2019-12-10 18:44:42
The rise in popularity of cryptocurrencies such as Bitcoin has the potential to change how we view money. At the same time, governments and societies are worried that the anonymity of these cashless transactions could allow criminal activities to flourish. Another less remarked upon issue is the energy demands needed to mint new coins for these cryptocurrencies. A new report by Associate Professor Naoki Shibata of Nara Institute of Science and Technology presents a blockchain algorithm, which he calls "proof-of-search" (PoS), that retains the attractive features of most cryptocurrencies at a lower cost to the environment.