International Journal of Network Security & Its Applications (IJNSA) - ERA, WJCI Indexed
ISSN: 0974 - 9330 (Online); 0975 - 2307 (Print)
Webpage URL: https://airccse.org/journal/ijnsa.html
Towards a Low Carbon Proof-of-work Blockchain
Agron Gemajli, Shivam Patel, and Phillip G. Bradford, University of Connecticut, USA
Abstract
Proof of Work (PoW) blockchains burn a lot of energy. Proof-of-work algorithms are expensive by design and often only serve to compute blockchains. In some sense, carbon-based and non-carbon based regional electric power is fungible. So the total carbon and non-carbon electric power mix plays a role. Thus, generally PoW algorithms have large CO2 footprints solely for computing blockchains. A proof of technology is described towards replacing hashcash or other PoW methods with a lottery and proof-of-VM (PoVM) emulation. PoVM emulation is a form of PoW where an autonomous blockchain miner gets a lottery ticket in exchange for providing a VM (virtual Machine) for a specified period. These VMs get their jobs from a job queue. Managing and ensuring, by concensus, that autonomous PoVMs are properly configured and running as expected gives several gaps for a complete practical system. These gaps are discussed. Our system is similar to a number of other blockchain systems. We briefly survey these systems. This paper along with our proof of technology was done as a senior design project.
Keywords
Blockchain, low carbon blockchain
Abstract URL: http://aircconline.com/abstract/ijnsa/v16n2/16224ijnsa03.html
Original Source URL: https://aircconline.com/ijnsa/V16N2/16224ijnsa03.pdf
Volume URL: https://airccse.org/journal/jnsa24_current.html
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