How do you ensure legal compliance with regulatory bodies in various countries?
We have a legal team to ensure full compliance. We also have team members and partners in China, Israel, Singapore and the US who work with local governing bodies to ensure that we are fully compliant with local regulations.
What are your scheduled dates for your space node and satellite launches?
We have rough timelines in place, but due to variables that we might not be able to control, such as weather and the schedules of our launch providers and partners, this timeline may shift around. Additionally, we are unable to release the launch date before the rocket launch site officially releases the news. We will let the community know once we’re cleared to announce the date.
Who are the core developers for this project?
Our core development team is based in USA and China, with CTO Jeff Garzik and a few other aerospace engineers in the U.S.
How many people are there in your team?
We have more than 20 people working on our project and another 20 engineers who are contributing to the development of SpaceChain’s hardware and software.
Can you share more about CTO Jeff Garzik’s involvement in the project?
Jeff Garzik has been an integral part of the initial SPC design in regards to satellite payloads and architecture of SpaceChain OS. Additionally, he also provided the foundational architecture for the decentralized space constellation and the “data center in space” API and architecture. Jeff regularly represents SpaceChain at industry conferences, meets with partners and advisors, and regularly interacts with the core SpaceChain team.
Who else other than Zee Zheng (CEO), Jeff Garzik (CTO) hold tokens from the team?
Core team members have token distributions built into their agreements, based on performance.
How many SPC tokens do advisors hold?
Unfortunately, these details are NDA’ed, however, what we can say is that none of the advisors hold more than 1% of the SPC tokens for their advisory.
Can you disclose the salary that is being drawn by the CEO, CTO and CMO and other important members of SpaceChain?
We have no plans to disclose individual salaries of our employees. That infringes on their privacy, and we won’t be doing that.
Can you share the wallet address of SpaceChain Foundation?
No, however, we would like to reiterate that SpaceChain Foundation does not engage in any form of price manipulation, including dumping tokens on the secondary market.
Can you explain how the funding has been spent and also how much of the funding is still left?
Funding to date has been spent on paying developers, advisors and consultants, as well as developing the community. SpaceChain has enough funding to support the next few years of operation with no issue.
Did you have an ICO?
No, there was no ICO. There was only a private sale only for institutional investors and accredited investors.
What is the token distribution for SpaceChain?
15% for team and future talent acquisition, 15% for building the space and blockchain ecosystem, 9% for key partners and resources, 10% for future reserves and 51% was distributed to community (the majority of the tokens were distributed via the presale, while some of the tokens were airdropped on EXX.com and via community events).
Why is there such a huge amount of circulating supply of 51% tokens?
The choice of releasing 51% tokens to the community is because of decentralization. If SpaceChain holds 90% of the tokens then there would be no difference between us and a traditional equity company. There may be projects that release just 2% circulation supply, but this does not fit our business model. A small circulation supply may make the current price higher, but if they release an additional 20% of the supply later, it is going to get dumped on the market and that will hurt the community. Additionally, the total supply is already written in smart contracts so we cannot reduce the total SPC token supply.
What is the utility of the SPC token?
SpaceChain has built a decentralized platform for space and satellite-based application development, where its token serves as a method of payment for access to applications built and utilized. As such, the SPC token works like a digital currency in the SpaceChain ecosystem. Thanks to the businesses and companies that partner with SpaceChain, the entire network is powered by and built on this utility token model.
Will both types of SPC tokens exist after the exchange? What is the difference between SPC on ERC-20 and SPC on QRC-20?
Both ERC-20 and QRC-20 will exist after the exchange as we are promoting a dual-token model. Most blockchain users are not familiar with QRC-20, so having a dual token enables greater user adoption (especially developers) by those who are familiar with ERC-20 SPC.
What are the pros and cons for SPC on both ERC-20 and QRC-20 chains?
Qtum has one of the best Proof of Stake (PoS) smart contract platforms. It provides the stability we want and consumes little energy, which is ideal for us in this blockchain/space industry. Qtum also has a more secure financial infrastructure than Ethereum as it uses an unspent transaction output (UTXO) model. However, Qtum is still in relatively early stages, and still needs more development tools and business development to support the ecosystem. Ethereum is the leading smart contract platform that most of blockchain users are familiar with, hence it will be easier for SpaceChain to promote user acquisition with ERC-20.
What is the purpose of keeping QRC-20 tokens? Does it mean that it can be two different SPC tokens on two different exchanges will have two different prices?
We have made a lot of development on Qtum. The first version of our SpaceChain OS on GitHub is integrated with Qtum and the latest space node that we launch is capable of performing multi-signature blockchain transaction with Qtum network. We are also incorporating security features with blockchain transaction powered by satellites, and integrating Ethereum into our space node as well. We cannot comment on prices on exchanges, but for our part, we will always remain at a 1:1 exchange rate between QRC and ERC.
Can I leave my tokens as QRC-20 for the long term or will the QRC-20 SPC tokens eventually have no utility?
Yes, you can leave as QRC-20 tokens because when it comes to utility of our tokens, we accept both QRC-20 SPC and ERC-20 SPC tokens.
What is the difference between having a blockchain on Earth as opposed to in space?
Blockchain technology is hosted on centralized servers on Earth and
Why do you need to be dependent on Qtum?
There are a variety of reasons for adopting Qtum technology including but not limited to, benefits such as having a low power consumption proof of stake (PoS) consensus mechanism. Qtum has one of best working PoS smart contract platforms out there.
Proof of work (PoW) burns a lot of energy but PoS does not.
A use case question for the GPS module: Will you have enough coverage around the Earth to enable reception anytime, anywhere in the world?
We want to build a coverage communication network that covers the entire world. But that will take some time to do as we have to build the blockchain infrastructure from scratch. In the meantime, we can utilize the existing satellite network to do that. Our space node is a blockchain node that enables storage and calculation, and our ground device is a ground node.
The concept of a coverage region is only for Geostationary (GEO) satellites. For low Earth orbit (LEO) satellites, those limitations don’t exist as they move at very high speed and aren’t fixed in space in relation to the earth. We can provide the service by using the existing satellite network, and the service area will depend on community demand.
Can you expand it to a multi-satellite network with cross-satellite communications? For example, something similar to the Iridium satellite constellation where there are around 77 Iridium satellites hovering at low altitude to cover the entire world.
Yes, we are able to expand to cross-satellite communication with the existing satellite network, and the Iridium system is one of those options.
We are focused on turning satellites into blockchain nodes, and we are developing our own space node. Our focus is also on developing our software (OS and Applications) as well as our hardware (space and ground).
When Qtum and dApp are used in the SpaceChain, is it possible for other cryptocurrencies to be used for SpaceChain nodes?
We are currently integrating Ethereum into our OS so that it can support both Qtum and Ethereum and developers can create
Will SpaceChain have a
We are focusing on building a SpaceChain OS that is compatible with many different public chains. We’ve integrated with Qtum, and are now working on Ethereum. We do not have a plan to launch our
Can SpaceChain OS run on third-party satellites or does it rely on proprietary hardware?
We’re currently focused on an open-source hardware method as well as open satellite design so, in theory, yes, SpaceChain OS maintains the capability to run on other satellites.
How can we utilize the satellite signals from the node? Do you plan on having coverage for the entire world without the use of the Internet or will we still need to utilize the Internet?
We are developing consumer-based storage services. Essentially we’ll only be hosting the service that facilitates the upload/download activity. We are definitely not planning to “replace” the Internet. We are working on utilizing space technology to better serve the blockchain industry and using blockchain technologies to serve the space industry.
Is the first space node currently in orbit working as a Qtum node – similar to what my laptop computer does with PoS which connects to the Qtum main chain and downloads each block to PoS?
Yes, it is a full Qtum node on a Raspberry Pi chip. However, it does not connect with the
The project is a Qtum dApp (aka Qtum smart contract and sylixos.com) that is a child chain on the Qtum chain. As of right now, accessing the satellite node has to be done through the Internet. Eventually, will users be able to perform an off-grid or a solar-powered transaction to the satellite?
As of right now, the connection to the satellites will be through ground stations (located in China and the UK), but portable devices will allow individuals to directly communicate with these satellites.
Can SPC be mined by Proof of stake?
Where can the open-source code be found?
Please check out our GitHub repository here.
Why is the project taking so long to achieve its goal?
Our project requires extensive preparation and overhead costs to get it moving. Unlike other projects, we require both software and hardware. However,
How long does the satellite need to transfer the data?
It depends on the capacity of the satellites. Most of the CubeSats have limited bandwidth and it takes a longer time to complete an upload/download. The pros of launching small satellites are that they are cheap and build time is faster. We will have opportunities to test these out before we commit and invest
Will we have
Community & Partnerships
How can we participate in the community and ask questions?
You can stay up to date with us at Medium, Twitter, Facebook, LinkedIn, our subreddit, Discord server, and Telegram group. We will host AMAs regularly and keep you posted on our various social media platforms. You might also want to check out our Get Involved section for more details on community activities.
You’ve mentioned that the team is willing to do more AMAs, can you share the names and designations of the team so that we know who these people are?
Zee Zheng (chief executive officer), Jeff Garzik (chief technology officer) and Eric Desatnik (chief marketing officer) have all done AMAs with the community. We prefer only having executive team members participate in AMAs so that the rest of the team can focus on development. We will work towards scheduling more frequent AMAs so keep an eye on our social media channels, especially our Reddit and Telegram channels.
What kind of partnerships are you looking for
Who are your main competitors?
Being a non-profit foundation, we are interested in collaborating with as many companies and projects as possible to build a larger space community and ecosystem. We are an open-source project, and the plan is never about exclusion but rather, about inclusion. We are the first organization to build a blockchain and space ecosystem. If there are other projects/companies that start following this model, we are happy to partner with them.
How are you attracting the developers to work on the SpaceChain OS platform?
We are in talks with many space companies that are using traditional operating systems. For enterprise users, we have built partnerships with a number of companies to develop applications or spacecraft using integrated development environments for SpaceChain OS. We have helped several companies install integrated development environments, and they have already begun using those environments in real time scenarios. We will continue to promote this with our enterprise partners.
We have also integrated Qtum on SpaceChain OS. The Qtum developer community has a great level of awareness and we have received a number of applications to test the integrated development environment. We are also integrating ETH on SpaceChain OS, and once we complete that, we’ll be able to get more developers working on the platform.
We are also developing a student ambassador program and a technical fellowship program to provide an outlet for talented young developers as well as blockchain and space enthusiasts to join our mission.