Qtum has announced that they have successfully launched the first ever blockchain operated node into space in conjunction with a Chinese satellite company. The satellite Zhangheng 1 was launched late last week and is the first ever to have a payload of it's nature, it contains a fully operating and functional Qtum node, that will provide the company with higher connectivity and efficiency of the Qtum blockchain.
Qtum is a blockchain developer platform similar to Ethereum or EOS but it uses a lightweight smart contract model. It uses what is called Unspent Transaction Output (UTO), which means that every transaction on the network has to be validated b y the last transaction that happened. This means that the blockchain is self governed and has no requirement of third party authorization at all, and is highly capable of working within a high performance IoT infrastructure.
Their partnership with Spacechain is also beneficial to this new program, as they both share goals in making data self autonomous and safe. They aim to implement an open source network of satellites that create a hemisphere of data storage for the Qtum blockchain, and will prevent regulations from sanctioning how information is protected and authorized. Spacechain will be launching it's own satellite soon powered by a Qtum node as well.
Of course this new event is truly revolutionary for blockchain and cryptocurrencies in general, and is something that would have been unthinkable just a decade ago. It absolutely gratifies the progress made in the last year of the market, and is significant to the promising future of it too. However with better privacy and security of data and information comes increased chances of criminal and covert transactions. Regulatory jurisdiction would be prevented from access to evidence of embezzlement, tax evasion, corporate offshoring and many other financial crimes of a white collar nature. This move will prove beneficial and advantageous to Qtum itself, but will be considered to some as an alternative to the Cayman Islands
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