Late last year, we heard the first plans from bitcoin core developer Jeff Garzik to launch bitcoin mini-satellites into space.
Today, we’re getting a little more information on the project.
The plan? Offer redundancy to the bitcoin network in the event something catastrophic happens down on earth.
Smart, don’t you think?
The plan is still very much coming together, but the idea is to build CubeSats that measure 10 centimeters on all sides. In space, they would be fed latest block chain information from the ground and serve as a node.
But how do you get a tiny satellite in orbit? Do you build a specialized rocket for it?
The answer is no.
Rather, the process would involve having the BitSat piggyback on a larger payload already going into a similar orbit.
The total cost for the project? By last year’s estimation, Garzik said it could run up into the $2 million range. As such, a donation address has been established to help fund the non-profit venture.
As of this writing, a total of 38.7 BTC has been donated, with a final balance of 2.7 BTC.