Nexus Inc. Successfully Launches Bitcoin Multisignature Wallet On YAM-2 Satellite Via SpaceX’s Reusable Falcon 9 Rocket
CAPE CANAVERAL SPACE FORCE STATION, Fla. (Nexus Inc. PR) – In another strategic move to further aid cryptocurrency trading platforms circumvent land-based cybercrime, Nexus Inc., the world’s leading digital finance asset custodian company, has successfully launched its bitcoin multisignature wallet in space. With the recent SpaceX launch of the world’s first ethereum multisignature hardware onboard the International Space Station, and along with the recent deployment of the bitcoin multisignature node, Nexus Inc. becomes the only company and deep tech solutions provider in the world to offer both ethereum and bitcoin in-orbit transactional authentication solutions.
Nexus Inc.’s proprietary bitcoin blockchain node, already installed on the YAM-2 spacecraft, a rideshare mission operated by San Francisco-based space infrastructure provider Loft Orbital, sat onboard the SpaceX orbital-class reflight Falcon 9 rocket and jettisoned out of Cape Canaveral Space Force Station at launch site SLC-40 on Wednesday 30 June 2021 at 3:31pm Eastern Daylight Time. The YAM-2 satellite was then deployed by the SpaceX Transporter-2 launch mission 520km above earth. With the hardware payload in orbit, offline end-to-end encrypted data and security keys, stored remotely in space, are now able to complete bitcoin transactions under guaranteed ultra-secure conditions. By limiting to just 50 transactions a day, Nexus Inc.’s cryptocurrency clients are further fully insulated from would-be digital thieves as a result of its one-of-a-kind authentication protocols.
States Ryan ‘Martian’ Xu, Nexus Inc. co-founder and board member: “With both rocket launches a success, Nexus Inc. is now a proven, vaunted provider of superior financial asset custodian services for the sole purpose of aiding clients with ultra-secure cryptocurrency transactions against terrestrial fraud risks. By executing multisignature transactions in space, Nexus Inc. encapsulates a fulfilling security ecosystem entrenched in absolute immutability. This puts Nexus Inc. ahead, and well above, an industry constantly fighting cybercrime.”
“Both of our space-based multisignature services are shaping the next wave of personal and digital finance security measures. The multisignature wallet, along with deep security layers, is the perfect storage medium for managing digital assets such as cryptocurrencies, to thwart hackers. Executed from our ground-based interface, which has an uplink-downlink latency of at least 12 hours, effectively slows down and delays the movement of digital assets and currencies in order to execute bitcoin multisignature protocols effectively.”
Nexus Inc.’s native space-centred multisignature transactional protocol allows for a robust and reliable connectivity between its blockchain hardware onboard the YAM-2 satellite and native terminal back on earth. A multisignature wallet basically requires two or more sign-offs for any transaction to take place. Nexus Inc., in opting for space-based payloads as opposed to land-bound servers, completely solves terrestrial centralised infrastructure issues that have been plaguing institutions and businesses in the last two decades. Additionally, there are absolutely no chances of physically destroying a node located in a satellite. The measurement, control and data transmission of the space node uses the aerospace-specific code encryption protocol and communication band, making the data difficult for decryption. Having multisignature protocols in place also nullifies problems caused by loss or theft of a private key. If one multisignature key is compromised, Nexus Inc. amply guarantees cryptocurrency funds are safe and secure as a result of one of the private keys being stored onboard one of the satellites. In the event one server is attacked, all other servers remain unscathed.
Nexus Inc.’s space-based bitcoin multisignature system architecture and activation protocols are as follows: Client executes transaction on laptop; data is sent privately through Nexus Inc.’s secure ground station to the space node inside the YAM-2 satellite, which holds a private key to verify and sign-off on the transaction; data is sent back to the ground station and broadcast onto Nexus Inc.’s client’s blockchain network; data is then stored in Nexus Inc.’s client’s blockchain network. Upon activation, the payload will demonstrate receipt, authorisation, and retransmission of the blockchain multisignature transactions.
The newly-launched bitcoin multisignature software node is built by London- and Singapore-domiciled decentralized infrastructural provider SpaceChain Foundation; which has already completed conducting stringent testing to ensure robust and reliable connectivity between the blockchain hardware in space and land-based infrastructure on earth. “We are already embracing and embedding the fast-growing digital economy as part of our culture and work values,” says Ryan ‘Martian’ Xu, Nexus Inc. co-founder and board member. “Space is the new frontier for cutting-edge security installations, and with two multisignature protocols in place, for ethereum and bitcoin, positions Nexus’s commitment to constantly looking to advance deep tech capabilities worldwide.”
Ryan ‘Martian’ Xu, Co-founder and Board Member, Nexus Inc.
Melbourne-based Ryan ‘Martian’ Xu (“Martian”) is the co-founder and board member of Nexus Inc. A graduate of Shanghai Jiao Tong University where he holds a Bachelor of Engineering degree, Martian, as he is fondly known among his fellow contemporaries in the deep tech, space and blockchain industries, is also co-founder of Melbourne multinational bitcoin mining and management consulting company Blockchain Global, premier asset manager with one of the largest blockchain asset funds across the Asia-Pacific region – Collinstar Capital, and Rongyitou Internet Financial Services Co. Ltd. Martian is one of the most influential thought leaders in the Chinese digital currency and blockchain community. He is also a member of the Asian DACA Blockchain Association and Chairman of HCash Foundation. Martian has been a committed advocate of the bitcoin industry since 2014 that includes blockchain, mining and investing. He brings special expertise to pioneering blockchain technology by expanding into new markets and leveraging new platforms with the latest deep tech capabilities in a fast-changing business environment. Recently, Martian was appointed board member and chief strategy officer of Code Chain New Continent Limited, a blank check holding company that operates solid waste recycling, coal and coke wholesaling, and coating materials through its subsidiaries.
Jessy Lai, Co-founder, Nexus Inc.
Jessy Lai is co-founder of Nexus Inc. Jessy is a multi-faceted, serial entrepreneur with a passion for turning ideas into exciting, impactful realities for companies and institutions worldwide. Jessy is instrumental in helping mission-driven professionals materialize ideas, elevate performance and accelerate success. She is also lauded as one of Malaysia’s top entrepreneurs with business interests spanning across Hong Kong, Taiwan, China, and most recently, Korea. Along with pursuing entrepreneurial endeavours, Jessy is deeply passionate about making a difference in peoples’ lives. She is an active contributor and participant in a wide myriad of philanthropic and humanitarian causes such as Malaysian charity organisation Batu Grace, and other causes across the region.
– Advertisement –