Dynamic Adaptive Cross-Chain Trading Mode for Multi-Microgrid Joint Operation

Wang, Longze; Wu, Jian; Yuan, Rongfang; Zhang, De‐Long; Liu, Jinxin; Jiang, Siyu; Zhang, Yan; Li, Meicheng

doi:10.3390/s20216096

Cited by 23 publications

(14 citation statements)

References 43 publications

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“…The malicious entities can still partake in the validation process. Similarly, [73] and POA [70] use a special set of validators. The work in [81] did not discuss the behavior of off-chain clients to invoke smart contracts.…”

Section: ) Discussionmentioning

confidence: 99%

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Towards Interoperable Blockchains: A Survey on the Role of Smart Contracts in Blockchain Interoperability

et al. 2021

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The slower than expected adoption rate of blockchain technology has highlighted that there are barriers due to the diversity of its applications and its users. To overcome this limitation and take full advantage of the novel technology, researchers from academia as well as industry are dedicated to find different solutions, where two or more blockchains can interact with each other. As a result, several interoperability solutions have presented themselves. To investigate the functionalities and underlying mechanisms of interoperable blockchain solutions, researchers have conducted several surveys by discussing the features and innovations of these methods. However, the existing surveys tend to focus on the architectural description of the interoperability solutions and completely overlook the most promising aspect of blockchain adaptability, namely the smart contract. This paper fills the gap by exploring the role of smart contracts in blockchain interoperability solutions. Our research has classified the existing interoperability solutions into three main categories: heterogeneous blockchains and homogeneous smart contracts, homogeneous blockchains and homogeneous smart contracts, heterogeneous blockchains, and heterogeneous smart contracts. To provide a systematic overview of the smart contracts used in blockchain interoperability, each category is further divided into subcategories by identifying the functionalities of the smart contract used. Based on our survey, a taxonomy is proposed to help classify the blockchain interoperability solutions. The interoperability solutions in each category are analyzed in-depth, and the results are presented in tabular format to illustrate the characteristics of the interoperability solutions in a meaningful way. Finally, a number of open issues and research directions are discussed to overcome the limitations and improve the performance of blockchain interoperability.INDEX TERMS Blockchain interoperability, smart contracts, chain code, cross chain transactions, sidechains, decentralized applications, cryptocurrency, digital assets.

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Section: ) Discussionmentioning

confidence: 99%

“…Wang et al [73] proposed a cross-chain trading model for joint operations of multi micro-grids. In this work, two blockchains are incorporated with built-in P2P trading networks.…”

Section: ) Trading Systemmentioning

confidence: 99%

Towards Interoperable Blockchains: A Survey on the Role of Smart Contracts in Blockchain Interoperability

et al. 2021

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“…When broadcasting data to the entire network, only the public key and the digital signature encrypted with the private key will be sent which makes it very difficult for attackers to forge data deceiving other nodes. Asymmetric encryption algorithms, such as the elliptic curve digital signature algorithm, 105 large integer factorization algorithm, 106 and discrete logarithm 107 are adopted to ensure the reliability and security of keys. At the network layer, only authorized nodes will obtain the public key.…”

Section: Applications Of Energy Blockchainmentioning

confidence: 99%

A comprehensive review of energy blockchain: Application scenarios and development trends

Teng

Zhang

Wang

et al. 2021

Intl J of Energy Research

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The disruptive nature of blockchain technology has drawn considerable interest from different types of stakeholders. It is adopted in numerous sectors with the ability to openly and securely verify, track, and exchange data. The energy blockchain, a term used when blockchain technology is applied in the energy sector, is considered as having the potential to develop a decentralized, digitized, and decarbonized energy management system. The article presents an overview of the development progress from three perspectives, including academic research, the deployment of companies and pilot projects, and government support policies. Then a different taxonomy is developed to demonstrate and highlighted the different applications. Finally, the future trends and challenges hindering the effective implementation of energy blockchain are discussed. The results show that energy blockchain is an effective innovation technology to accelerate the transformation of global energy structure. Multinational cooperation and government-leading are the basis of large-scale deployment of energy blockchain. The improvement of regulatory mechanisms and standards is the key to the commercial application of energy blockchain. This study is a comprehensive analysis of energy blockchain applications, which is expected to support decision making for its future development.

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“…To prevent malicious data mining and linking threats, the authors in [ 40 ] proposed a technique that adds random noise to the distribution of trade. In addition, there was an effort to achieve a secure trading mode on a cross-chain trading platform for multi-microgrid systems by providing key management and interoperability protocols [ 41 ]. Moreover, secure search schemes over encrypted data on blockchain for e-commerce and electronic health records were proposed in [ 42 , 43 ] However, the only previous work in the literature that allows direct trading transactions on encrypted data was [ 13 ].…”

Section: Background and Related Workmentioning

confidence: 99%

Efficient and Privacy-Preserving Energy Trading on Blockchain Using Dual Binary Encoding for Inner Product Encryption

Gaybullaev

Kwon

Kim

et al. 2021

Sensors

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The rapidly increasing expansion of distributed energy resources (DER), such as renewable energy systems and energy storage systems into the electric power system and the integration of advanced information and communication technologies enable DER owners to participate in the electricity market for grid services. For more efficient and reliable power system operation, the concept of peer-to-peer (P2P) energy trading has recently been proposed. The adoption of blockchain technology in P2P energy trading has been considered to be the most promising solution enabling secure smart contracts between prosumers and users. However, privacy concerns arise because the sensitive data and transaction records of the participants, i.e., the prosumers and the distribution system operator (DSO), become available to the blockchain nodes. Many efforts have been made to resolve this issue. A recent breakthrough in a P2P energy trading system on an Ethereum blockchain is that all bid values are encrypted using functional encryption and peer matching for trading is performed securely on these encrypted bids. Their protocol is based on a method that encodes integers to vectors and an algorithm that securely compares the ciphertexts of these vectors. However, the comparison method is not very efficient in terms of the range of possible bid values because the amount of computation grows linearly according to the size of this range. This paper addresses this challenge by proposing a new bid encoding algorithm called dual binary encoding, which dramatically reduces the amount of computation as it is only proportional to the square of the logarithm of the size of the encoding range. Moreover, we propose a practical mechanism for rebidding the remaining amount caused when the amounts from the two matching peers are not equal. Finally, the feasibility of the proposed method is evaluated by using a virtual energy trade testbed and a private Ethereum blockchain platform.

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Dynamic Adaptive Cross-Chain Trading Mode for Multi-Microgrid Joint Operation

Cited by 23 publications

References 43 publications

Towards Interoperable Blockchains: A Survey on the Role of Smart Contracts in Blockchain Interoperability

Towards Interoperable Blockchains: A Survey on the Role of Smart Contracts in Blockchain Interoperability

A comprehensive review of energy blockchain: Application scenarios and development trends

Efficient and Privacy-Preserving Energy Trading on Blockchain Using Dual Binary Encoding for Inner Product Encryption

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