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XYO launches Blockchain satellite EtherX

XYO Network joins hands with space industry leader Spaceflight to launch first Blockchain satellite into space called the EtherX spacecraft into orbit. The name EtherX is a tribute to the Ethereum.

The satellite will be sent to space using SpaceX’s Falcon 9 rocket on SpaceX CRS-19.

This project is aiming to decentralize the world’s location infrastructure which at present dominated by the Global Positioning System (GPS), owned by the US Air Force.  EtherX will facilitate developers to create their own decentralized applications based on location data called “Geodapps”. It will help in getting more coverage which could be used to validate their geospatial Blockchain nodes on the ground called “sentinels”. The satellite is so self-sufficient that it do not require any human intervention.

The plan will be done in two phases. In the first phase XYO Network will come together with technology groups to ensure location certainty to the XYO Network edge nodes, which are powered and operated by community members worldwide known as Geominers. In the second phase, the satellite will be used to help nodes and sentinels in remote region to communicate and verify their locations.

At present XYO Network comprises of multiple relative locations based mesh networks. These mesh networks are backed by cryptographic protocol. Smartphones which run XYO applications serve as nodes and endpoints. Each of these nodes can communicate and verify which results in geomining.