30s Summary

Blockchain transactions and Bitcoin use on Mars could be made feasible through neuromorphic computing, which uses real-time pattern recognition for data processing, similar to our brains. The neuromorphic chips could help analyze data instantly, allowing astronauts to carry out transactions with Earth despite significant communication delays. The technology could potentially set up a blockchain network on Mars and process clusters of transactions at regular intervals, making the dream of blockchain transactions in space a closer reality.

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Let’s imagine this: you’ve made it to Mars but there’s no money to buy a pizza! How are you going to use Bitcoin or trade your favorite NFTs from millions of miles away?

The biggest problem right now is that Mars doesn’t have any systems in place to carry out these financial transactions. This isn’t helped by the fact that communicating with Earth from Mars takes about 22 minutes one way – 44 minutes round trip. Add things like signal problems and data corruption into the mix and you see why it could be a really big problem.

But don’t worry, there might be a work around on the horizon. It’s called neuromorphic computing and it could be the answer future colonists need.

To break it down, here on Earth, we’re running on cloud computing. Basically, the processing of data happens somewhere away from the actual device you’re using. Neuromorphic computers are different though. They’re designed to solve big data problems using real-time pattern recognition – like our brains! They make use of neurons that process data in memory instead of a traditional CPU which makes them super quick.

This is great for situations where you need to analyze data in an instant. Outer space is one of these places, so Mars colonists are in luck!

But, there are no silver linings without a little cloud. One type of neuromorphic computer chips, called self-compliant chips, run on materials that can act a little funky with different devices. But recent progress from researchers in South Korea might just be the breakthrough we need. They’ve managed to overcome these unpredictable behaviors, which could revolutionize edge computing.

Back on Earth, doing a blockchain transaction is a piece of cake. But take away all the infrastructure that gets this done, and you won’t be able to mine cryptocurrency or make blockchain transactions. Setting up the same infrastructure on Mars could take forever.

Elon Musk reckons we’ll be on Mars way before we’re able to set that up. And while Bitcoin might not be the first thing on an astronaut’s mind, they will eventually need a reliable way to carry out transactions with Earth. This is where neuromorphic computers come in handy.

Working alongside traditional computers, neuromorphic ones could let Mars dwellers make transactions that normally need real-time connection and advanced infrastructure. Basically, with these specialized chips, we could see a blockchain network set up on Mars.

Without neuromorphic processing, blockchain actions would have to be started on Mars, sent to Earth to be deciphered, sent back to Mars to be verified and then sent back to Earth again for final verification. This round trip could take days!

While neuromorphic computers won’t solve the transmission delay, they could process clusters of transactions at a time.

This means updates and pricing alignment between Earth and Mars could potentially happen once an hour.

There you have it – blockchain transactions in space might be a lot closer than we thought!

Source: Cointelegraph