SpaceX may benefit Bitcoin nodes by launching 4,000 satellites to build a mesh network

Golden Finance News - SpaceX announced on Wednesday the details of their new plan to deploy a new Internet backbone network in low-Earth orbit.

The private space company’s 4,425 broadband satellites will create a “mesh network” that could enhance bitcoin’s decentralized nature.

What is Spacex?

SpaceX was founded in 2002 by CEO Elon Musk. SpaceX designs, manufactures and launches advanced rockets and spacecraft.

"To revolutionize space technology with the ultimate goal of enabling people to survive on other planets."

The company has been providing astronauts and supplies to the International Space Station since May 2012, and regularly provides cargo resupply missions for NASA. Currently, the company has about 6,000 employees.

4,425 broadband satellites create 'mesh network'

Last November, SpaceX submitted an application for satellite space station authorization to the Federal Communications Commission.

Ars Technica reports that “SpaceX hopes to launch 4,425 satellites into low Earth orbit, at altitudes ranging from 715 miles to 823 miles,” to provide the world with gigabit-speed broadband.

Then, on Wednesday, SpaceX followed up with new details during a Senate hearing at the U.S. Capitol. The company revealed that "a planned constellation of 4,425 broadband satellites will launch in 2019 aboard a Falcon 9 rocket and will continue to be rolled out in phases until full capacity is reached in 2024," Ars Technica reported.

Patricia Cooper, SpaceX's vice president of satellite government affairs, stated in testimony before the Senate Commerce, Science and Transportation Committee:

"In space, the satellites will communicate with each other using fiber-optic inter-satellite links, in effect creating a 'mesh network' that will enable seamless network management and service continuity."

Benefits for Bitcoin

Mesh networks have long been discussed in the Bitcoin community, with supporters hoping to deploy Bitcoin nodes around the world using better configurations. Shaddi Hassan of the University of California, Berkeley, explained in his 2013 master's thesis, "Designing Networks to Prevent Large-Scale Power Outages":

“Mesh networks promise to build distributed, ubiquitous, resilient, and community-owned network infrastructure. This vision is undoubtedly compelling, especially for those who oppose internet censorship.”

In theory, such a network should allow Bitcoin nodes to bypass any government or other type of blockade, making it ideal for use with Bitcoin.

A presentation given by SpaceX on Wednesday confirmed that their new space-based internet infrastructure will be a mesh network, offering the accessibility and resilience that Bitcoin users are looking for.

Whether bitcoin nodes can use SpaceX’s network depends on company policies that have not yet been made public. So far, little information has been provided on the terms of use.