Adapting Blockchain Technology for Scientific Computing

04/23/2018

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by   Wei Li, et al.

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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. The revised scheme enables us to address difficult scientific questions as a byproduct of mining.