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    Home»Technology»Making blockchain stop wasting energy by getting it to manage energy
    Technology

    Making blockchain stop wasting energy by getting it to manage energy

    IsabellaBy IsabellaOctober 25, 2022No Comments1 Min Read
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    Making blockchain stop wasting energy by getting it to manage energy
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    Enlarge / Managing a microgram might be a case where blockchain is actually useful. (credit: Getty Images)

    One of the worst features of blockchain technologies like cryptocurrency and NFTs is their horrific energy use. When we should be wringing every bit of efficiency out of our electricity use, most blockchains require computers to perform pointless calculations repeatedly.

    The obvious solution is to base blockchains on useful calculations—something we might need to do anyway. Unfortunately, the math involved in a blockchain has to have a very specific property: The solution must be difficult to calculate but easy to verify. Nevertheless, a number of useful calculations have been identified as possible replacements for the ones currently being used in many systems.

    A paper released this week adds another option to this list. Optimization problems are notoriously expensive in terms of computations, but the quality of a solution is relatively easy to evaluate. And in this case, the systems being optimized are small energy grids, meaning that this approach could partly offset some of a blockchain’s horrific energy usage.

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    Previous ArticleHightouch, which offers tools to sync data from disparate sources, raises a $40M Series B led by Iconiq Growth at a $450M post-money valuation (Paul Sawers/VentureBeat)
    Next Article Axie Infinity’s economics make little sense and it is reminiscent of a Ponzi scheme, but the strength and engagement of its community may sustain it long term (Adi Robertson/The Verge)
    Isabella
    Isabella

    Isabella Noor is Director of Marketing at FastFoxNews. With 8+ years experience in public relations and marketing, she loves talking about content creation, SEO & Digital Marketing.

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