5Sustainable Futures: Navigating Blockchain’s Energy Dilemma
Anand Rajavat1, Vivek Bhardwaj2, Navjeet Kaur3, Romil Rawat4, Anjali Rawat5 and Gautam Singh Jadon4*
1Department of Computer Science Engineering, Director, Shri Vaishnav Institute of Information Technology, Shri Vaishnav Vidyapeeth Vishwavidyalaya, Indore, India
2School of Computer Science and Engineering, Manipal University Jaipur, Jaipur, India
3Apex Institute of Technology (CSE), Chandigarh University, Mohali, Punjab, India
4Department of Computer Science & Engineering, Shri Vaishnav Vidyapeeth Vishwavidyalaya, Indore, M.P., India
5Apostelle Overseas Education (AOE), Ujjain, India
Abstract
Blockchain technology, lauded for its revolutionary potential, faces a critical hurdle that threatens its sustainable integration into our evolving digital landscape: its significant energy consumption. This paper, “Sustainable Futures: Navigating Blockchain’s Energy Dilemma,” delves into the intricate relationship between blockchain technology and energy consumption, aiming to explore viable pathways toward a sustainable blockchain future. The research begins by dissecting the foundational aspects of blockchain, elucidating its operational mechanisms, and delineating the evolution of consensus mechanisms. This sets the stage to dissect the energy dilemma inherent in blockchain technology, particularly prevalent in proof-of-work (PoW) consensus mechanisms. The considerable environmental impact, juxtaposed with the transformative ...
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