52 - Durable, Low Energy Bitcoin PoW
BIP: 52 source Layer: Consensus (hard fork) Title: Durable, Low Energy Bitcoin PoW Author: Michael Dubrovsky Bogdan Penkovsky Comments-Summary: No comments yet. Comments-URI: https://github.com/bitcoin/bips/wiki/Comments:BIP-0052 Status: Draft Type: Standards Track Created: 2021-05-13 License: BSD-2-Clause OPL Table of ContentsSimple SummaryAbstractCopyrightMotivationSpecificationHeavyHashRandom matrix generationDiscussionGeographic Distribution of Mining Relative to CAPEX-OPEX Ratio of Mining CostsWhy does CAPEX to OPEX shift lead to lower energy consumption?Working Principles of Photonic ProcessorsBlock Reward ConsiderationsImplementation on the Bitcoin NetworkReverse compatibilityASICBOOSTEndnotesAcknowledgments Simple Summary Bitcoin's energy consumption is growing with its value (see Figure below). Although scaling PoW is necessary to maintain the security of the network, reliance on massive energy consumption has scaling drawbacks and le...