Earlier this week, SpaceX launched the first batch of satellites into space that will form part of its Starlink project. Starlink is going to be a network of roughly 1,500 mini satellites orbiting the earth, creating a mesh network to deliver internet to every square meter of the planet’s surface. SpaceX is hoping to start serving the US and Canada before the end of 2019, with Starlink being globally active by the end of 2020. This could potentially change the crypto game as you will be able to send crypto transactions from any point on the globe – even if you’re in the middle of the Antarctic!
Internet From Space
As soon as Starlink goes live, you will be able to buy a data plan and connect to the internet via the Starlink satellites – removing the need for the bulky undersea cables and whatnot. Not only will this allow people to connect to the internet from any location on earth, but it will also allow blockchain networks to operate remotely. It opens up a nearly infinite amount of possibilities for development of the blockchain world.
New Mining Locations Available
Until now, crypto mining has been restricted by a handful of factors – namely internet access and power prices. Hook up a bunch of solar panels and wind turbines to a mining farm in the Arctic and you have what could be one of the most efficient mining farms on the planet – not to mention the savings you would make from the cold Arctic breeze cooling the rigs. The point is, Starlink means you can put a mining farm anywhere on the planet as you’re not restricted by internet access anymore.
Faster than Blockstream
At the end of 2018, Blockstream launched a bunch of satellites into space that are designed to transmit the Bitcoin blockchain network. This is a great idea, but it only works well for a few hours of the day on the Bitcoin network. Starlink would be a whole league better thanks to the fact it would be a constant connection to the internet – meaning you can access every blockchain network.
While there is still a long way to go until Starlink is fully active, companies planning their next crypto mining farm should take it into consideration. The benefits of Starlink could be the difference between a mining farm turning a profit and falling flat on its face.