Researchers have developed an innovative concept called Proof-of-Transit Timestamping (PoTT), which could make Bitcoin transactions between Earth and Mars a reality. The proposed idea is based on satellite communication channels and a timestamping system that allows for tracking the transaction route at each stage of its journey.
This is reported by Finway
How Proof-of-Transit Timestamping Works
PoTT envisions that Bitcoin payments pass through a chain of relays, which include ground stations, satellites, and potentially space nodes on the Moon or Mars. At each point, the transaction receives a timestamp, enabling a clear tracking of its path through the network.
The authors’ calculations show that using the Lightning Network allows a transaction to reach Mars in just three minutes under optimal conditions. However, in the case of poor connectivity, the delay can increase to 22 minutes. For standard Bitcoin transfers, an additional 10 minutes is added for block formation, along with the signal delay time.
Technological Foundation and Implementation Prospects
The foundation for implementing PoTT is NASA’s optical communication systems and the already operational Starlink satellites. As noted by José E. Puente, the technology is nearly ready for testing and can be simulated for interplanetary delays as early as today.
The concept also considers situations when direct communication with Mars becomes impossible, such as during solar conjunction every 26 months. In such cases, routing signals through additional relay satellites is planned, allowing for the bypassing of problematic communication areas.
The idea of interplanetary transactions is not new: in 2018, Blockstream connected the Bitcoin ecosystem with a satellite network, and in 2020, Spacechain conducted a transaction from the International Space Station. However, Puente’s development offers a detailed timestamping system specifically for interplanetary transfers for the first time.
“The essence is that the payment passes through a chain of relays — ground stations, satellites, and potentially lunar nodes. At each stop, the message receives a timestamp, allowing the entire transaction route to be tracked.”
So far, the implementation of PoTT depends on the emergence of permanent users on Mars. However, the project authors are confident that with the development of satellite infrastructure and the growing interest in exploring the Red Planet, conditions will be created for launching interplanetary financial transactions in the future.