Hedera Hashgraph (HBAR) is set to potentially enter space through its groundbreaking partnership with SpaceX, as announced by a renowned crypto investor and expert. The primary role of Hedera in this partnership would be to facilitate crypto transactions in space. This collaboration could potentially revolutionize satellite-to-satellite payment networks, transforming transactions across Earth and space.
In a recent development, it has been revealed that SpaceX will be launching a satellite powered by HBAR into space in January, following a NASA research paper on Hedera. The announcement was made by Cardano founder Charles Hoskinson after his visit to Elon Musk’s SpaceX headquarters in Hawthorne, as part of the DeRec Alliance. This news was shared on Swiss media.
The choice of Hedera for this partnership is based on its ability to offer cutting-edge solutions to the challenges faced by previous blockchain technologies. In a blog post written by Shawn in 2023, it was explained that Hedera can handle trillions of transactions per second, while Ethereum can only manage 12-15 transactions per second. Additionally, Hedera achieves this level of operation while consuming 970,000,000 times less energy than Ethereum.
Shawn also outlined five key use cases for Hashgraph in space. The first is the establishment of secure satellite communication and payment networks, addressing the issues faced by SpaceX’s Starlink in providing uncensored, fast, and secure internet connectivity globally. The second use case involves tokenizing resources from asteroid mining, with the extraction of resources funded by people worldwide.
Hashgraph can also enable space supply chain management, allowing companies to monitor the carbon emissions of their supply chain and track the progress of rocket production from start to finish. It possesses unique qualities for managing space traffic, with seven features highlighted by Shawn. Moreover, the combination of artificial intelligence and Hedera enables smart contracts for autonomous spacecraft and space vehicles, allowing them to make decisions independently.
The movement of Hedera into space has been confirmed by WISeKey CEO Carlos Creus Moreira. In his announcement, Moreira stated that this mission would redefine innovation, as it tests the exchange of SEALCOIN directly from space as a proof of concept. This development signifies a significant advancement in secure satellite communication and blockchain integration with Hedera Hashgraph, paving the way for future space-based digital cryptocurrency transactions.
There are also reports suggesting a potential partnership between Cardano and SpaceX, with co-founder Charles Hoskinson dropping hints about it. At the time of writing, HBAR is trading at $0.085, experiencing a 21% surge in the last 24 hours.