Blockchain has emerged as one of the most disruptive technologies of the decade, the advent of which has led to a domino effect across industries, reforming legacy systems, making them better and smarter. The technology has found its application in the space industry as well, with the potential to streamline the usually complicated protocols related to space exploration.
However, with the gradual advancement of quantum mechanics, many fear that it might pose a threat to blockchain and its facilitation of augmented security. USA’s leading blockchain development company HashCash Consultants, on the other hand, holds a different notion on the subject. It’s been a while since the company has been working with quantum computing, making a breakthrough in quantum cryptography by creating superfast blockchain networks, along with unbreakable private-key security. Now, the company is planning to take a step ahead by leveraging the same while working with NASA on deep-space exploration.
Blockchain and Space Exploration
The utility of blockchain technology has long since crept into the world of space exploration with NASA trying to streamline its operations leveraging the technology with the help of industry leaders like HashCash Consultants. Although, much in its nascent phase, blockchain has found its applications in the space industry through:
- Space financing – Blockchain is reducing the barriers for fundraising by democratizing access to financing, through alternative token-based fundraising for space exploration missions via ICOs.
- Space Asset Tokenization – DLT is allowing asset-based ownership of space assets such as satellites, spacecraft, and even the potential to own astronomical bodies such as asteroids.
- Space industry procurement – Blockchain allows a transparent and robust audit trail across the space industry stakeholders facilitating efficiency in procurement processes through automated smart contract payments.
- Secure satellite communication – Blockchain enables the use of satellites as nodes utilizing it for data processing and data storage in-space leading to space-based blockchain application development.
Another and probably the most significant of blockchain applications in the space industry that have already delivered favorable results are in the manufacture and supply chain management division.
Prior to the launch of a rocket into space, the technicians and pilots are required to secure the supply-chain links of multiple contractors and companies. The spacecraft supply chain commences with the sourcing of raw materials like aluminum and titanium. These metals are sent to the manufacturers via the distributors. There these metals are used to manufacture frames, steering fins, and other parts of the rocket. After manufacturing, the parts are sent to the spacecraft assembling facility, and from there it goes for the launch. Every individual or entity involved in that process is a link in the supply chain of the rocket.
The rocket supply chains tend to be complicated, time-consuming, and costly. For the efficient construction and launch of the rocket, the gap between the supply-chain links has to be short, and the business interactions transparent. Optimized tracking of the moving parts is also required in real-time, which can only be comprehensively provided by blockchain technology. It is dues to all of these positive attributes that NASA researchers are using blockchain to enhance the computing infrastructure and the cognitive networking of deep-space missions with the help of industry leaders in blockchain development like HashCash Consultants, to enable data-driven decisions for autonomous spacecraft. The use of blockchain technology is also meant to save mission costs by accelerating the speed of funding, sourcing, manufacturing, building, and launching.
Is Quantum a Threat to Blockchain?
That said, as the space industry explores ways in which they can harness the power of blockchain, some experts are concerned about a looming threat in the form of quantum computing. A blockchain is a shared digital ledger that keeps a record of data throughout the network. Instead of storing data/information in a single place or server, the distributed ledger technology mimics the same across an immense network of multiple servers.
A network of specialized computers is enlisted to crack a cryptographic algorithm for authenticating each transaction between the source and the destination. The solution is added to the record creating a block, which is basically records of transactions, which are publicly available. Since the information/data subsists in multiple instances, it becomes immutable, traceable, and verifiable. Hence it’s is safe to say that blockchain comes with the promise of advanced data security that can neither be breached nor hacked by the world’s most powerful computers.
However, with the gradual progression of quantum computing, some fear that breaking blockchain security will be a piece of cake, sabotaging security in every sector including, space, that’s using DLT. The argument is that blockchain security is influenced by mathematical puzzles that virtually impossible for conventional computers to solve. However, since quantum computers have the power and ability to solve calculations at lightning speed, the math-based encryption won’t be that difficult to break, making blockchain vulnerable just like the existing security systems.
HashCash Using Quantum Cryptography to Fortify Blockchain
While one cannot shrug-off the threat posed by quantum mechanics to the existence of blockchain or rather its promise of absolute security, the solution lies in the problem itself. That’s exactly what HashCash Consultants has been working on and has plans to help NASA to fortify its blockchain architecture with quantum cryptography to build a superfast and quantum-resistant blockchain network that will streamline and facilitate deep-space exploration.
The onslaught of quantum can be blocked by harnessing its power to fortify blockchain security through quantum cryptography or quantum encryption. It harnesses the laws of physics to communicate a secret key/data/information most securely and safely possible. The present blockchain methods of communicating data/information/secret keys are supported by solutions to complex mathematical algorithms, which has the possibility of getting debunked when quantum computers come into existence.
HashCash Consultants uses Quantum Key Distribution (QKD), which is a subset of quantum cryptography to augment security. It is used to develop private keys for sending encrypted data/information/messages from source to destination. Due to the complexities and the multiple probabilities inherent in quantum mechanics, no one can breach the blockchain network. It demands extensive computation coupled with breaking the laws of quantum physics for decoding the key. This makes QKD unbreakable, providing blockchain with the needed fortification against quantum computing. HashCash is combining QKD with its blockchain protocols to ensure absolute security creating a futuristic architecture, which they planning to invite NASA to work with so that together they can explore space and even go interstellar.
HashCash’s Quantum Plans with NASA
HashCash applications are powered by blockchain using advanced public-key cryptography. Combining the public and private-key protocols transactions are processed smoothly while ensuring enhanced security along with privacy-preserving processes. Taking a step ahead into the future HashCash is working on quantum cryptography to fortify the security of its network, which is the foundation of significant projects worldwide.
Using the same, it plans to create an ironclad blockchain network with quantum protection to streamline the complicated processes that are associated with space exploration and the use cases mentioned above. Offering such a robust and unhackable system to NASA, the leading blockchain development company plans to spearhead the future of deep-space exploration and unveil the mysteries of the universe.