Energy-Efficient Consensus Mechanisms for Sustainable Blockchain Networks
Keywords:
Energy efficiency, consensus mechanismsAbstract
Environmental concerns are driving energy-efficient blockchain consensus methods. Energy- and environment-intensive PoW consensus methodologies are questioned. Energy-efficient consensus research to lessen blockchain's environmental effect. Bitcoin miners use complex cryptographic algorithms to validate transactions and maintain PoW consensus. PoW secures and decentralizes blockchain networks, but regulators and environmentalists hate its energy use. We investigate PoW's environmental impacts and consensus possibilities.
A common PoW alternative is PoS. Financially trustworthy validators "stake" to save blockchain energy by decreasing computations. Energy efficiency, network security, and decentralization are assessed for Ethereum 2.0 and Cardano PoS.
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