In theory, BTC only works fairly on planet Earth. If a colony on Mars wanted to mine BTC, they'd be at a huge disadvantage since it would take about 3 minutes to transmit a valid block back to Earth. In the meantime, an earth miner could have already found the next block.
Martians therefore, might have a justification to create their own PoW currency. Either that, or we establish a "Solar Coin" with very long block times (1 hr or 1 earth day) that way every planet in our solar system has nearly the same advantage to mine blocks.
In theory, BTC only works fairly on planet Earth.
If a colony on Mars wanted to mine BTC, they'd be at a huge disadvantage since it would take about 3 minutes to transmit a valid block back to Earth. In the meantime, an earth miner could have already found the next block.
Martians therefore, might have a justification to create their own PoW currency. Either that, or we establish a "Solar Coin" with very long block times (1 hr or 1 earth day) that way every planet in our solar system has nearly the same advantage to mine blocks.
https://unchained.com/blog/law-of-hash-horizons/