The Energy Consumption of Proof-of-Stake Systems: Replication and Expansion

13 Pages Posted: 14 Jan 2023 Last revised: 14 Apr 2023

See all articles by Juan Ignacio Ibañez

Juan Ignacio Ibañez

UCL Centre for Blockchain Technologies; The DLT Science Foundation

Francisco Rua

University College London - Centre for Blockchain Technologies

Date Written: January 13, 2023

Abstract

Blockchain technology and, more generally, distributed ledger technology (DLT) systems, face public scrutiny for their energy consumption levels. However, many point out that high energy consumption is a feature of (small block size) proof-of-work (PoW) DLTs, but not of proof-of-stake (PoS) DLTs. With the energy consumption of PoS systems being an under-researched area, we replicate, expand and update embryonary work modelling it and comparing different PoS-based DLTs with each other and with other non-PoS systems. In doing so, we suggest and implement a number of improvements to an existing PoS energy consumption model. We find that there may be significant differences in the energy consumption of PoS systems analysed and confirm that, regardless of these differences, their energy consumption is several orders of magnitude below that of Bitcoin Core.

Keywords: energy consumption, blockchain, DLT, sustainability, proof-of-stake, technological innovation

Suggested Citation

Ibañez, Juan Ignacio and Rua, Francisco, The Energy Consumption of Proof-of-Stake Systems: Replication and Expansion (January 13, 2023). Available at SSRN: https://ssrn.com/abstract=4324137 or http://dx.doi.org/10.2139/ssrn.4324137

Juan Ignacio Ibañez (Contact Author)

UCL Centre for Blockchain Technologies ( email )

UCL CBT UCL Computer Science
Malet Place London WC
London, London WC1E 6BT
United Kingdom

The DLT Science Foundation ( email )

United Kingdom

Francisco Rua

University College London - Centre for Blockchain Technologies

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
1,520
Abstract Views
5,500
Rank
23,093
PlumX Metrics