Selection of the Graphics Card to be used in Ethereum Mining with Linear BWM-TOPSIS

  • Huseyin Avunduk Dokuz Eylul UniversityDepartment of Business AdministrationDokuzçeşmeler/Buca-İzmir
  • Gülper Basmacı
  • Serkan Genç

Abstract

Blockchain technology is becoming more and more important and new usage areas are emerging every day. However, the most fundamental one of these usage areas is cryptocurrencies, which led to the emergence of blockchain technology. Cryptocurrency transfers are made possible with mining. Although there are many cryptocurrencies available today, a lot of them use Ethereum-based blockchain technology. The choice of the most optimal graphics card (GPU; Graphics Processing Unit) in cryptocurrency mining is very important for the efficiency and profitability of the mining operations to be performed. Since this decision problem depends on more than one criterion, it should be handled using Multiple-Criteria Decision-Making Methods (MCDM). Accordingly, the study focused on the mining of Ethereum-based cryptocurrencies and the selection of the optimal GPU to be used in mining with linear BWM-TOPSIS.  As a result of the study, a model is presented in which miners can choose the most efficient GPU for them and the optimal GPU as of January 2020 has been determined.

Published
2021-06-30
How to Cite
Avunduk, H., Basmacı, G., & Genç, S. (2021). Selection of the Graphics Card to be used in Ethereum Mining with Linear BWM-TOPSIS. International Journal of Contemporary Economics and Administrative Sciences, 11(1), 134-159. https://doi.org/10.5281/zenodo.5136822
Section
Articles