Blockchain and Smart Contract for Peer-to-Peer Energy Trading Platform: Legal Obstacles and Regulatory Solutions

2020 ◽  
Author(s):  
Joseph Lee ◽  
Vere Marie Khan
Keyword(s):  
Peer To Peer ◽  
Energy Trading ◽  
Smart Contract

A novel Confidential Consortium Blockchain framework for peer to peer energy trading

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Nihar Ranjan Pradhan ◽  
Akhilendra Pratap Singh ◽  
Kaibalya Prasad Panda ◽  
Diptendu Sinha Roy
Keyword(s):  
Rate Control ◽  
Feasible Solution ◽  
Functional Model ◽  
Peer To Peer ◽  
Consensus Protocol ◽  
Trading System ◽  
Energy Trading ◽  
Elapsed Time ◽  
Smart Contract ◽  
And Performance

Abstract The vital dependence of peer to peer (P2P) energy trading frameworks on creative Internet of Things (IoT) has been making it more vulnerable against a wide scope of attacks and performance bottlenecks like low throughput, high latency, high CPU, memory use, etc. This hence compromises the energy exchanging information to store, share, oversee, and access. Blockchain innovation as a feasible solution, works with the rule of untrusted members. To alleviate this threat and performance issues, this paper presents a Blockchain based Confidential Consortium (CoCo) P2P energy trading system that works on the trust issues among the energy exchanging networks and limits performance parameters. It reduces the duplicate validation by creating a trusted network on nodes, where participants identities are known and controlled. A Java-script-based smart contract is sent over the Microsoft CoCo system with Proof of Elapsed Time (PoET) consensus protocol. Also, a functional model is designed for the proposed framework and the performance bench-marking has been done considering about latency, throughput, transaction rate control, success and fail transaction, CPU and memory usage, network traffic. Additionally, it is shown that PoET’s performance is superior to proof of work (PoW) for multi-hosting conditions. The measured throughput and latency moving toward database speeds with more flexible, business-specific confidentiality models, network policy management through distributed governance, support for non-deterministic transactions, and reduced energy consumption.

scholarly journals A Smart Contract-Based P2P Energy Trading System with Dynamic Pricing on Ethereum Blockchain

Sensors ◽  
2021 ◽  
Vol 21 (6) ◽  
pp. 1985
Author(s):  
Jae Geun Song ◽  
Eung seon Kang ◽  
Hyeon Woo Shin ◽  
Ju Wook Jang
Keyword(s):  
Virtual Machine ◽  
Dynamic Pricing ◽  
Peer To Peer ◽  
Trading System ◽  
Energy Trading ◽  
State Diagrams ◽  
Autonomous Operation ◽  
Smart Contract ◽  
Energy Trade ◽  
Automatic Balancing

We implement a peer-to-peer (P2P) energy trading system between prosumers and consumers using a smart contract on Ethereum blockchain. The smart contract resides on a blockchain shared by participants and hence guarantees exact execution of trade and keeps immutable transaction records. It removes high cost and overheads needed against hacking or tampering in traditional server-based P2P energy trade systems. The salient features of our implementation include: 1. Dynamic pricing for automatic balancing of total supply and total demand within a microgrid, 2. prevention of double sale, 3. automatic and autonomous operation, 4. experiment on a testbed (Node.js and web3.js API to access Ethereum Virtual Machine on Raspberry Pis with MATLAB interface), and 5. simulation via personas (virtual consumers and prosumers generated from benchmark). Detailed description of our implementation is provided along with state diagrams and core procedures.

RBT: A distributed reputation system for blockchain-based peer-to-peer energy trading with fairness consideration

2021 ◽  
Vol 295 ◽  
pp. 117056
Author(s):  
Tonghe Wang ◽  
Jian Guo ◽  
Songpu Ai ◽  
Junwei Cao
Keyword(s):  
Peer To Peer ◽  
Reputation System ◽  
Energy Trading

scholarly journals Credible Peer-to-Peer Trading with Double-Layer Energy Blockchain Network in Distributed Electricity Markets

Electronics ◽  
2021 ◽  
Vol 10 (15) ◽  
pp. 1815
Author(s):  
Longze Wang ◽  
Yu Xie ◽  
Delong Zhang ◽  
Jinxin Liu ◽  
Siyu Jiang ◽  
...  
Keyword(s):  
Double Layer ◽  
Electricity Markets ◽  
Electricity Market ◽  
Peer To Peer ◽  
Malicious Nodes ◽  
Energy Trading ◽  
Contract Performance ◽  
Trading Model ◽  
Consensus Information ◽  
Available Information

Blockchain-based peer-to-peer (P2P) energy trading is one of the most viable solutions to incentivize prosumers in distributed electricity markets. However, P2P energy trading through an open-end blockchain network is not conducive to mutual credit and the privacy protection of stakeholders. Therefore, improving the credibility of P2P energy trading is an urgent problem for distributed electricity markets. In this paper, a novel double-layer energy blockchain network is proposed that stores private trading data separately from publicly available information. This blockchain network is based on optimized cross-chain interoperability technology and fully considers the special attributes of energy trading. Firstly, an optimized ring mapping encryption algorithm is designed to resist malicious nodes. Secondly, a consensus verification subgroup is built according to contract performance, consensus participation and trading enthusiasm. This subgroup verifies the consensus information through the credit-threshold digital signature. Thirdly, an energy trading model is embedded in the blockchain network, featuring dynamic bidding and credit incentives. Finally, the Erenhot distributed electricity market in China is utilized for example analysis, which demonstrates the proposed method could improve the credibility of P2P trading and realize effective supervision.

Electrical-distance driven peer-to-peer energy trading in a low-voltage network

2021 ◽  
Vol 287 ◽  
pp. 116598
Author(s):  
Jaysson Guerrero ◽  
Bunyim Sok ◽  
Archie C. Chapman ◽  
Gregor Verbič
Keyword(s):  
Low Voltage ◽  
Peer To Peer ◽  
Energy Trading
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