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ConsenSys Exploring Missions Aimed At Reducing Space Travel Cost By 95 Percent

Talking about going to Mars and Moon is a common thing among cryptonaughts. However, a blockchain firm from New York, ConsenSys has an entirely different vision related to its space exploring missions. The company through its new acquisition is thinking way beyond the common exploration and discoveries and is trying to find out ways to reduce the space travel cost by 95 percent.

Recently ConsenSys acquired space resources and exploration venture, Planetary Resources in an asset-purchase transaction. The company did not unveil the terms of the deal. However, the topmost staff of the space resources company including its CEO Chris Lewicki and General Counsel Brian Israel will be a part of ConsenSys.

The primary mission of the Washington-based firm is to conduct space explorations to track resources on asteroids as well as on other space systems. The intention is to track down elements such as minerals, precious metals, and water in the space so that the cost of space travel can be reduced by 95 percent.

As a part of its space exploring missions, the American venture launched a spacecraft that can detect water resources in the space and also test commercial hardware with the hope that it can hugely cut down the cost required for conducting deep-space missions, Crypto Briefing reported. ConsenSys has now taken over the facilities of Planetary Resources in Redmond, Washington, it is expected to take these aspirations further.

According to the founder of ConsenSys and co-founder of Ethereum Joel Lubin, the acquisition will introduce potential space and planetary application for the ETH network. Importantly, it will bring deep space capabilities into the ecosystem of ConsenSys. Lubin further added that this in a way reflects the belief of the company in the capability of the ETH platform to contribute towards humanity by crafting new societal rule systems with the help of guaranteed execution and automated trust, Planetary Resources reported.

With this acquisition, crypto enthusiasts will get an opportunity to support space missions by donating cryptocurrencies via blockchain such as the Ethereum network. According to NASA, its Transiting Exoplanet Survey Satellite (TESS) will monitor more than 200,000 stars to find out the reasons for temporary drops in their brightness. With NASA’s first-ever spaceborne all-sky transit survey poised to discover thousands of exoplanets in the orbit of the brightest stars in the space, the days are not far when humanity will be able to reach planets with minerals and water presence.

Eventually, with the acquisition of Planetary Resources by ConsenSys, the role of blockchain platforms in funding space exploration missions will increase further.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Sangati has graduated in biological sciences and also has completed P.G. Diploma in Mass Communication. She has an experience of 14 years writing for leading ad agencies, corporate and media houses, online news channels and websites. She is passionate about writing, reading, music and traveling. Sangati writes blockchain and cryptocurrency news for OWLT Market.

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