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Space exploration has always been a phenomenon restricted to government and big companies. Common people never had the opportunity to participate in these exploration missions and harness benefits from doing so. Over the years, space missions have witnessed notable transformations. With the advent of modern software technology, the processes which were once too complicated, have become much simpler and efficient.

Blockchain is one such technology that has provided various simplifications to the solutions that the space industry faces in the extensive realm of space exploration.

How Blockchain Can Help the Space Industry?

Blockchain technology is capable of distributing cryptographically secure digital data and information to create a self-sufficient record system that can execute transactions, manage supply chains, and digital rights.

Its decentralized features allow secure data storage in a distributed manner, thereby, optimizing the integrity and strength of the communications, as well as associated positioning and timing of multiple space vehicles with IOTA. Furthermore, blockchain technology also offers space companies, especially start-ups, with an effective method of raising and acquiring funds to promote their operations.

This can significantly help in decreasing the existing slow and complex process of government bureaucracy and generate a scope of better innovations in the space industry.

Spacebit – Democratizing Space Exploration Missions

Spacebit is a futuristic space company that brings a strong and unique approach to execute space missions. It has a team of globally acknowledged professionals who aim to democratize space by tokenizing the data and communications associated with commercial space missions and provide further operational mission execution with IoT networks in space. By decentralizing the entire process, they are providing common masses with the opportunity to participate in different space programs.

The team aims to develop an efficient and economic model for accessing ground-based components in the space missions with a distinct interest in facilitating communication to multiple space vehicles in GEO, LEO, and deep space.

This model will generate effective interaction pathways between ground stations, satellite operators, space vehicles, and eventually leading to the development of a new space data economy that rests on data tokenization. Space is ready for the new machine-to-machine economy, and with the securely distributed ledger technology implementations of IOTA and Qubic, Spacebit will be ready to utilize the IoT and AI backbone for multiple space vehicles.

LinkX- A Ground Station Scheduling System

Spacebit has partnered with Goonhilly Satellite Earth Station to create a distributed ledger technology(DLT) platform. The DLT platformfor a decentralised ground station was created with an EOS beta and was developed to provide access to low-Earth and deep space communication.

This collaborative model aims to lower the entry barrier, open new commercial opportunities, and encourage seamless dialogue between different industries that include commerce, finance, academia, and government.

Another important function of this system is to optimize the process of data exchange from and to the Earth by rendering services that allow ground stations to analyze, organize, and tokenize various activities and determine idle time through a dedicated scheduling platform. It will help in subduing the downtime, bottlenecks, double booking and allow efficient automation of the entire system in a practical and flexible approach.

Eliminating the Complexities of Space Exploration Missions

Spacebit is an international space company that incorporates an experienced team of distinguished space blockchain professionals who work with a vision to democratize access to space by efficiently tokenizing commercial space missions across the globe and implementing distributed ledger technologies for real functionality in space exploration.

It is providing the space industry with an economic model and data transmission protocol implementation choice of EOS or IOTA, dependent upon the use case, for optimizing space communications. Spacebit also allows big, as well as, small companies to efficiently participate in transforming the future of the machine economy in space.

Know more about Spacebit on https://spacebit.com/

Spacebit Facebook : https://www.facebook.com/spacebit1/

Spacebit Twitter : https://twitter.com/bit_space

Spacebit Telegram : https://t.me/SpacebitENG

The post Spacebit: A Decentralized Space Company Streamlining Space Exploration Missions appeared first on ZyCrypto.

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