Proof of Work (PoW), which is a consensus algorithm forblockchain, entails a large number of meaningless hash calculations andwastage of electric power and computational resources. In 2021, it is estimatedthat the PoW of Bitcoin consumes as much electricity as Pakistan’sannual power consumption (91 TWh). This is a serious problem againstsustainable development goals. To solve this problem, this study proposesMeaningful-PoW (mPoW), which involves a meaningful calculation,namely the application of a genetic algorithm (GA) to PoW. Specifically,by using the intermediate values that are periodically generated throughGA calculations as an input to the Hashcash used in Bitcoin, it is possibleto make this scheme a meaningful calculation (GA optimization problem)while maintaining the properties required for PoW. Furthermore, by applyinga device-binding technology, mPoW can be ASIC resistant without therequirement of a large memory. Thus, we show that mPoW can reduce theexcessive consumption of both power and computational resources.
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