Blockchain‐based electric vehicle charging reservation scheme for optimum pricing

Abstract

Summary The adaptation of intelligent transportation system has evolved the quality of life of people with the huge demand for electric vehicles. Moreover, it becomes essential to schedule an electric vehicle for charging optimally. Therefore, this paper proposes a blockchain‐based electric vehicle charging reservation scheme for optimum pricing. It primarily aims to secure data transactions between electric vehicles and charging stations. It uses the communication channel as 5G to ensure ultra‐low latency and extremely high reliability. Furthermore, the proposed scheme uses a double‐auction mechanism to optimize the payoff for both electric vehicles and charging stations. The performance of the proposed scheme is evaluated by distinguishing it from the conventional networks such as 4G and LTE‐A. The performance parameters are considered profit and loss for electric vehicles, scalability, cost overhead for data storage, communication overhead for data transactions, and data storage cost. Results show that the proposed scheme is secure and achieves the optimized payoff for electric vehicles and charging stations compared with traditional approaches.

Shaping future low-carbon energy and transportation systems: Digital technologies and applications

“…5G/6G technologies are also being used in the EV sector at present. Intelligent and interconnected EVs become the major trend [36] . For smart electric vehicles, the more effectively they apply the technology of smart energy management, the more competitive their products are.…”

“…For example, the electric drive system of EVs is embedded with current sensors, voltage sensors, etc [20] . The smart car integration system is established through 5G/6G to oversee the smart energy management level of smart EVs, whereas the Internet of Things is also used to monitor and make predictions for EVs [36] . In the V2G field, IoT technologies are widely employed, and numerous methods are proposed to improve the electric efficiency of EVs as well as its grid stability [235,85] .…”

A Decentralized Dynamic Pricing Model for Demand Management of Electric Vehicles

“…The fairness in allocating financial responsibility for charging EVs during peak hours is considered in [24] and an energy pricing mechanism is proposed. Similarly, a block-chain assisted charging reservation mechanism is proposed in [25] while considering secure data transactions. However, most of these studies have considered the pricing mechanisms at the system level.…”

Blockchain and Double Auction-Based Trustful EVs Energy Trading Scheme for Optimum Pricing

“…They have focused on providing a secure and transparent environment to the EVs for contactless charging. Then, Tanwar et al [27] designed a blockchain-based EV charging reservation scheme for optimum pricing. They have adopted a double auction mechanism to provide maximal payoff between users in the system.…”

“…Still, they did not discuss the optimal payoff, profit, computation time, and data storage cost for the EVs participating in the energy trading. The authors in [27] focused on optimizing the profit for EVs utilizing the double auction mechanism but ignoring the truthfulness and individual rationality of the bidders.…”