A new study from Crypto-News-Flash.com presents a groundbreaking proposal for sending Bitcoin to Mars, suggesting that transactions could be made in just three minutes or less. The method, called Proof-of-Transit Timestamping (PoTT), leverages existing space communication infrastructure to provide secure and verifiable transaction receipts across the vast distances of space. 3-minute transfers are possible through this system due to its use of satellites and relays that append timestamps to each Bitcoin transaction as it travels from Earth to Mars. 22 minutes under poor conditions is the maximum, according to the researchers. This system follows on from previous efforts to expand Bitcoin’s reach beyond Earth, such as connecting it to satellites in 2018 for increased resilience and SpaceChain’s first-ever Bitcoin transaction from the International Space Station. PoTT addresses the challenges posed by solar conjunctions with strategically placed relays around the Sun, ensuring continuous transactions. The researchers also emphasize that while Mars is not yet capable of receiving Bitcoin payments directly, their system can be tested on Earth through simulations. Jose E. Puente and his colleague Carlos Puente have developed this concept to ensure interplanetary financial transactions are possible in the future. The technology is designed to be planet agnostic, supporting transactions with other celestial bodies like the Moon or other planets within a star’s habitable zone, as well as Earth and Mars. Elon Musk, a notable figure who previously questioned Bitcoin’s use for Martian settlements due to its 10-minute block times, has now changed his stance. He sees PoTT and Lightning Network transactions being key in enabling interplanetary trade for future Martian colonies. With this new technology, the potential for an industry-standard monetary system on Mars is closer than ever before, paving the way for a seamless financial ecosystem beyond Earth’s borders.