Spacecoin, an upcoming Decentralized Physical Infrastructure Network (DePIN) project, has announced plans to launch its first satellite, CTC-0, on December 21.
The satellite is billed as the first-ever decentralized satellite constellation to provide global 5G internet access.
Spacecoin’s satellite will use Elon Musk’s SpaceX Falcon 9 rocket
CTC-0 will launch aboard SpaceX’s Falcon 9 rocket from Vandenberg Space Force Base as part of the Bandwagon-2 rideshare mission. The primary focus is on providing internet access to underserved regions, especially in emerging markets where reliable connectivity remains a challenge.
Spacecoin uses blockchain and Low Earth Orbit (LEO) nanosatellites to create a decentralized network infrastructure. The project has already received a lot of attention, with more than 300,000 followers on X (formerly Twitter),
According to its whitepaper, Spacecoin’s 5G satellite uses NTN technology to bypass traditional ground infrastructure such as fiber optic cables and cell phone towers. This approach will reportedly reduce 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 providing universal Internet access. It can easily reach remote and underserved regions where infrastructure on the ground is lacking. At Spacecoin we use 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 remarkable progress in 2024. According to CoinGecko data, DePIN cryptocurrencies currently have a market capitalization of $44.5 billion.
Most recently, OpenLedger’s partnership with Io.net expanded GPU compute resources for scaling decentralized AI models. Helium’s telecom infrastructure received institutional attention, with a case study approved by Harvard Business School.
Polygon Ventures also took a significant step in the third quarter by leading a $20 million investment in Edge Matrix Chain (EMC). It is a popular DePIN project that integrates computer 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 long-awaited project succeeds. Analysts predict that DePIN will become a major blockchain market segment by 2025, with increased funding and innovation expected.