A Distributed Energy Trading Authentication Mechanism Based on a Consortium Blockchain

Abstract

With the rapid development of the energy internet, the transaction of distributed renewable energy (DRE) is playing an increasingly important role in the energy market. However, in the transaction model of distributed renewable energy combined with public blockchain technology, nodes in the trading network can join or leave the network at any time without any permission, which hinders the regulation of electricity institutions. Corresponding to the transaction principle, a distributed renewable energy transaction authentication mechanism based on consortium blockchain is proposed in this paper. First, certificate authority nodes were set in the transaction network to provide nodes with access authority by controlling the public keys and private keys of trading participants so that they can complete their identity authentication. Next, essential chaincodes in the transaction authentication were designed and deployed on a Hyperledger Fabric blockchain site, and a simulation experiment of a simple DRE transaction was used to elaborate the details on the transaction process. Finally, the proposed model was evaluated according to its performance and proved to be practical and effective.

How Can Blockchain Technology Accelerate Energy Efficiency Interventions? A Use Case Comparison

“…Based on the blockchain application areas suggested in the literature, we select three dominant energy efficiency use cases to test whether a blockchain application is feasible and outline a possible blockchain design. The selected cases are P2P energy trading, as it is by far the most prominent research topic within the energy trading systems [15][16][17][18][19][20][21][23][24][25][26][27][28][29][30]. We consider P2P energy trading as a valid case, as the inserting of renewable energy increases system efficiency, particularly regarding the significant potential of IoT devices to improve grid and load management [15,30,49,62,63].…”

“…In the context of energy efficiency, the literature suggests blockchain technology to be relevant in mainly three application areas. First, blockchain could enable innovative energy trading systems, such as P2P energy trading [15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30], electric vehicle charging [15,31] and energy markets [22,27,[32][33][34][35]. Second, blockchain could serve as a distributed accounting and trading platform for the energy efficiency White Certificate Schemes (WCS) [15].…”

Construction of Chinese Smart Water Conservancy Platform Based on the Blockchain: Technology Integration and Innovation Application

“…Second, there is the related research of blockchain technology in the financial field [12][13][14][15][16]. This also involves industries such as banking, equity trading market, supply chain, and energy trading [17][18][19][20]. Third, we have the application of blockchain technology in other industrial fields, such as medical, government, e-commerce, tourism, and so on [21][22][23][24][25][26][27][28].…”

Review of FSCM With Blockchain and Big Data Integration

“…On the other hand, a consortium blockchain is a combination of the private and public blockchain. Indeed, the blockchainbased smart contract contains six-layer such as application layer, contract layer, incentive layer, consensus layer, network layer, and data layer [7]. Figure 2 represents the layer of blockchain.…”