SapceChain Has Completed the First Multisignature Blockchain Transaction in Space, Moving To Build Blockchain Nodes on Satellites

In an August 18 press release, SpaceChain UK Limited announced its successful completion of the first multisignature blockchain transaction in space with the support from European Space Agency (ESA).

According to the public transaction slip, SpaceChain delivered less than 0.01 BTC (about $122) to two Bitcoin addresses. The multisignature transaction was executed through blockchain hardware installed on the International Space Station (ISS) that is supported by data processor GomSpace. 

The encrypted data was transferred securely through a ground station to the ISS who holds a private key to verify and approve the transaction.


Earlier in December 2019, SpaceChain has launched a testbed for blockchain multisignature service to the ISS aboard a SpaceX Falcon 9 rocket via Nanoracks.

"Executing the multisignature transaction in space encapsulates our continuous efforts in building out an open-source blockchain-based satellite network that is secure and immutable," said Jeff Garzik, SpaceChain co-founder and CTO. According to SpaceChain’s project whitepaper, deploying blockchain nodes in space makes it harder for authorities or third-party providers to shut down.

"SpaceChain aims to be the one-stop solutions provider for the integration of blockchain and space. As we continue to identify more use cases for blockchain-based satellite networks in space, we hope to bring blockchain to mass adoption,” Garzik continued.

By Lily Yang

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