相关论文: Leveraging Bitcoin Mining Machines in Demand-Respo…
The electricity sector is facing the dual challenge of supporting increasing level of demand electrification while substantially reducing its carbon footprint. Among electricity demands, the energy consumption of cryptocurrency mining data…
Proof-of-work computation used in cryptocurrencies has witnessed significant growth in the U.S. and many other regions around the world. One of the most significant bottlenecks for the scalable deployment of such computation is its energy…
Demand flexibility plays a pivotal role in modern power systems with high penetration of variable energy resources. In recent years, one of the fastest-growing flexible energy demands has been proof-of-work-based cryptocurrency mining…
The growing penetration of renewable generation in distribution networks, primarily deployed by end-use electricity customers, is changing the traditional load profile and inevitably makes supply-load balancing more challenging for grid…
This study examines the feasibility and profitability of utilizing surplus electricity for Bitcoin mining. Surplus electricity refers to the remaining electricity after net metering, which can be repurposed for Bitcoin mining to improve…
Blockchain-based cryptocurrencies prioritize transactions based on their fees, creating a unique kind of fee market. Empirically, this market has failed to yield stable equilibria with predictable prices for desired levels of service. We…
The increasing share of volatile renewable electricity production motivates demand response. Substantial potential for demand response is offered by flexible processes and their local multi-energy supply systems. Simultaneous optimization…
In recent years, power grids have seen a surge in large cryptocurrency mining firms, with individual consumption levels reaching 700MW. This study examines the behavior of these firms in Texas, focusing on how their consumption is…
Relay Mining presents a scalable solution employing probabilistic mechanisms, crypto-economic incentives, and new cryptographic primitives to estimate and prove the volume of Remote Procedure Calls (RPCs) made from a client to a server.…
In this paper, we developed an Electromagnetic Transient (EMT) model tailored for large cryptocurrency mining loads to understand the cross-interaction of these loads with the electric grid. The load model has been built using…
The Bitcoin Lightning Network (LN) is designed to improve the scalability of blockchain systems by using off-chain payment paths to settle transactions in a faster, cheaper, and more private manner. This work aims to empirically study LN's…
This study explores the intersection of technological innovation and environmental sustainability in the context of Bitcoin mining. With Bitcoin's growing adoption, concerns surrounding the energy consumption and environmental impact of…
Blockchain is a technology that provides a distributed ledger that stores previous records while maintaining consistency and security. Bitcoin is the first and largest decentralized electronic cryptographic system that uses blockchain…
We develop a dynamic model of the Bitcoin market where users set fees themselves and miners decide whether to operate and whom to validate based on those fees. Our analysis reveals how, in equilibrium, users adjust their bids in response to…
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…
Bitcoin is currently subject to a significant pay-for-speed trade-off. This is caused by lengthy and highly variable transaction confirmation times, especially during times of congestion. Users can reduce their transaction confirmation…
Demand response is widely employed by today's data centers to reduce energy consumption in response to the increasing of electricity cost. To incentivize users of data centers participate in the demand response programs, i.e., breaking the…
The Lightning Network is a so-called second-layer technology built on top of the Bitcoin blockchain to provide "off-chain" fast payment channels between users, which means that not all transactions are settled and stored on the main…
The power sector is responsible for 32 percent of global greenhouse gas emissions. Data centers and cryptocurrencies use significant amounts of electricity and contribute to these emissions. Demand-side flexibility of data centers is one…
The increasing penetration of renewable energy in recent years has led to more uncertainties in power systems. In order to maintain system reliability and security, electricity market operators need to keep certain reserves in the…