Cryptocurrency Grade of Green; IOTA Energy Consumption Modeling and Measurement

Abstract

Over the last decade, cryptocurrencies have made a significant progress as Bitcoin. Nowadays, one of the challenges in the cryptocurrencies community is the high energy consumption of Bitcoin. Not only Bitcoin but also some other cryptocurrencies deal with this problem. This work-in-progress paper defines macro standardization for energy consumption of each transaction based on VISA and MasterCard energy consumption, IOTA energy consumption modeling, and measuring of IOTA current rate control mechanism (Proof-of-Work).