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Bitcoin as an Interplanetary Monetary Standard with Proof-of-Transit Timestamping

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Overview

Paper Summary › Explain Like I'm Five › Conflicts of Interest › Identified Limitations › Rating Explanation › Good to know › Topic Hierarchy › File Information ›

Paper Summary

Paperzilla title
Bitcoin on Mars: Can it work? (Spoiler: Maybe, but with lots of caveats)

This paper proposes a system for using Bitcoin between Earth and Mars, addressing the challenges of long communication delays. It introduces "Proof-of-Transit Timestamping" (PoTT) to track Bitcoin transactions across space and suggests using existing technologies like the Lightning Network and sidechains for faster payments and settlements.

Explain Like I'm Five

Imagine sending Bitcoin to someone on Mars. Because messages take so long, this paper suggests a way to confirm the transaction went through and prevent fraud. It also explores ways to speed up payments.

Possible Conflicts of Interest

None identified.

Identified Limitations

Theoretical proposal
The paper is primarily a theoretical proposal and lacks real-world testing or implementation. The feasibility and security of the proposed system remain to be validated in practice.
Dependence on DTN
The system heavily relies on the Delay/Disruption-Tolerant Networking (DTN) model, which is still under development and might not be mature enough for reliable interplanetary communication.
Assumption of honest relays
The security analysis assumes at least one honest relay on each path, which might not be realistic in a decentralized and potentially adversarial environment.
Complexity
The proposed system, involving PoTT, Lightning Network, and sidechains, is complex and requires significant coordination between different components, increasing the risk of errors and vulnerabilities.
Lack of empirical data
The paper lacks empirical data to support the performance and feasibility claims. For example, the latency and bandwidth limitations of interplanetary communication are not thoroughly addressed with real-world measurements.

Rating Explanation

This paper presents an interesting theoretical framework, but its feasibility and practicality are questionable due to the dependence on immature technologies and the lack of real-world testing. The paper's theoretical nature and several assumptions made in the security analysis limit its impact. However, it opens up avenues for future research and development in the field of interplanetary payments.

Good to know

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File Information

Original Title: Bitcoin as an Interplanetary Monetary Standard with Proof-of-Transit Timestamping
Uploaded: September 11, 2025 at 01:33 PM
Privacy: Public