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A Study on the Issue of Blockchain’s Energy Consumption

  • Eshani GhoshEmail author
  • Baisakhi Das
Conference paper
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 1065)

Abstract

Blockchain technology is one of the biggest innovative technology that has been developed and has potential usage in fields of education, business and industries. Since the creation of bitcoins, blockchain has emerged as a means for storing digital information without the intervention of any third parties. However, now, it is used for various other applications than just being a simple distributed ledger. With time, it has imposed a larger impact on different fields of economy and has gained popularity for its immutability. But, there are some issues faced by blockchain. One of such issues is the energy consumption. Blockchains are found to consume exorbitant amount of energy because of the algorithm followed for its creation. This paper explores the blockchain technology and the impacts of energy consumption due to the technology used.

Keywords

Blockchain Proof of work Energy consumption 

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Copyright information

© Springer Nature Singapore Pte Ltd. 2020

Authors and Affiliations

  1. 1.Department of Information TechnologyInstitute of Engineering and ManagementKolkataIndia

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