Cryptocurrency News

Elon Musk Announces Crypto ‘Space Race’ Has Started With BitMEX

The 21st-century space race between Elon Musk and BitMEX appears to be underway, with both sides pledging to launch their respective cryptocurrency of choice to the first literal moon.

On June 4th, the popular crypto derivatives exchange BitMEX announced It will support space robotics firm, Astrobotic Technology, in the company’s mission to send its first commercial lander to the Moon during the fourth quarter of 2020.

Noting that the mission aims to be the first instance in which “a private company led by a coalition of government, academia, industry, and international partners reaches the lunar surface,” BitMEX took this opportunity as a one-on-one on the lunar surface Like physical bitcoin. Referring to Musk as a “Dogecoin hero”, BitMEX said:

“We have nothing against Doge Money, we just felt it was right to help bitcoin get there first.”

The announcement comes after Elon Musk reported in early May that SpaceX plans to launch a Dogecoin-funded payload on one of its first rockets to the Moon, which DOGE said was the first to reach lunar orbit next year. will become a cryptocurrency.

Elon Musk reacted Announcing BitMEX’s new celestial ambitions on Twitter: “A new space race has begun!”

While Elon’s tweet has largely been responded to by his followers barracking for DOGE to win the crypto space race, others noted that there are more pressing problems on Earth as to whether a crypto token of one’s choice is another celestial being. is the first to enter the orbit of the body.

While few projects exploring the usefulness of setting up crypto infrastructure from space have captured the mainstream imagination like Musk’s Dogecoin campaign, the Tesla CEO’s plan to kick cryptocurrencies out of this world isn’t the first.

It appears that Blockstream has been a pioneer in the use of crypto satellites, launching satellites. Broadcast bitcoin transactions from space in August 2017.

In August 2020, Robonomics and Kusama announced an ambitious plan to develop “an interplanetary architecture” that is capable of Relaying data between Mars and Earth Using Kusma Network.

Cryptosat outlined the concept behind its ambitious plan to launch a coffee mug-sized nano-satellite into space in a November 2017 whitepaper, with the satellite slated to operate as one. isolated cryptographic module from class. The team plans to prove the concept with a launch this year and later before sending the entire constellation of Cryptosat into orbit.

Spacechain was similarly launched in 2017, and has successfully deployed nodes in orbit. Project on 3rd June 2021 announced Its Multisig Ethereum payload was launched on a SpaceX rocket to be installed on the International Space Station.