Green Mining: toward a less energetic impact of cryptocurrencies

Philippe Jacquet; Bernard Mans

Paper 2018/197

Green Mining: toward a less energetic impact of cryptocurrencies

Philippe Jacquet and Bernard Mans

Abstract

While cryptocurrencies continue to gain popularity, their energy cost is increasingly becoming unsustainable. In this paper, we present an innovative scheme which eliminates the burden of the proof of work which is the main cause of the energy waste in cryptocurrencies such as Bitcoin. The scheme is based on a green leader election scheme which guarantees a bounded average number of simultaneous mining whatever the size of the population in competition.

Metadata

Available format(s): PDF
Category: Foundations
Publication info: Preprint.
Keywords: BlockChain
Contact author(s): bernard mans @ mq edu au
History: 2018-02-22: received
Short URL: https://ia.cr/2018/197
License: CC BY

BibTeX

@misc{cryptoeprint:2018/197,
      author = {Philippe Jacquet and Bernard Mans},
      title = {Green Mining: toward a less energetic impact of cryptocurrencies},
      howpublished = {Cryptology {ePrint} Archive, Paper 2018/197},
      year = {2018},
      url = {https://eprint.iacr.org/2018/197}
}