7,777 research outputs found
Blockchain moderated by empty blocks to reduce the energetic impact of crypto-moneys
While cryptocurrencies and blockchain applications continue to gain
popularity, their energy cost is evidently becoming unsustainable. In most
instances, the main cost comes from the required amount of energy for the
Proof-of-Work, and this cost is inherent to the design. In addition, useless
costs from discarded work (e.g., the so-called Forks) and lack of scalability
(in number of users and in rapid transactions) limit their practical
effectiveness.
In this paper, we present an innovative scheme which eliminates the nonce and
thus the burden of the Proof-of-Work which is the main cause of the energy
waste in cryptocurrencies such as Bitcoin. We prove that our scheme guarantees
a tunable and bounded average number of simultaneous mining whatever the size
of the population in competition, thus by making the use of nonce-based
techniques unnecessary, achieves scalability without the cost of consuming a
large volume of energy. The technique used in the proof of our scheme is based
on the analogy of the analysis of a green leader election. The additional
difference with Proof-of-Work schemes (beyond the suppression of the nonce
field that is triggering most of the waste), is the introduction of (what we
denote as) "empty blocks" which aim are to call regular blocks following a
staircase set of values. Our scheme reduces the risk of Forks and provides
tunable scalability for the number of users and the speed of block generation.
We also prove using game theoretical analysis that our scheme is resilient to
unfair competitive investments (e.g., "51 percent" attack) and block nursing.Comment: preliminary version appeared in CryBlock'2019, The IEEE 2nd Workshop
on Cryptocurrencies and Blockchains for Distributed Systems (co-located with
INFOCOM 2019), April 29th, 2019. Paris, France. Green Mining: toward a less
energetic impact of cryptocurrencies, P. Jacquet and B. Mans, IEEE Press, 6
page
Energy-recycling Blockchain with Proof-of-Deep-Learning
An enormous amount of energy is wasted in Proofof-Work (PoW) mechanisms
adopted by popular blockchain applications (e.g., PoW-based cryptocurrencies),
because miners must conduct a large amount of computation. Owing to this, one
serious rising concern is that the energy waste not only dilutes the value of
the blockchain but also hinders its further application. In this paper, we
propose a novel blockchain design that fully recycles the energy required for
facilitating and maintaining it, which is re-invested to the computation of
deep learning. We realize this by proposing Proof-of-Deep-Learning (PoDL) such
that a valid proof for a new block can be generated if and only if a proper
deep learning model is produced. We present a proof-of-concept design of PoDL
that is compatible with the majority of the cryptocurrencies that are based on
hash-based PoW mechanisms. Our benchmark and simulation results show that the
proposed design is feasible for various popular cryptocurrencies such as
Bitcoin, Bitcoin Cash, and Litecoin.Comment: 5 page
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