Bitcoin and Cryptocurrencies in the Space!
Bitcoin and cryptocurrencies have got famous all around the world. However, seemingly this fame goes beyond the earth, and the presence of cryptocurrencies will be seen in the space too. Some systems are being designed and prepared recently that with the help of them, a new version of the Bitcoin network can be founded in the space. Bitsat is a program supposed to reach Bitcoin to space and in which 24 satellites will be sent there in order for each to play the role of Bitcoin node to process the data in the Bitcoin network. However, what is the necessity of this program? Why should Bitcoin be processed from the space?
Free Information Flow in the World
Bitcoin founders are seeking for creating a way and a ground to offer and exchange information freely across the world; that is, a world without the possibility of censorship and prohibition of publishing data and information. Hence, in order to avoid the probability of blocking the active Blockchain system, some replacements are needed which are always available and avoid the stoppage of free information flow in the world. Among the threats which can attack the world of Blockchain and cryptocurrencies is Sybil attack. In these attacks, a series of nodes managed by a third party selects a node as the victim and surrounds it and send erroneous information to that node. This erroneous information causes the users’ misunderstanding and mistake. For example, a Bitcoin is extracted from the person’s wallet and account, but no message will be issued to him/her. Now, how can this issue be controlled with the help of some networks in the space?
Bitcoin in the Space
One of the ways which can remove the problem of attack and looting information in the world of cryptocurrencies is to create a trustable source and base. This support network is not accessible and acts securely for keeping and sending information. In addition, the satellites have the ability to keep bulky data from around the world. Each one of these satellites can provide security of the whole Blockchain system for Bitcoin trades and actually give necessary support to the Bitcoin network.
The life span of each satellite has been estimated about five years, and it seems that they should be designed and made in a smaller size to decrease the charges related to their manufacture and firing up to space. Such an idea is to some extent similar to fiction movies; however, many active companies in the area of satellite industries are attempting to manufacture the satellites with the aforementioned features.
There are various ideas proposed about Blockchain, Bitcoin and their future. These ideas are dispersed around the world, and it is obvious that someday they will mature and be practical. These ideas are practical, so they build the cryptocurrency lovers’ hope on an easier and more prosperous future. Developing the use of satellites to protect Bitcoin networks is not far-fetched at all.