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Is is possible to replace mining as a guessing game where your chance of winning is related to the how quickly your machine can perform calculations compared to how quickly other miners are performing similar calculations with electricity generation data rather than a solution to a mathematical problem to generate block rewards.
Is it possible to have the network generate a unique random number which is assigned to the transaction which records the successful production of a predetermined amount of electricity from data derived from an electricity meter, the electricity meter is attached to a network node and records and transmits transactions (data logs) to the network. Each energy producer uses a smart meter to record their electricity production a computer with the blockchain installed which is attached to the meter that collects and transmits those transactions to and from the blockchain network, the transactions are validated and do not allow for conflicting transactions, the transactions are put into blocks of up to 2KB or about 70 transactions, the M.I. devices compute cryptographic hashes until they find a block good enough to count, the block is then submitted to the blockchain network which earns the energy producer a reward. Every electricity producer that produces the require amount of kWh of electricity will have the same chance earning a reward as it is a guessing game where your chance of winning is related to the how quickly you produce the electricity, and not how much processing power you have.

  • It would be difficult to prevent cheating. – Willtech Mar 10 '18 at 2:53
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This is not really possible: other participants can not provably verify the output of the electricity meter. What if it is malfunctioning or modified by a malicious entity? Proof-of-work has the key advantage of being independently verifiable. Anyone can compute the blockhash and see that it is smaller than the target without any additional information or having to trust anyone.

  • The electricity meters are attached to network nodes, and this data is transmitted to the network every 5 minutes – Joe Marinov Dec 9 '17 at 15:06
  • The meters are class 1 smart meters ,they communicate every 5 minutes to the energy utilities, any tampering is a criminal offence. Every participant in the system has a smart meter and a computer with a network node that communicates both electricity consumption and production with every other participant in the network on a 5 minute interval – Joe Marinov Dec 9 '17 at 15:13
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    "tampering is a criminal offence" - the whole point of [open] blockchains is to avoid the "call the cops" security model. Sure, if you trust the government and the police to act in your best interest, this is fine, but for the majority of the global population this is a bad security assumption. – Sergei Tikhomirov Dec 9 '17 at 15:23

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