SpaceChain (SPC) is a community-based platform that seeks to allow entrepreneurs worldwide to implement ideas that align with the blockchain-based outer space development ideology. SpaceChain strives to empower individuals to become an essential part of the space revolution by merging blockchain technology with present astronautical resources and capabilities. Also, the platform aims to be a leader in developing solutions that will allow humankind to prosper in the emerging space era.

According to the whitepaper, SpaceChain seeks to solve the issues related to the aerospace industry, such as lack of a democratic space cooperation alliance, lack of public contribution to the industry, and an imbalance between government and commercial enterprises. As a solution, SpaceChain aims to break down existing internal obstacles in the aerospace sector by establishing an alliance between companies and blockchains. Thereby, to achieve this goal, the project intends to create a SpaceChain OS, an operating system that enables a realistic network in space. The SpaceChain OS seeks to encrypt transmitted data with blockchain technology to provide total security while incorporating blockchain into the operating system to ensure that each satellite runs safely.

SPC is the native token of the SpaceChain platform. The SPC token seeks to connect to the SpaceChain OS, allowing developers to upload apps on the network. Additionally, the token intends to enable data and programs to be stored and executed on SpaceChain satellites. Therefore, to run the apps, SPC tokens are required. As a utility token, SPC works similar to a ticket to access an app's feature or storage. 

Further, SpaceChain intends to value the space applications in its decentralized marketplace by utilizing SPC tokens. This utility seeks to give the SPC token a demand and value proposition as it necessitates token usage in the SpaceChain ecosystem.

Zee Zheng and Jeff Garzik cofounded the SpaceChain platform in 2017. Zee Zheng serves as the CEO, and Jeff Garzik serves as the CTO of SpaceChain. Garzik is a blockchain pioneer and a former core developer of Bitcoin. In March 2018, the platform completed the SpaceChain OS development.