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TipRanks 2022-10-27 15:06:45

Cryptosat to Send “Crypto-Satellites” into Earth’s Orbit

Blockchain technology relies on extremely sensitive computational operations to maintain data security and privacy. One of the main factors influencing a blockchain’s integrity is its ability to thwart malicious actors. Cryptographic protocols depend heavily on "trusted environments," an essential component for functionality because they deliver security. In order to add an additional layer of security for blockchains, blockchain startup Cryptosat intends to launch nano-satellites into lower-earth orbit. These satellites will power a Trusted Execution Environment (TEE) in space for blockchain and cryptographic protocols while serving as tamper-proof hardware and unlocking new use cases for computation in general.

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