학술논문

An Efficient Energy Consumption of a Miner Node in a Local Blockchain Network
Document Type
Conference
Source
2023 IEEE 20th India Council International Conference (INDICON) India Council International Conference (INDICON), 2023 IEEE 20th. :1341-1346 Dec, 2023
Subject
Communication, Networking and Broadcast Technologies
Components, Circuits, Devices and Systems
Computing and Processing
Fields, Waves and Electromagnetics
General Topics for Engineers
Geoscience
Power, Energy and Industry Applications
Robotics and Control Systems
Signal Processing and Analysis
Energy consumption
Power demand
Costs
Electricity
Hardware
Blockchains
Stakeholders
Climate change
Energy management
Global warming
Environmental monitoring
Power measurement
Sustainable development
Ecodesign
Blockchain
Local Ethereum Network
Energy Consumption
Hashrate
Miner
Language
ISSN
2325-9418
Abstract
A miner node in a blockchain network is important in validating and incorporating transactions into the blockchain ledger. The mining process demands a good amount of computational power, resulting in high energy consumption. Energy usage has notable environmental consequences, notably in the form of increased carbon emissions, which contribute to global warming and climate change. Existing research works evaluate the energy consumption of the entire blockchain network, encompassing factors like total network energy and the number of nodes. There is a requirement for research work specifically addressing miner nodes within local blockchain networks. In this paper, we present an approach to assess the energy consumption of miner nodes in local blockchain networks. Our analysis considers several key factors that influence energy utilization, including computational power (hashrate), power consumption, and electricity costs. To obtain precise data, we established a local blockchain network where we measured the hashrate and power consumption of the miner node. This empirical data helps us understand the exact amount of energy consumed during miner node activities. In our experiments, we used the Ethereum network to compute the energy consumption associated with various transaction types. Our proposed approach enhances the efficiency of blockchain applications. Also, it solves the environmental impact, contributing to the creation of a more sustainable and eco-friendly blockchain network.