Spacecoin says it has reached a major milestone in its plan to build a decentralized communications network that could eventually compete with SpaceX’s Starlink.
The company announced this week that it successfully transmitted encrypted blockchain data via its first demonstration satellite, proving the spacecraft’s ability to process cryptographic signatures in orbit. The test involved a secured transaction sent from Chile to Portugal, serving as a proof-of-concept for transmitting blockchain-backed data through space.
“Can we send cryptographic signatures to space intact? Without it, we cannot build a decentralized network of communications satellites and fulfill the vision of building permissionless connectivity,” said Tae Oh, Spacecoin founder, in a video on X. “That was the main mission of CTC-0 … and today, I’m glad to share that CTC-0 fulfilled its purpose.”
The CTC-0 satellite, built by Endurosat and launched on a SpaceX Falcon 9 rideshare mission in December 2024, is the first of a planned series of spacecraft. Spacecoin says three larger satellites, known as CTC-1, will follow, eventually scaling to even more powerful systems.
Unlike Starlink and other managed satellite broadband networks, Spacecoin aims to build Starmesh, a decentralized internet service powered by “tokenized access.” The network would run on the Creditcoin blockchain, allowing customers to pay fees and process financial transactions while maintaining encrypted, censorship-resistant connectivity.
The startup, spun out of financial services firm Gluwa in 2022, says its approach is designed to deliver internet access that is global, untraceable, and free from monopolistic control.
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Spacecoin faces an uphill battle against SpaceX, which has already launched over 8,000 satellites and signed millions of subscribers worldwide. Other rivals, including Amazon’s Project Kuiper, are also entering the race. Still, Spacecoin believes its decentralized model offers a fundamentally different value proposition for the future of internet access.
