0
📰 News
279 views

Ethereum-Based ConsenSys Space Drops Asteroid Mining for Tracking Satellites via DLT App

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Yuri Molchan
    📰 News

    Ethereum-linked ConsenSys subsidiary gives up asteroid mining to start using ETH-based dapp to track satellites using data from amateur scientists

Ethereum-Based ConsenSys Space Drops Asteroid Mining for Tracking Satellites via DLT App
Cover image via www.123rf.com
Contents

A subsidiary of Ethereum’s software maker ConsenSys, ConsenSys Space, has decided to switch from asteroid mining to working with space a little closer to Earth.

As reported by Geekwire, ConsenSys Space has launched an app called TruSat to monitor orbits of satellites and do it via an Ethereum-based application TruSat.

 

ConsenSys Space teams up with Astronautical Congress

To produce and launch the Ethereum-based open source TruSat app, ConsenSys Space partnered with Astronautical Congress located in Washington. Together they plan to monitor satellites in the low orbit of the Earth.

To build the app and start using it, ConsenSys Space also works with several organizations, such as the Secure World Foundation and the Society of Women in Space Exploration. Moriba Jah, a space expert from University of Texas, also participates.

Key members of the project say that the Ethereum network is going to be an essential component of it.

ConsenSys Space
Image via consensys.space

👉MUST READ

XRP Will Get You Local Fiat Money Instantly, Even from Space, Says New Ripple’s Commercial

XRP Will Get You Local Fiat Money Instantly, Even from Space, Says New Ripple’s Commercial

What TruSat will do

TruSat is going to collect data submitted by amateur space observers in various corners of the world, analyse it and come up with more precise data regarding the numerous satellites rotating around the planet. The data is expected to come from people whose hobby is astronomy and who will agree to share their observations.

One of TruSat founders, Chris Lewicki, a former CEO at Planetary Resources, taken over by ConsenSys Space, said that Ethereum will be largely used when dealing with data on satellites.

As per him, TruSat is currently in beta trials.

 

What’s your take on using the blockchain for studying space? Share your view in the comments section!

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted
0
📰 News
134 views

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    Holding Bitcoin as a collateral is the next big use case for the top cryptocurrency

Crypto Expert Says Bitcoin and Ethereum Are 'Formidable' Collateral Economies
Cover image via 123rf.com
Contents

According to cryptocurrency influencer Chris Burniske, both Bitcoin and Ethereum already represent formidable collateral economies.

👉MUST READ

Ethereum's Upcoming Istanbul Hard Fork Details Shared By Team Lead

Ethereum's Upcoming Istanbul Hard Fork Details Shared By Team Lead

Moving beyond a medium of exchange

In his earlier tweet, Burniske also predicts that holding Bitcoin as a collateral could eclipse its medium of exchange (MoE) use case.  

He even goes as far as claiming that Bitcoin could morph into an off-chain collateral for the world. 

Burniske states that Ethereum has already created a burgeoning collateral economy around it. Apart from extending its utility beyond a pure MoE, this could also drastically decrease the coin's volatility because of all DeFi use cases.   

👉MUST READ

Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

Ethereum (ETH) Price Undergoes Bullish Consolidation, Says Prominent Crypto Trader

The next big thing in crypto

As reported by U.Today, Genesis Capital, a subsidiary of Digital Currency Group (DCG) that rules the roost in the cryptocurrency lending sector, had a record-breaking third quarter with a whopping $870 mln in new originations. 

In Q3, Bitcoin remained the best collateral for crypto with fiat money and altcoins breathing down its neck. The share of USD loans increased by 25 percent quarter-over-quarter.

However, a group of Wall Street traders made a dire warning about crypto lending, claiming that the breakneck speed of its growth could result in another crypto bubble. 

The fastest way to get crypto news is to follow our Twitter. You won’t miss a thing! Subscribe.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

TOP TRADING BOTSPromoted
Recommended articles
CLOUD MININGPromoted

This site uses cookies for different purposes. Please set your preferences in Cookie Settings and visit our Cookie policy for more information on how and why cookies are used on this site. Click here for cookie policy

Cookie settings