Ethereum Blockchain To Be Used By NASA In New Project

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Ethereum may have just found another use and probably hit another jackpot in terms of value appreciation as NASA have plans of using the Ethereum blockchain to run their researches.

The very unfair market that cryptocurrencies have had in 2018 is one that is best left not spoken of due to its unappealing nature. This has ranged from the shattering of dreams of cryptocurrency owners who slept rich enough to buy Lamborghinis and woke up too broke to even buy a scooter. Need I go on to say more? Of course not. In general the market has been slumpy and everybody knows, everybody knows…..that is why this is so much good news for the Ethereum community.

A couple of months ago, we heard that NASA had started showing interest in Ethereum and many of us got really curious as to what exactly NASA was interested in. I mean what does an outer space institution want to do with cryptocurrencies, to show supposed aliens out there that our monetary system is changing? Well, as it stands we have some information that appears pretty helpful in easing our inquisitive minds – at least for now. The bottom line of this is that the Ethereum blockchain will be used by the National Aeronautics and Space Administration (NASA) for conducting researches.

NASA Conducting Researches With Ethereum Blockchain

This is definitely not the time for me to start ranting about how cryptocurrencies and blockchain’s theoretical possibilities have crossed the boundaries of theory and have been seen in real life applications. From being successfully used by gamers in raising funds for the UN to owning and buying assets in online games to being used by shipping companies in the tracking of goods and shipments. These have served as enough convincing factors for firms to start seeing cryptocurrencies and blockchain as the future tech.

NASA is also looking at giving the tech a try by using the technology to improve communications and navigation in space. This project is also sided by its collaboration with the University of Akron. Should NASA succeed at this (which they almost definitely will), it might be one of the greatest uses of the tech that we have seen so far. We have seen blockchain technology being user to power cities and electric car stations, but a “space mission” that is something in another league altogether.

How Does A Space Program Meet A Cryptocurrency Platform

This might as well be one of the technological “date” stories of all time. This began fter the University of Akron announced its receipt of a grant to finance its researches into space technology. The HoD of the Electrical and Computer Engineering department which received this grant, Jin Kocsis, only announced that the project was “to change how space missions were being done”. By this they intend to find ways of integrating blockchain into new models of spacecraft to make data sending and receiving easy and better.

Jin Kocsis, per an official statement communicated that it was the Ethereum platform which was best suited for the needs of the project in the quest to make space communication much more efficient and cost effective also. However she made it clear that the Ethereum blockchain was still being tested after being selected to justify that decision of selecting it.

As to what kind of impact this will have on the Ethereum cryptocurrency on the market, this is yet to be determined. Even though the coin has seen some upward trend this past week, trading at around $550-$630 dollars. This news isn’t of course a sign that Ethereum has made it finally and is going to be a mega success. For we all know that cryptocurrencies have a long way to go in transforming the financial transactions business.