Approximate bitcoin mining

Matthew Vilim, Henry Duwe, Rakesh Kumar

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

Bitcoin is the most popular cryptocurrency today. A bedrock of the Bitcoin framework is mining, a computation intensive process that is used to verify Bitcoin transactions for profit. We observe that mining is inherently error tolerant due to its embarrassingly parallel and probabilistic nature. We exploit this inherent tolerance to inaccuracy by proposing approximate mining circuits that trade off reliability with area and delay. These circuits can then be operated at Better Than Worst-Case (BTWC) to enable further gains. Our results show that approximation has the potential to increase mining profits by 30%.

Original languageEnglish (US)
Title of host publicationProceedings of the 53rd Annual Design Automation Conference, DAC 2016
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9781450342360
DOIs
StatePublished - Jun 5 2016
Event53rd Annual ACM IEEE Design Automation Conference, DAC 2016 - Austin, United States
Duration: Jun 5 2016Jun 9 2016

Publication series

NameProceedings - Design Automation Conference
Volume05-09-June-2016
ISSN (Print)0738-100X

Other

Other53rd Annual ACM IEEE Design Automation Conference, DAC 2016
CountryUnited States
CityAustin
Period6/5/166/9/16

Keywords

  • Approximate computing
  • Bitcoin
  • Error-tolerance
  • SHA-256

ASJC Scopus subject areas

  • Computer Science Applications
  • Control and Systems Engineering
  • Electrical and Electronic Engineering
  • Modeling and Simulation

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