I have figured out a solution to it via chat, turns out if i turn anti aliasing completely off the problem goes away

Yeah so what do i have to do?

i have to go atm, i will post updates later on, thank you for addressing the issue

The effect is multicoloured depending on the angle, it can go from green to red depending on the angle. which is why i said it seems like a rainbow split effect

ok one second here is another

also, the screenshots are giving white backgrounds now, since the update, when before i could take proper ones. i have tried tweaking settings but cant seem to find a fix. turning on bloom seems to generate the black background as usually

The reason it is small is because it only happens at a distance, i can take some more if you like

More than one user on chat seemed to have this problem. here is a link to an image showing the problem Link to Picture. The picture was taken directly from starmade and was not reformatted in any way, as it looks like that in game