Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems

Blockchain as a decentralized distributed ledger is revolutionizing the world with a secure design data storage mechanism. In the case of Bitcoin, mining involves a process of packing transactions in a block by calculating a random number termed as a nonce. The nonce calculation is done by special n...

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Autores principales:	Zeeshan Raza, Irfan ul Haq, Muhammad Muneeb, Omair Shafiq
Formato:	article
Lenguaje:	EN
Publicado:	Hindawi Limited 2021
Materias:	Computer software QA76.75-76.765
Acceso en línea:	https://doaj.org/article/0983825be5154239a9066d8cea2e9403
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id	oai:doaj.org-article:0983825be5154239a9066d8cea2e9403
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spelling	oai:doaj.org-article:0983825be5154239a9066d8cea2e94032021-11-08T02:36:52ZEnergy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems1875-919X10.1155/2021/9996132https://doaj.org/article/0983825be5154239a9066d8cea2e94032021-01-01T00:00:00Zhttp://dx.doi.org/10.1155/2021/9996132https://doaj.org/toc/1875-919XBlockchain as a decentralized distributed ledger is revolutionizing the world with a secure design data storage mechanism. In the case of Bitcoin, mining involves a process of packing transactions in a block by calculating a random number termed as a nonce. The nonce calculation is done by special nodes called miners, and all the miners follow the Proof of Work (PoW) mining mechanism to perform the mining task. The transaction verification time in PoW-based blockchain systems, i.e., Bitcoin, is much slower than other digital transaction systems such as PayPal. It needs to be quicker if a system adapts PoW-based blockchain solutions, where there are thousands of transactions being computed at a time. Besides this, PoW mining also consumes a lot of energy to calculate the nonce of a block. Mining pools resulting into aggregated hashpower have been a popular solution to speed up the PoW mining, but they can be attacked by using different types of attacks. Parallel computing can be used to speed up the solo mining methods by utilizing the multiple processes of the contributing processors. In this research, we analyze various consensus mechanisms and see that the PoW-based blockchain systems have the limitations of low transaction confirmation time and high energy consumption. We also analyze various types of consensus layer attacks and their effects on miners and mining pools. To tackle these issues, we propose parallel PoW nonce calculation methods to accelerate the transaction verification process especially in solo mining. We have tested our techniques on different difficulty levels, and our proposed techniques yield better results than the traditional nonce computation mechanisms.Zeeshan RazaIrfan ul HaqMuhammad MuneebOmair ShafiqHindawi LimitedarticleComputer softwareQA76.75-76.765ENScientific Programming, Vol 2021 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Computer software QA76.75-76.765
spellingShingle	Computer software QA76.75-76.765 Zeeshan Raza Irfan ul Haq Muhammad Muneeb Omair Shafiq Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
description	Blockchain as a decentralized distributed ledger is revolutionizing the world with a secure design data storage mechanism. In the case of Bitcoin, mining involves a process of packing transactions in a block by calculating a random number termed as a nonce. The nonce calculation is done by special nodes called miners, and all the miners follow the Proof of Work (PoW) mining mechanism to perform the mining task. The transaction verification time in PoW-based blockchain systems, i.e., Bitcoin, is much slower than other digital transaction systems such as PayPal. It needs to be quicker if a system adapts PoW-based blockchain solutions, where there are thousands of transactions being computed at a time. Besides this, PoW mining also consumes a lot of energy to calculate the nonce of a block. Mining pools resulting into aggregated hashpower have been a popular solution to speed up the PoW mining, but they can be attacked by using different types of attacks. Parallel computing can be used to speed up the solo mining methods by utilizing the multiple processes of the contributing processors. In this research, we analyze various consensus mechanisms and see that the PoW-based blockchain systems have the limitations of low transaction confirmation time and high energy consumption. We also analyze various types of consensus layer attacks and their effects on miners and mining pools. To tackle these issues, we propose parallel PoW nonce calculation methods to accelerate the transaction verification process especially in solo mining. We have tested our techniques on different difficulty levels, and our proposed techniques yield better results than the traditional nonce computation mechanisms.
format	article
author	Zeeshan Raza Irfan ul Haq Muhammad Muneeb Omair Shafiq
author_facet	Zeeshan Raza Irfan ul Haq Muhammad Muneeb Omair Shafiq
author_sort	Zeeshan Raza
title	Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
title_short	Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
title_full	Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
title_fullStr	Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
title_full_unstemmed	Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems
title_sort	energy efficient multiprocessing solo mining algorithms for public blockchain systems
publisher	Hindawi Limited
publishDate	2021
url	https://doaj.org/article/0983825be5154239a9066d8cea2e9403
work_keys_str_mv	AT zeeshanraza energyefficientmultiprocessingsolominingalgorithmsforpublicblockchainsystems AT irfanulhaq energyefficientmultiprocessingsolominingalgorithmsforpublicblockchainsystems AT muhammadmuneeb energyefficientmultiprocessingsolominingalgorithmsforpublicblockchainsystems AT omairshafiq energyefficientmultiprocessingsolominingalgorithmsforpublicblockchainsystems
_version_	1718443065825296384

Energy Efficient Multiprocessing Solo Mining Algorithms for Public Blockchain Systems

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