Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining
Next to climate change on the list of challenges faced by humankind in today's technological age is energy management. While "smart" ideas continue to gather momentum as some of the ways earmarked to combat the menace of a changing climate, coupled with efficient management of energy,...
| Main Authors: | , , , , , |
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| Format: | Article |
| Language: | English |
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MDPI
2020
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| Online Access: | http://eprints.utm.my/93613/1/AliSelamat2020_OpinionsonSustainabilityofSmartCities.pdf |
| _version_ | 1796865658527416320 |
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| author | Fadeyi, Oluwaseun Krejcar, Ondrej Maresova, Petra Kuca, Kamil Brida, Peter Selamat, Ali |
| author_facet | Fadeyi, Oluwaseun Krejcar, Ondrej Maresova, Petra Kuca, Kamil Brida, Peter Selamat, Ali |
| author_sort | Fadeyi, Oluwaseun |
| collection | ePrints |
| description | Next to climate change on the list of challenges faced by humankind in today's technological age is energy management. While "smart" ideas continue to gather momentum as some of the ways earmarked to combat the menace of a changing climate, coupled with efficient management of energy, research and development in the blockchain is not retracting, recently giving rise to digital currencies capable of fueling massive energy consumption via mining of "crypto-coins". Given that sustainability is a crucial goal in the design of smart cities nowadays, there are currently no assurances of sustainable cities where cryptocurrency mining is at full scale. Nevertheless, alternative energy sources may come to the rescue in no distant time. In this paper, we contextualize energy-use in smart cities through mining of virtual currencies, in order to predict whether or not smart cities can truly be sustainable if crypto-mining is sustained. An attempt is also made to emphasize the possible ways of reducing energy use and all activities involving digital currencies by seeking to replace "Proof of Work" (PoW) with improved alternatives. |
| first_indexed | 2024-03-05T21:00:19Z |
| format | Article |
| id | utm.eprints-93613 |
| institution | Universiti Teknologi Malaysia - ePrints |
| language | English |
| last_indexed | 2024-03-05T21:00:19Z |
| publishDate | 2020 |
| publisher | MDPI |
| record_format | dspace |
| spelling | utm.eprints-936132021-12-31T08:44:57Z http://eprints.utm.my/93613/ Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining Fadeyi, Oluwaseun Krejcar, Ondrej Maresova, Petra Kuca, Kamil Brida, Peter Selamat, Ali T Technology (General) Next to climate change on the list of challenges faced by humankind in today's technological age is energy management. While "smart" ideas continue to gather momentum as some of the ways earmarked to combat the menace of a changing climate, coupled with efficient management of energy, research and development in the blockchain is not retracting, recently giving rise to digital currencies capable of fueling massive energy consumption via mining of "crypto-coins". Given that sustainability is a crucial goal in the design of smart cities nowadays, there are currently no assurances of sustainable cities where cryptocurrency mining is at full scale. Nevertheless, alternative energy sources may come to the rescue in no distant time. In this paper, we contextualize energy-use in smart cities through mining of virtual currencies, in order to predict whether or not smart cities can truly be sustainable if crypto-mining is sustained. An attempt is also made to emphasize the possible ways of reducing energy use and all activities involving digital currencies by seeking to replace "Proof of Work" (PoW) with improved alternatives. MDPI 2020 Article PeerReviewed application/pdf en http://eprints.utm.my/93613/1/AliSelamat2020_OpinionsonSustainabilityofSmartCities.pdf Fadeyi, Oluwaseun and Krejcar, Ondrej and Maresova, Petra and Kuca, Kamil and Brida, Peter and Selamat, Ali (2020) Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining. Sustainability (Switzerland), 12 (1). p. 169. ISSN 2071-1050 http://dx.doi.org/10.3390/su12010169 |
| spellingShingle | T Technology (General) Fadeyi, Oluwaseun Krejcar, Ondrej Maresova, Petra Kuca, Kamil Brida, Peter Selamat, Ali Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title | Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title_full | Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title_fullStr | Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title_full_unstemmed | Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title_short | Opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| title_sort | opinions on sustainability of smart cities in the context of energy challenges posed by cryptocurrency mining |
| topic | T Technology (General) |
| url | http://eprints.utm.my/93613/1/AliSelamat2020_OpinionsonSustainabilityofSmartCities.pdf |
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