Adapting Blockchain Technology for Scientific Computing
This addresses energy inefficiency in blockchain technology for scientific computing applications, though it appears incremental as it adapts existing PoW concepts.
The paper tackles the problem of wasteful energy consumption in blockchain mining by proposing a new Proof of Work scheme that solves high-dimension, non-linear optimization problems, such as the Traveling Salesman Problem, as a byproduct.
Blockchain stores information into a chain of "blocks", whose integrity is usually guaranteed by Proof of Work (PoW). In many blockchain applications (including cryptocurrencies), users compete with each other to win the ownership of the blocks, a process commonly referred as "mining". Mining activities consume huge amount of power, while the outcome appears to be useless besides validating a block. Here we discuss the requirements of designing a new PoW algorithm. We also propose a PoW scheme to help solve high-dimension, non-linear optimization problems. Simulation experiments of blockchains generated by three miners solved an instance of Traveling Salesman Problem (TSP), a well-known NP-hard problem. The revised scheme enables us to address difficult scientific questions as a byproduct of mining.