Ethereum Breakdown

<div style="color: rgb(29, 34, 40); font-family: &quot;Yahoo Sans&quot;, YahooSans, &quot;Helvetica Neue&quot;, Helvetica, Arial, sans-serif;"><figure class="caas-figure caas-cover" style="margin-bottom: 40px; max-width: 940px !important;"><div class="caas-figure-with-pb" style="overflow-y: hidden; max-height: 720px;"><div class="caas-img-container" style="position: relative; overflow: hidden; padding-bottom: 372px;"><div style=""><figure class="caas-figure caas-cover" style="margin-bottom: 40px; max-width: 940px !important;"><div class="caas-figure-with-pb" style="overflow-y: hidden; max-height: 720px;"><div class="caas-img-container" style="position: relative; overflow: hidden; padding-bottom: 372px;"><img class="caas-img caas-loaded" alt="" src="https://s.yimg.com/ny/api/res/1.2/RsO7ImVrbVwMZ5pcnpkqrg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyNDI7aD03NDUuMjtjZj13ZWJw/https://s.yimg.com/uu/api/res/1.2/fNNJKUk.I7yh8EnnkWB1IQ--~B/aD03MjA7dz0xMjAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/beincrypto_articles_718/958d84b74842c220cb9a612619e2d753" loading="lazy" style="border-width: initial; border-color: initial; border-image: initial; vertical-align: bottom; min-height: 1px; animation: 100ms ease 0s 1 normal none running fade; border-radius: 8px; position: absolute; top: 0px; left: 310px; transform: translate(-50%, 0px); min-width: 1px;"></div></div></figure></div><div class="caas-body" style="padding-right: 40px;"><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><span style="font-weight: 700;"><font size="5">In a space-as-a-service effort, an Enterprise Ethereum Alliance member, SpaceChain, has integrated Ethereum (ETH) technology in space by rolling out on-orbit Ethereum multisignature transaction services.</font></span></p><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">On June 3, the company launched a blockchain-based payload into space aboard a SpaceX Falcon 9 rocket. Nanoracks and Nexus are part of the initiative, wherein the former ensured a Space Act Agreement with NASA and the latter is the first user of this service.</font></p><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">While this is SpaceChain’s fourth blockchain payload launch into space, it’s their first integration of Ethereum technology into the company’s hardware on the International Space Station.</font></p><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">As the release<a href="https://medium.com/blogspacechain/spacechain-empowers-customers-with-highly-secure-on-orbit-ethereum-multisignature-transaction-f9d2035cf834" rel="nofollow noopener" target="_blank" data-ylk="slk:explained" class="link rapid-noclick-resp" data-rapid_p="7" data-v9y="1" style="color: rgb(0, 58, 188); cursor: pointer;">&nbsp;explained</a>, “the security and remoteness of space infrastructures ensures the independence of Ethereum contract operation from centralized terrestrial servers, hence providing more efficient smart contract operation and greater application scenarios.” Commenting on the development, Zee Zheng, SpaceChain co-founder and CEO, said:</font></p><div class="caas-pull-quote-wrapper caas-img caas-loaded" data-src="" style="border: none; max-width: 100%; min-height: 1px;"><blockquote class="caas-blockquote" style="margin: 30px 20px; padding: 0px 0px 0px 20px; font-style: italic; color: rgb(118, 125, 132); border-left: 2px solid rgb(199, 205, 210);"><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">“With Ethereum’s smart contract platform running in outer space, it enables us to fortify blockchain applications and transactions with enhanced security and immutability.”</font></p></blockquote></div><h2 style="margin-top: 0.8em; margin-bottom: 0.8em; line-height: 1.4em;"><span style="font-weight: 700;"><font size="5">Other recent space-as-a-service initiatives</font></span></h2><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">Some other blockchain-focused projects have also been experimenting with launching their products in space. Recently, decentralized finance synthetic derivatives Opium Finance protocol revealed that its decentralized insurance contract<a href="https://beincrypto.com/opium-uma-unveil-defi-insurance-spacex-launches/" rel="nofollow noopener" target="_blank" data-ylk="slk:will work in tandem with UMA’s oracle solution" class="link rapid-noclick-resp" data-rapid_p="8" data-v9y="1" style="color: rgb(0, 58, 188); cursor: pointer;">&nbsp;will work in tandem with UMA’s oracle solution</a>&nbsp;to bring real-world data to the blockchain.</font></p><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">The derivatives work as binary options contracts, allowing users to purchase insurance against a failed launch on SpaceX. Using the SmallSat Rideshare program, organizations can send lighter and smaller payloads to space for as low as $1 million.</font></p><p style="margin-right: 0px; margin-bottom: 0.8em; margin-left: 0px; line-height: 1.8;"><font size="5">This month, IoT firm WISeKey is<a href="https://beincrypto.com/nft-ecosystem-launches-on-spacex-falcon-9-rocket/" rel="nofollow noopener" target="_blank" data-ylk="slk:launching the first part of a non-fungible token" class="link rapid-noclick-resp" data-rapid_p="9" data-v9y="1" style="color: rgb(0, 58, 188); cursor: pointer;">&nbsp;launching the first part of a non-fungible token</a>&nbsp;ecosystem aboard a SpaceX Falcon 9 rocket. A WISeKey device will be attached to the exterior of the deployer, and be exposed to space for several weeks. This period in Earth’s low orbit will therefore be a first demonstration of WISeKey’s space-based WISeSat ecosystem.</font></p></div></div></div></figure></div>