Ethereum may not be going to the “moon” anytime soon due to the latest cryptocurrency market crash, but it will definitely be going to the lower earth orbit.
The market crash hasn’t stopped early investors and developers believing in Ethereum. And this statement just got solidified as XYO Network names their first satellite EtherX, named after Ethereum.
XYO Network is currently building a Blockchain based GPS system which would be completely self-sufficient and wouldn’t require any human intervention. Think of its applications in self-driving cars, packaged delivery drones etc. To build and grow their network, XYO will be launching multiple satellites in space which will beam location down to earth. EtherX is the first of that satellite.
XYO has confirmed in a press release that the satellite will be launched in late 2019 and will be launched by Elon Musk’s SpaceX CRS-19. The launch date for CRS-19 is November 2019.
“We’re pleased to provide launch services to XYO Network on an upcoming SpaceX mission,” noted Melissa Wuerl, vice president of business development at Spaceflight. “Our business is based on helping innovative, visionary companies get to space and we’re looking forward to assisting XYO Network execute their business plan.”
XYO Network Co-Founder Scott Scheper reveals on why the team chose to name the satellite after Ethereum,
“Speaking personally, Ethereum inspired me to go from a long-time blockchain observer to going ‘all in’. My work is now 100 percent focused on blockchain technologies. What the Ethereum developer community and Vitalik Buterin have built, has moved the entire ecosystem forward, period. As an ode to Ethereum and Vitalik, we decided to name our first satellite the ‘EtherX.’”
Although Ethereum’s price has tanked, its community of developers and Buidlers is stronger than ever. The Crypto markets are not based on fundamental value but on wild speculation.
The XYO team dedicating its satellite’s name to Ethereum is an example of belief and excitement about the world computer vision of Ethereum.
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