Green Bitcoin offers an alternative blockchain solution with a brand-new network architecture, storage system, consensus algorithm, incentive mechanism, and security technique. The primary goal of Green Bitcoin is to solve the underlying issues of Bitcoin through four aspects of success: energy efficiency, useful work, scalability, and green energy.
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The consensus mechanism of Green Bitcoin will randomly decide the creator of the next node by analysing different parameters of all the nodes in the network that are involved in training the scoring AI, which makes the network more energy-efficient and scalable than the existing PoW consensus mechanism.
Green Bitcoin has a scalable and reliable storage system, elastic, and can run on commodity hardware. Unlike other DSS solutions that normally only accommodate storage for a specific service, we can provide a unified storage solution for the object, block, and file services. With its BlueStore backend, it can directly manage Hard-disk Drives (HDD) and Solid-state Drives (SSD) without relying on other file systems.
We are aiming to offload computation-intensive tasks to nodes who employ renewable energy sources as much as possible. For example, the energy produced by solar panels in homes is utilised for mining Green Bitcoin. Since some computations are offloaded to edges, the energy consumed by the cloud server will be effectively reduced. Moreover, due to the nature of Green Bitcoin's consensus mechanism which does not involve any competition of computational power, the energy required to maintain the Green Bitcoin network will be low.