Vector and Nexus Team Up to Bring Cryptocurrency to Space
Vector, a nanosatellite launch company comprised of new-space and enterprise software industry veterans from SpaceX, Virgin Galactic, McDonnell Douglas, Boeing, Sea Launch and VMware, today announced a partnership with Nexus to host its decentralized cryptocurrency in space using Vector's GalacticSky Software-Defined Satellite platform. Nexus will be the first company to deploy a cryptocurrency on a satellite orbiting the earth. This partnership between Vector and Nexus highlights the unique use cases for GalacticSky's technology and further proves the versatility of the platform. Additionally, the partnership allows future Vector customers to pay for launches using Nexus' cryptocurrency, NXS.
"With Bitcoin's valuation at an all-time high, people are beginning to accept cryptocurrency as a real form of payment, but there are still problems with storage and ownership," said Colin Cantrell, founder and lead core developer of Nexus. "The capabilities provided by the GalacticSky platform, combined with the flexibility of Vector's launch model, bring us one step closer to accomplishing our mission of providing the world with a decentralized currency that can be accessed virtually anywhere, anytime."
By hosting NXS in space via GalacticSky, Nexus is no longer tied to a nation-state and can create the backbone for a more decentralized financial ecosystem. By utilizing a satellite virtualization platform through GalacticSky, Nexus can distribute its blockchain across multiple satellites, providing it enhanced reliability and performance. Nexus' secure cryptocurrency and decentralized peer-to-peer network will grant greater freedom and transactional transparency for global access to financial services.
By hosting Nexus' cryptocurrency on Vector's software-defined satellite, Nexus can further demonstrate the wide range of disruptive innovations that can be hosted on the GalacticSky platform. GalacticSky's mission is to provide unprecedented accessibility to entrepreneurs and space innovators, and the platform's additional level of reliability and scalability makes it a natural fit for cryptocurrency applications. Vector's first deployment of NXS is expected to take place in 2019.
"Over the last year, we've made many advancements in order to solidify our standing as a leading nanosatellite launch company," said Jim Cantrell, CEO and co-founder of Vector. "Housing Nexus' cryptocurrency on our GalacticSky platform not only validates our proof of concept, but demonstrates how prolific this opportunity is for startups looking to innovate in space without the need to build their own satellite."
Since its inception in 2016, Vector has aimed to revolutionize the commercial space industry by increasing accessibility for entrepreneurs and space innovators. This partnership with Nexus is the second announcement from Vector's GalacticSky division. Earlier this year, GalacticSky and Citrix partnered to bring advanced datacenter and cloud virtualization technology into space for the first time. Vector also recently announced the opening of its Silicon Valley headquarters, led by Chief Sales and Marketing Officer Shaun Coleman, to further the development of the GalacticSky division.
Vector also announced a partnership Astro Digital to conduct a dedicated launch in 2018 featuring one of Astro Digital's satellites. Vector has begun production of the first orbital vehicle, and will break ground on a brand-new launch vehicle manufacturing facility in Pima County, Ariz. next year to ramp-up production.