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Bitcoin energy index : a transparent and dynamic model

Roos, M.C. de (2021) Bitcoin energy index : a transparent and dynamic model.

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Abstract:Blockchain, the technology used by the cryptocurrency bitcoin, has proven to be very useful in other applications than just cryptocurrencies. It allows for options such as electronic voting and recording of history of transactions/trades, which cannot be tampered with once it has been added to the chain. Even though most properties of blockchain seem very promising like transparency, decentralization and anonymity, it is also very resource demanding. Because of the decentralization and so-called consensus protocols, the technology consumes a lot of energy. Some applications already consume more energy than entire countries. However, how much energy these applications consume is unclear and hard to measure. In this paper, a dynamic model will be presented which can be used to predict the energy consumption of bitcoin's network in the future.
Item Type:Essay (Bachelor)
Clients:
Unknown organization, Borne, Nederland
Faculty:EEMCS: Electrical Engineering, Mathematics and Computer Science
Subject:43 environmental science, 83 economics
Programme:Computer Science BSc (56964)
Link to this item:http://purl.utwente.nl/essays/86882
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