Hedera Hashgraph, the groundbreaking distributed ledger technology, is set to launch via Elon Musk’s SpaceX on January 14, according to an announcement made by user Erik & Gizzy. This event coincides with another monumental step in the realm of secure satellite communication – the launch of SEALCOIN, a Hashgraph-based system developed by WISeKey subsidiary WiseSat along with SEALSQ.
SEALCOIN is poised to revolutionize the way we secure satellite communication by merging physical security infrastructure with distributed ledger technology (DLT). It aims to bridge the gap between traditional security systems and the decentralized digital future. The system is designed to eliminate the vulnerabilities associated with centralized transaction models, thereby creating a more secure and efficient platform for autonomous device interactions.
In a blog post published last year, the developers behind SEALCOIN explained that the platform’s token, TIOT, would lay the foundation for secure and autonomous transactions among IoT devices. The token would enable these devices to negotiate, execute, and settle transactions without the need for human intervention or centralized intermediaries.
The CEO of WISeKey, Carlos Moreira, underscored the significance of SEALCOIN’s first Proof of Concept (PoC), heralding it as a major leap towards decentralized machine-to-machine (M2M) transactions in space. He said, “With the SEALCOIN token and WISeSat’s satellite infrastructure, we are moving closer to a future where IoT devices can securely and autonomously manage transactions across vast, interconnected ecosystems.”
Moreira also hinted at the upcoming launch of the new generation of WISeSat satellites in January 2025, which he said would further accelerate the vision of a decentralized, space-powered IoT network.
In a report from November 16, CNF revealed that SpaceX could be sending a satellite powered by HBAR to space this month. The HBAR token is primarily designed to facilitate cryptocurrency transactions in space. Analysts have pointed out various use cases of Hedera in this context, such as securing satellite communication and payment networks, tokenizing resources from asteroid mining, managing space supply, tracking and managing space traffic, and serving as a smart contract for autonomous spacecraft and space vehicles.
These smart contracts can be programmed to make decisions based on real-time data. For example, if a satellite detects an obstacle or another satellite on a collision course, the smart contract can automatically execute maneuvers to avoid a collision without any need for ground intervention.
WISeKey’s CEO Carlos Creus Moreira emphasized that testing SEALCOIN directly from space as a PoC would be a breakthrough, marking a significant stride in the realm of secure satellite communication.
