Green-PoW: An energy-efficient blockchain Proof-of-Work consensus algorithm

This paper opts to mitigate the energy-inefficiency of Blockchain Proof-of-Work (PoW) consensus algorithm by rationally repurposing power spent during mining process. The original PoW scheme is designed consider one block at a time and assign reward first place winner computation race. To reduce mining-related energy consumption, we propose compensate effort runner(s)-up round, granting them exclusivity solving upcoming in next round. will considerably number competing nodes round consequently, consumed energy. Our proposed divides into epochs, where each comprises two rounds; one, all network can participate process, whereas second only runners-up take part. Thus, overall consumption be reduced nearly 50%. best our knowledge, decrease algorithm. analysis demonstrates effectiveness reducing probability fork occurrences, level centralization presented algorithm, effect transaction censorship attack.