Building a Private Bitcoin-Based Payment Network Among Electric Vehicles and Charging Stations

Erdin, Enes; Cebe, Mumin; Akkaya, Kemal; Solak, Senay; Bulut, Eyuphan; Uluagac, Selcuk

doi:10.1109/cybermatics_2018.2018.00269

Cited by 24 publications

(16 citation statements)

References 14 publications

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“…Authors in Reference 15 proposed an automated and decentralized energy system in the IoT environment to achieve high scalability and efficient energy management. In Reference 16, the authors used off‐chain payment method in the energy trading system to increase trading efficiency. Another worked in Reference 17 used blockchain technology to store the energy loss allocation, timing of the transactions and data of power losses.…”

Section: Related Workmentioning

confidence: 99%

A secure blockchain‐based demurrage mechanism for energy trading in smart communities

Dahunsi

Javaid

2020

Int J Energy Res

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This paper combines additive homomorphic encryption and consortium blockchain technology to provide privacy and trust. Additionally, a dynamic energy pricing model is formulated based on the demand response ratio (DRR) of the load demand of prosumers to address fixed energy pricing problems. The proposed dynamic pricing model includes demurrage fees, which is a monetary penalty imposed on a prosumer, if it failed to deliver energy within the agreed duration. Furthermore, this paper also designs and analyzes a threat model of the proposed system. Experimental evaluations show the effectiveness of the proposed model with regards to low transaction cost, the minimum execution time for block creation, the privacy of prosumers and dispute resolution of demurrage fees. Moreover, the proposed scheme reduces the average system overhead cost up to 66.67% as compared to 33.43% for an existing scheme. Additionally, the proposed blockchain proof-of-authority consensus average hash power is minimized up to 82.75% as compared to 60.34% for proof-of-stake and 56.89% for proof-of-work consensus mechanisms.

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Section: Related Workmentioning

confidence: 99%

A secure blockchain‐based demurrage mechanism for energy trading in smart communities

Dahunsi

Javaid

2020

Int J Energy Res

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“…89 Despite the benefits of the off-chain mechanism to preserve privacy and decrease transaction fees (eg, in Bitcoin), it has its limitations, namely limited channel capacity, data privacy in payment transaction routing, and the cost of opening and closing channels. 29,90…”

Section: Off/on-chain Mechanismmentioning

confidence: 99%

An evaluation framework for privacy‐preserving solutions applicable for blockchain‐based internet‐of‐things platforms

Firoozjaei

Ghorbani

2020

Security and Privacy

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Blockchain-based applications provide many promising opportunities to overcome the challenges associated with the Internet of Things (IoT) ecosystems (eg, centralized architecture, data integrity, and reliability). In particular, blockchain technology offers many desirable features for IoT infrastructures, such as decentralization, trustworthiness, trackability, and immutability. However, while logging all transactions in a distributed blockchain ledger provides transparency, it also makes it possible to compromise user's privacy, thus posing a grand challenge to IoT architects and implementers. Over the past years, a set of solutions have been proposed for various scenarios, to address these privacy issues. In this paper, we survey these solutions, classify, and analyze their advantages and disadvantages. We also introduce an evaluation framework to evaluate the quality of the privacy-preserving based on an adjustable weighting scheme. Finally, we rate the analyzed solutions based on their privacy ranks, and hope our evaluation can shed light on the future design of privacy-preserving solutions applicable for blockchain-based IoT platforms. K E Y W O R D S blockchain-based application, internet-of-things, privacy rank, privacy-preserving 1 INTRODUCTION Blockchain-based applications have been widely employed to address issues such as intensive centralizing, scalability, security, and reliability with Internet of Things (IoT) systems. IoT systems are characterized by multi-party ecosystems, with data exchange among different devices and parties. 1 The tamper-proof, immutability, and transparency features of blockchain make members able to trace all transactions (past and present), which provides a reliable way to identify data leakages or manipulation. 2-4 The integrity of huge amounts of IoT sensory data can be assured in a blockchain-based distributed cloud from sensor to service with no need to rely on trusted third parties. 5 Data provenance tracking can be provided by programmable smart contracts, which act as the policy evaluation entities and event loggers, and allows users to check all data transfers (eg, acquired automatically from IoT devices) and usage transactions providing assurance that only transactions conforming to the contract policies are authorized and registered in the blockchain. 6 IoT system restrictions, namely resource-constrained devices, low computational power, and limited capacity and bandwidth limit blockchain-IoT applications. For this reason, different projects, such as Maru,* Riddle&Code, † IOTA, ‡ and IBM's device democracy, aim to fit blockchain to IoT platforms, to achieve interoperability, trust machine-to-machine (M2M) interaction, data integrity, and device-based permission. Maru sensor platform, developed by chain of things

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“…This conserves the resources of the blockchain and hides the sensitive information involved in the off-chain transactions from the public [10,30]. Erdin et al [31] used an off-chain payment for EV charging stations by building a payment network in parallel to the main ledger, with permissions and signatures to eliminate the high transaction fee and address the privacy exposure problem. Khalil et al [32] extended the payment channel to a set of users in a payment channel network.…”

Section: Related Workmentioning

confidence: 99%

“…As the payment networks, these subnetworks allow payments to be made between parties that are not at the same moment connected by a payment channel. Despite the benefits of the off-chain mechanism to preserve privacy and decrease transaction fees (e.g., in Bitcoin), this method has its limitations, namely limited channel capacity, data privacy in payment transaction routing, and the cost of opening and closing channels [31,33]. By dividing the transactions in two separated blockchains with different purposes, Hy-Bridge does not suffer from the aforementioned limitations.…”

Section: Related Workmentioning

confidence: 99%

Hy-Bridge: A Hybrid Blockchain for Privacy-Preserving and Trustful Energy Transactions in Internet-of-Things Platforms

Firoozjaei

Ghorbani

Kim

et al. 2020

Sensors

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In the current centralized IoT ecosystems, all financial transactions are routed through IoT platform providers. The security and privacy issues are inevitable with an untrusted or compromised IoT platform provider. To address these issues, we propose Hy-Bridge, a hybrid blockchain-based billing and charging framework. In Hy-Bridge, the IoT platform provider plays no proxy role, and IoT users can securely and efficiently share a credit with other users. The trustful end-to-end functionality of blockchain helps us to provide accountability and reliability features in IoT transactions. Furthermore, with the blockchain-distributed consensus, we provide a credit-sharing feature for IoT users in the energy and utility market. To provide this feature, we introduce a local block framework for service management in the credit-sharing group. To preserve the IoT users’ privacy and avoid any information leakage to the main blockchain, an interconnection position, called bridge, is introduced to isolate IoT users’ peer-to-peer transactions and link the main blockchain to its subnetwork blockchain(s) in a hybrid model. To this end, a k-anonymity protection is performed on the bridge. To evaluate the performance of the introduced hybrid blockchain-based billing and charging, we simulated the energy use case scenario using Hy-Bridge. Our simulation results show that Hy-Bridge could protect user privacy with an acceptable level of information loss and CPU and memory usage.

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Building a Private Bitcoin-Based Payment Network Among Electric Vehicles and Charging Stations

Cited by 24 publications

References 14 publications

A secure blockchain‐based demurrage mechanism for energy trading in smart communities

A secure blockchain‐based demurrage mechanism for energy trading in smart communities

An evaluation framework for privacy‐preserving solutions applicable for blockchain‐based internet‐of‐things platforms

Hy-Bridge: A Hybrid Blockchain for Privacy-Preserving and Trustful Energy Transactions in Internet-of-Things Platforms

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