Photonics Bitcoin Mining Tech Aims to 'Democratize' Energy Use - by Graham Smith

[nandibear]

Photonics Bitcoin Mining Tech Aims to 'Democratize' Energy Use
news.bitcoin.com
by Graham Smith
November 29, 2019

Excerpt:

Three researchers have published a paper at Cornell University’s arxiv.org proposing a system called Optical Proof of Work (OPOW) to potentially be employed in Bitcoin mining. According to the paper, “heavy reliance on electricity has created scalability issues, environmental concerns, and systemic risks.” The authors state that silicon photonics could be used to shift mining costs away from energy-intensive to hardware-based costs, lowering the economic and environmental impact, adding greater security, and “democratizing” mining.

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Read entire article: https://news.bitcoin.com/photonics-bitcoin-mining-tech-aims-to-democratize-energy-use/

About the author: https://news.bitcoin.com/author/grahamsmith/