETPs surpassed a billion Euros in assets in 2020, despite a regulatory ban on selling these products to retail investors in the U.K.

While a crypto-ETF is still yet to be officially approved in the U.S, many investment advisors have cited concerns saying that without a crypto exchange-traded fund, there is little incentive for registered investment advisors to put clients’ cash into crypto.

Source: https://ambcrypto.com/vaneck-files-for-a-digital-asset-etf-with-the-sec

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Stellar Lumens, Steem, Maker Price Analysis: 22 January

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Stellar Lumens registered significant losses recently. However, since a lot of the asset wasn’t sold on the market, XLM could see some upside in the next day or two. STEEM also showed signs that it was poised for a bounce while Maker slipped under a triangle pattern and could move towards $1000 on the price charts.

Stellar Lumens [XLM]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: XLM/USD on TradingView

While Stellar Lumens did not show strength in the market with regard to its price, there was reason to believe that XLM was heading back towards the range high at $0.31. The trading volume was low over the past few days, and the OBV showed that there was not a significant volume of XLM sold over the past few sessions, despite strong losses.

The range lows at $0.223 offered some pushback and at the time of writing, XLM was trading under the mid-point of the range at $0.264.

While the momentum seemed bearish, rising above the mid-point and defending that level will be a reason to conclude that XLM is likely to move towards $0.31 once more.

Steem [STEEM]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: STEEM/USDT on TradingView

STEEM registered a local high at $0.22 earlier this month and set a lower high at $0.211 a few days ago. Since then, it has faced strong selling pressure, with the crypto trading at $0.177, at the time of writing.

It saw a candlewick below the $0.168-support level, but that was quickly bought up. The RSI registered a value of 38, indicating bearish momentum. Further, the Stochastic RSI was deep within the oversold territory.

Combined with the buying pressure that drove the price all the way up from the wick to $0.164, it could be that STEEM is poised to attempt a bounce to the $0.185-$0.19 region. The reaction there will set its next direction.

Maker [MKR]

Stellar Lumens, Steem, Maker Price Analysis: 22 January

Source: MKR/USDT on TradingView

The MACD was steadily falling further into bearish territory after MKR closed under a symmetrical triangle pattern and re-tested the $1400-level as resistance. The Directional Movement Index also showed that the -DMI (pink) and ADX (yellow) were both climbing past 20 on the charts to show that a strong downtrend was in progress.

The 38.2% level at $1200 could offer support to MKR, should it flip the level to support in the coming hours. Further downside for Bitcoin towards $27.7k will likely see MKR move towards $1000 as well.

Source: https://ambcrypto.com/stellar-lumens-steem-maker-price-analysis-22-january

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