Bitcoin Transaction Computational Efficiency and Network Node Power Consumption Prediction Using an Artificial Neural Network

Arcel Kalenga Muteba, Kingsley A. Ogudo, Espoir M.M. Bondo

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

This paper develops and discusses the predictability of power consumption of the Bitcoin networks using Artificial Neural Networks (ANN) machine learning algorithm and solving the computational problem of the Bitcoin mining process. It discussed its impacts on energy consumption in the crypto mining process. In this paper, we used data sets for Bitcoin historical information for the training and testing of the ANN algorithm. With the help of Python libraries, the data filtration process was done. Python has provided the best feature for data analysis and visualization. After understanding the data, we trim the data and use the characteristics or attributes best suited for the model. The implementation of the model is done, and the result is recorded and analyzed. The results as obtained demonstrated that the use of Artificial Neural Networks (ANN) machine learning algorithm could approximately predict the actual electricity consumption of Bitcoin with high accuracy.

Original languageEnglish
Title of host publicationSmart Technologies in Data Science and Communication - Proceedings of SMART-DSC 2022
EditorsKingsley A. Ogudo, Sanjoy Kumar Saha, Debnath Bhattacharyya
PublisherSpringer Science and Business Media Deutschland GmbH
Pages109-116
Number of pages8
ISBN (Print)9789811968792
DOIs
Publication statusPublished - 2023
Event5th International Conference on Smart Technologies in Data Science and Communication, SMART-DSC 2022 - Guntur, India
Duration: 16 Jun 202217 Jun 2022

Publication series

NameLecture Notes in Networks and Systems
Volume558
ISSN (Print)2367-3370
ISSN (Electronic)2367-3389

Conference

Conference5th International Conference on Smart Technologies in Data Science and Communication, SMART-DSC 2022
Country/TerritoryIndia
CityGuntur
Period16/06/2217/06/22

Keywords

  • Artificial Neural Network
  • Bitcoin
  • Power consumption

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Signal Processing
  • Computer Networks and Communications

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