Cryptology ePrint Archive: Report 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.

Category / Keywords: foundations / BlockChain

Date: received 18 Feb 2018

Contact author: bernard mans at mq edu au

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Version: 20180222:154503 (All versions of this report)

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