Related papers: The lower energy consumption in cryptocurrency min…
Blockchain-based cryptocurrencies have become an extremely important, highly-used, technology. A major criticism of cryptocurrencies, however, is their energy consumption. In May 2022 Bitcoin alone was reported to be consuming 150…
We outline a quantum-enabled blockchain architecture based on a consortium of quantum servers. The network is hybridised, utilising digital systems for sharing and processing classical information combined with a fibre--optic infrastructure…
The Bitcoin network is burning a large amount of energy for mining. In this paper we estimate the lower bound for the global energy cost for a period of ten years from 2010, taking into account changing oil costs, improvements in hashing…
Bitcoin is a "crypto currency", a decentralized electronic payment scheme based on cryptography which has recently gained excessive popularity. Scientific research on bitcoin is less abundant. A paper at Financial Cryptography 2012…
Bitcoin is a digital currency and payment system based on classical cryptographic technologies which works without a central administrator such as in traditional currencies. It has long been questioned what the impact of quantum computing…
Blockchains and cryptocurrencies disrupted the conversion of energy into a medium of exchange. Numerous applications for blockchains and cryptocurrencies are now envisioned for purposes ranging from inventory control to banking…
The transition to post-quantum cryptography in blockchain systems such as Bitcoin and Ethereum is often framed as a purely cryptographic problem. In practice, it also presents significant economic and infrastructural challenges: in globally…
Research and applications in Machine Learning are limited by computational resources, while 1% of the world's electricity goes into calculating 34 billion billion SHA-256 hashes per second, four orders of magnitude more than the 200…
Bitcoin mining presents a significant economic incentive for efficient hashing and broadcast of data, both parameters stemming from the Proofs of Work used to advance the network. This incentive has led to the development of Bitcoin…
We propose a blockchain architecture in which mining requires a quantum computer. The consensus mechanism is based on proof of quantum work, a quantum-enhanced alternative to traditional proof of work that leverages quantum supremacy to…
The enormous power consumption of Bitcoin has led to undifferentiated discussions in science and practice about the sustainability of blockchain and distributed ledger technology in general. However, blockchain technology is far from…
Quantum algorithms can break factoring and discrete logarithm based cryptography and weaken symmetric cryptography and hash functions. In order to estimate the real-world impact of these attacks, apart from tracking the development of…
Our aim is to determine conditions for quantum computing technology to give rise to security risks associated with quantum Bitcoin mining. Specifically, we determine the speed and energy efficiency a quantum computer needs to offer an…
Cryptocurrency mining is an energy-intensive process that presents a prime candidate for hardware acceleration. This work-in-progress presents the first coprocessor design for the ASIC-resistant CryptoNight-Haven Proof of Work (PoW)…
Cryptocurrencies that are based on Proof-of-Work (PoW) often rely on special purpose hardware to perform so-called mining operations that secure the system, with miners receiving freshly minted tokens as a reward for their work. A notable…
Estimates of energy usage in layers of computing from devices to algorithms have been determined and analyzed. Building on the previous analysis [3], energy needed from single devices and systems including three large-scale computing…
What happens to mining when the Bitcoin price changes, when there are mining supply shocks, the price of energy changes, or hardware technology evolves? We give precise answers based on the technical forces and incentives in the system. We…
How much energy does a quantum computer consume? Are they more efficient than their classical counterparts? In this work, we make a step towards answering these questions. We define the energy efficiency of a quantum computer as the ratio…
This paper presents CERMET, an energy-efficient hardware architecture designed for hardware-constrained cryptosystems. CERMET employs a base cryptosystem in conjunction with network coding to provide both information-theoretic and…
Background: During the last years, there has been a lot of discussion and estimations on the energy consumption of Bitcoin miners. However, most of the studies are focused on estimating energy consumption, not in exploring the factors that…