Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community By BTC Peers



© Reuters. Space Coin Project Aims to Bring Down the Cost of Space Travel through Decentralization and Community

In 12 short years, has morphed into one of the world’s most valuable networks. According to trackers, each coin was changing hands at around $30k in late May 2022.

The technology underlying anchoring BTC is based on community and decentralization. It is the latter feature that makes Bitcoin and cryptocurrencies robust and secure.

Bitcoin Nodes in Space

Because of decentralization, Bitcoin and public crypto networks are highly reliable, allowing them to, among other factors, fast-track financial inclusion. It is so much that Bitcoin nodes have been in space.

The idea is to ensure the network is functional even if catastrophic, black swan events on earth paralyze operations, taking down critical infrastructure. Presently, the Blockstream Satellite of Victoria, British Columbia, transmits Bitcoin’s data to the whole of the United States, Africa, the Middle East, and some parts of Europe.

Besides Bitcoin, SpaceChain, another space-centric cryptocurrency project, has also taken up nodes in space via SpaceX’s Falcon 9 rocket.

Space is the Next Frontier for Exploration

These developments cement the importance of space and point to the potential of an emerging sector in space travel.

Space exploration is gaining traction primarily because of advances made by SpaceX and Elon Musk in drastically slashing the cost of rocket launching. By reusing them, there is a significant drop in deployment costs, encouraging more participation.

Nonetheless, even in 2022, space exploration as an individual is a pipe dream because of cost barriers. Each ticket is upwards of $450k. This humongous figure is out of reach for most would-be space travelers.

Introducing the Space Coin Project

The Space Coin Project aims to change this.

They are going back to basics, understanding that the power of community and coalitions is critical in opening up space tourism for everyone. By leveraging the core ideals of blockchain, the Space Coin Project is building a decentralized system that gives everyone an equal opportunity to be able to afford space travel when it goes commercial.

The objective is to create a fair and equitable experience for the cost of traveling to space. This way, the creators of Space Coin Project hope to open up the industry and allow space tourism to flourish.

Slashing Down the Cost of Space Travel

Space Coin Project plans to make trips to space tenable by creating a concierge service with gamification elements for interested clients to acquire tickets.

The Space Coin Project enables holders of the native SPJ tokens to swap their assets for tickets through carriers of their choice. Every time users trade in their tokens for a spaceship ticket, they receive a customized NFT to commemorate their trip to outer space. This NFT gives them a pass into a Discord group where they interact with other space travelers, sharing their experiences and thrilling adventures.

Accompanying this conversion for tickets are personalized features such as timely communication with spaceship companies, accommodation and transport, all delivered through the Space Coin Project concierge.

The SpaceDAO

In the spirit of decentralization, security, and community, the Space Coin Project aims to be front advancing space exploration enthusiasts, bringing them together on a secure platform that advances their interests. The project is audited, and the SPJ token, set for fair launching on SushiSwap, will be central. Holders of SPJ would run the project through a DAO.

The DAO will be primarily tasked with burning SPJ tokens converted to ETH, USDC, or any other major coin and used to purchase tickets. Eventually, the Space Coin Project plans to enlist the DAO to be part of exciting space-focusing initiatives such as the Commercial Spaceflight Federation.

Continue reading on BTC Peers

Leave a Comment