741 publications from this institution
This book chapter introduces the principles of designing cryptocurrencies and outlines the key characteristics expected from future currencies. The chapter provides an overview of the foundational components of cryptocurrency networks and emphasizes scalability, security, and sustainability as pivotal characteristics for the next-generation currencies. It begins by introducing the fundamental elements involved in designing cryptocurrency networks, which include hash functions, data structure, and digital signatures. It further explains the primary processes necessary for achieving decentralization, and the procedure of mining and verifying transactions. In addition, the chapter describes the environmental sustainability aspects of crypto networks, with a specific focus on three key areas: (1) energy consumption, (2) electronic waste generation, and (3) opportunities for sustainable practices through decentralized transactions. Finally, the chapter highlights the potential for sustainable practices and the social benefits that can be derived from future cryptocurrency technology.
Critical material constraints may limit and guide power system transitions towards net zero. Pathways to mitigate these constraints need to be evaluated and pursued to ensure successful transition. Here, we explore the material constraint mitigation pathways from the perspective of adjusting power generation sub-technology market shares, analysing nineteen critical materials that may cause material constraints. We find that the power generation system transition within China’s carbon neutrality scenario results in 52.2 megatonnes of cumulative material demand by 2060, approximately 2.7 times that of the business-as-usual scenario. Solar photovoltaic and wind power sub-technology market shares have the greatest impact on critical material demand. As progressive thin-film solar photovoltaic sub-technologies gain market share, the demand for gallium from solar photovoltaic may increase 56-fold. Material constraints are likely to occur for gallium, terbium, germanium, tellurium, indium, uranium and copper. The importance value is determined by the ratio of power sector to all-sector material demand; the importance value of gallium will increase to 50% due to increases in gallium arsenide and permanent magnet sub-technologies. Our study findings show that sub-technology market shares need to be considered when evaluating future material constraints. Our results provide insights for future research investigating mitigation pathways. China’s power system decarbonization may cause material constraints for gallium, terbium, germanium, tellurium, indium, uranium and copper. Adjusting sub-technology market shares of solar photovoltaic and wind power greatly affects such constraints.
