SpaceX launches another cryptocurrency satellite

Elon Musk’s SpaceX company has successfully launched the second cryptocurrency satellite Crypto2, developed by the California-based Cryptosat, into Earth’s orbit. Crypto2 was sent into orbit using a two-stage SpaceX Falcon 9 rocket.

The second satellite has 30 times more computing power than the previous one, Crypto1, which has been circulating around the planet since May last year. The main task of the satellite is to protect blockchains and Web3 solutions, it encrypts incoming and outgoing signals, and communicates with the Earth via radio frequencies. In this case, the level of data reliability is almost absolute, because in order to influence the data encryption gadget, you will have to go into space and get to the satellite.

«The launch of Crypto2 is an important step towards expanding our single-satellite infrastructure in 2022. Crypto2 gives us more availability and more powerful specifications to secure and support blockchain and Web3 solutions,» said Cryptosat co-founder Jonathan Wintraub.

It is worth reminding that Dogecoin developers use a similar radio frequency-based solution: in April, representatives of the meme token reported that they managed to execute the first transaction to send DOGE using radio technology and without the participation of a classic Internet connection. RadioDoge technology is based on a cheap HF/LoRaWAN radio signal that is widely relayed through Elon Musk’s Starlink satellite network. This provides the DogeCoin network with the world’s cheapest way to process transactions, which works even in places where there is no traditional Internet coverage.