The International Space Station (ISS) carried out its first blockchain transaction .

Therefore, through a partnership between SpaceChain and the European Space Agency (ESA), Bitcoin technology has literally reached space.

The announcement of the successful execution of the first multi-signature blockchain transaction in space was made by SpaceChain.

According to the company, the transaction was carried out by SpaceChain co-founder and CTO , Jeff Garzik. He is also one of the Bitcoin pioneers .

Also according to the statement, the demonstration was also made possible by Nanoracks and its Space Act agreement with NASA.

Blockchain in space
In December 2019 , SpaceChain launched a system for blockchain signatures to be implemented as a test on the ISS.

Thus, the multisignature transaction was delivered through blockchain hardware installed at the station.

"The execution of the multisignature transaction in space encapsulates our ongoing efforts to build an open source blockchain-based satellite network that is secure and immutable," said Jeff Garzik.

Blockchain connected satellites
Garzik also pointed out that SpaceChain intends to be the provider of complete solutions for blockchain and space integration .

"As we continue to identify more use cases for blockchain-based satellite networks in space, we hope to bring the blockchain up for mass adoption," said Garzik.

Thus, SpaceChain conducted rigorous tests to ensure robust and reliable connectivity between the hardware in space and the terrestrial infrastructure.

In addition, according to the company, with the additional isolation and security of the space infrastructure, new digital products can be developed. These products will be based on the technology and use cases identified for digital banks and fintech companies .

When starting the multisignature transaction, the encrypted data was transmitted from an earth station to the ISS. The station then verified and approved the transaction using a private key.

“It is an incredible honor to be selected by SpaceChain as the primary supplier for its blockchain hardware portfolio. The success of the first multisignature blockchain transaction in space demonstrates the onboard computer's capabilities in supporting decentralized constellations in space with unparalleled data processing performance, ”said Niels Buus , CEO of GomSpace.