Spacecoin, an upcoming Decentralized Physical Infrastructure Network (DePIN) project, announced plans to launch its first satellite, CTC-0, on December 21.
The satellite is being labeled as the first-ever decentralized satellite constellation to provide global 5G internet access.
Spacecoin’s Satelite Will Use Elon Musk’s SpaceX Falcon 9 Rocket
CTC-0 will launch aboard SpaceX’s Falcon 9 rocket from the Vandenberg Space Force Base as part of the Bandwagon-2 rideshare mission. Its primary focus is on delivering internet access to underserved regions, particularly in emerging markets where reliable connectivity remains a challenge.
Spacecoin is using blockchain and Low Earth Orbit (LEO) nanosatellites to create a decentralized network infrastructure. The project has already garnered significant attention, with over 300,000 followers on X (formerly Twitter),
According to its whitepaper, Spacecoin’s satellite uses 5G NTN technology to bypass traditional ground infrastructure like fiber-optic cables and cellphone towers. This approach will reportedly lower connectivity costs, with estimates of just $1–$2 per user per month in targeted regions.
“Satellite-based internet infrastructure has emerged as the only viable means of delivering universal internet access. It can easily reach remote and underserved regions where ground-based infrastructure falls short. At Spacecoin, we are leveraging Low Earth Orbit satellites and blockchain technology to deliver reliable and affordable internet,” the project’s CEO, Stuart Gardner, told BeInCrypto.
Meanwhile, the DePIN sector has witnessed notable advancements throughout 2024. DePIN cryptocurrencies currently have a $44.5 billion market cap, according to CoinGecko data.
Most recently, OpenLedger’s collaboration with Io.net expanded GPU compute resources for scaling decentralized AI models. Helium’s telecom infrastructure gained institutional attention, with a case study approved by Harvard Business School.
Also, Polygon Ventures made a significant move in Q3 by leading a $20 million investment in Edge Matrix Chain (EMC). It’s a popular DePIN project integrating computing networks with decentralized AI applications. EMC has been in development for four years.
In another major development, UAE-based investment firms Hodler and Gewan launched a $500 million fund to boost DePIN and AI ventures. It would be interesting to see if Spacecoin’s highly anticipated project succeeds. Analysts predict that DePIN will emerge as a key blockchain market segment by 2025, with increased funding and innovation expected.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
