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| Main Authors: | , , |
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| Format: | Preprint |
| Published: |
2024
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| Subjects: | |
| Online Access: | https://arxiv.org/abs/2404.04729 |
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| _version_ | 1866911829574287360 |
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| author | Gemajli, Agron Patel, Shivam Bradford, Phillip G. |
| author_facet | Gemajli, Agron Patel, Shivam Bradford, Phillip G. |
| contents | 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 CO$_2$ 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. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2404_04729 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Towards a low carbon proof-of-work blockchain Gemajli, Agron Patel, Shivam Bradford, Phillip G. Cryptography and Security 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 CO$_2$ 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. |
| title | Towards a low carbon proof-of-work blockchain |
| topic | Cryptography and Security |
| url | https://arxiv.org/abs/2404.04729 |