Elon Musk, a well-known personality, the inspiration of many, and the face of innovation, has announced SpaceX DOGE-1 satellite. You must be wondering why to give hype to the announcement of a satellite when he has a bigger plan to take humans to Mars. SpaceX’s Satellite mission’s announcement is different from other space programs as it will be funded by Dogecoin. It will be the first time when a space mission will be funded by a cryptocurrency. Elon Musk has already announced his excitement about the mission in twitter.
Let’s know more about the mission and the cryptocurrency that will finance this mission;
What is SpaceX’s DOGE-1 Satellite Mission
All the announcements of Elon Musk become sensational news, but the announcement of the SpaceX DOGE-1 satellite is big news for space and cryptocurrency. As per the announcement of Geometric Energy Corporation, a Canadian Company, SpaceX will launch the satellite to the moon next year and all the entirely funded by Dogecoin.
It will be the first time when a cryptocurrency will finance a space project. The company hasn’t announced the project’s cost yet, but the use of cryptocurrency for a space mission is a surprise. the satellite will be launched aboard by SpaceX Falcon 9 rocket. the rocket will take off in the first quarter of 2022. The rocket will have a cubic satellite, and the satellite’s weight will be 49 Kilograms or 88 Pounds. It will have a camera and sensors that will enable lunar intelligence in it. The mission will hold a special place in the history of mankind because of cryptocurrency. With the launch of the Falcon 9, Dogecoin will become the only cryptocurrency to finance a space mission. We have been discussing a lot about Doge cryptocurrency here. Let’s know in detail about it.
What is DOGE Cryptocurrency?
If you are a novice to cryptocurrency and don’t know anything about DOGE cryptocurrency, you will first have to understand what cryptocurrency is.
Cryptocurrency is a digital or virtual currency. It is also known as a digital asset that works on the blockchain. The cryptocurrency is secured by cryptography. Bitcoin is one of the most popular cryptocurrencies that introduced in 2009.
Dogecoin was created in 2013 by the IBM software engineers and an Adobe Engineer. The currency has the face of viral dog meme that makes it controversial, but it has no effects on its value. Doge cryptocurrency was launched to make fun of bitcoin and other cryptocurrencies in the market. At that time, its developers must not have thought that their currency will become the first one to step out from the boundaries of earth and finance a space mission with a dog face on it. Moreover, the performance of cryptocurrency is better than its counterparts. So, its value has also increased in the crypto market. Elon Musk is pretty interested in this animal faced cryptocurrency, and this is why Dogecoin will be funding SpaceX’s mission.
How will cryptocurrency finance DOGE-1 Satellite Mission?
Elon Musk shares the news of Dogecoin to fund his next space mission with a tweet. He wrote, “SpaceX launching satellite Doge-1 to the moon next year. Mission paid for in Doge. 1st crypto in space. 1st meme in space. To the mooooonnn!!”
According to an official statement by the SpaceX Vice President of Commercial Sales Tom Ochinero, the Doge as proven to be a “fast, reliable, and cryptographically secure digital currency that operates when traditional banks cannot” and is “sophisticated enough to finance a commercial Moon mission in full.” Now the SpaceX will do all the transitions for its SapceX’s DOGE -1 Satellite mission in Dogecoin. With this transaction, cryptocurrencies will become more powerful, and people will trust them for investment. You never know that Elon Musk soon announces that you can now buy Tesla cars with Dogecoin or other cryptocurrencies.