DataSys: Data-Intensive Distributed Systems LaboratoryData-Intensive Distributed Systems Laboratory

Illinois Institute of Technology
Department of Computer Science

GiGi: Green lightnInG coin

GIGI Testbed Digital currency is one of the most disrupting technologies of the current era, yet these decentralized currencies are orders of magnitude slower and less energy efficient than existing centralized payment processing approaches such as credit cards. Digital currencies like BitCoin are here to stay, but they currently have a disproportionate carbon footprint and slow transaction speeds. Our new digital currency GiGi, Green lightnInG coIn, increases transaction throughput through larger blocks with smaller block times and achieves energy efficiency on par with centralized solutions using an improved proof-of-space algorithm leveraging XSearch to secure the digital currency. The GiGi project won 1st place in the inaugural Grainger Computing Innovation Prize for it’s design of a more energy-efficient and sustainable digital currency.