Elon Musk’s SpaceX will help cryptocurrencies become more reliable

Elon Musk’s SpaceX has successfully launched the first crypto satellite Crypto1, created by Cryptosat, into orbit using a Falcon 9 rocket.

This satellite is comparable in size to an ordinary tea cup, but it will provide a tamper-proof platform from which to run blockchain-based applications and other Web3 protocols. That is, the satellite encrypts incoming and outgoing signals and communicates with the Earth via radio frequencies.

The main task of the satellite will be to protect blockchains and Web3 solutions. Thanks to this, the level of reliability will be almost absolute. After all, in order to influence the data encryption gadget, you will have to go into space and reach the satellite.

A similar radio frequency-based solution is used by the developers of the Dogecoin cryptocurrency, who recently announced the testing of the first transactions without the participation of traditional Internet networks.