Integrated Energy Transaction Mechanisms Based on Blockchain Technology

Zhao, Shengnan; Wang, Beibei; Li, Yachao; Yang, Li

doi:10.3390/en11092412

Cited by 55 publications

(20 citation statements)

References 34 publications

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“…Next task is to schedule storage and manage forecasted load as given in equation (5), (6) and (9) constraints and home priorities (price and GHG-based). These priorities are already defined for each home based on their economic condition and personal priorities.…”

Section: F Energy Market Management Controllermentioning

confidence: 99%

“…The objective is to distribute the energy resources cost output with zero margin by decentralizing the formulation of average pricing market mechanism. In [9], trading mechanism is proposed with decentralized scheme for distributed energy with the help of block chain method. A multi-objective optimization is proposed in [10], to solve the energy management based economic and environmental problem for MG using Mixed Integral Linear Programming (MILP).…”

Section: Introductionmentioning

confidence: 99%

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Multi Objective Based Framework for Energy Management of Smart Micro-Grid

et al. 2020

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The increasing demand of energy in the traditional grids is getting more complex, less feasible, harmful, uneconomical and high in power losses. This paper presents an efficient energy management approach to mitigate such issues with smart micro grid (SMG) and aims at a solution that is both cost effective and ecofriendly, within energy market paradigm. Goals are achieved with the help of Home Energy Management Controller (HEMC), Energy Market Management Controller (EMMC) and Control Agent (CA). The individual load is managed in the presence of local generation, storage system, user comfort, DGs and Utility within energy market paradigm. Two level energy management approach is proposed to achieve concerned goals. First is to manage load and schedule storage with respect to individual local generation and market pricing. Second is to manage energy market with the help of four different types of priorities and control agent input. The problem is solved with a variant of meta-heuristic method, Multi Objective Grey Wolf Optimization (MOGWO), which gives more comprehensive solution by comparing with Particle Swarm Optimization (PSO). The proposed methodology is implemented on a SMG based-community test system. Homes within that community have different economic conditions and personal priorities. Simulation results demonstrates achievement of aimed goals in presented work. INDEX TERMS Control agent, energy market management controller, multi objective grey wolf optimization, home energy management controller, local generation, market management, micro-grid, particle swarm optimization, renewable energy resources

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Section: F Energy Market Management Controllermentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Multi Objective Based Framework for Energy Management of Smart Micro-Grid

et al. 2020

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“…Price is seen as a motivating factor for involving consumers in DR services and finally for avoiding the problems generated by the voltage stability issue. The blockchain-based energy transaction platforms can work in a decentralized fashion being also able to split the trading process into a call auction stage and a continued auction stage [ 8 ]. In this approach smart contracts attached to a transaction are developed on top of an Ethereum private blockchain and simulations show that the solution can achieve transaction settlement without the involvement of centralized entities.…”

Section: Related Workmentioning

confidence: 99%

Blockchain and Demand Response: Zero-Knowledge Proofs for Energy Transactions Privacy

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Cioara

et al. 2020

Sensors

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Nowadays, the adoption of demand response programs is still lagging due to the prosumers’ lack of awareness, fear of losing control and privacy of energy data, etc. Programs decentralization, by adopting promising technologies such as blockchain, may bring significant advantages in terms of transparency, openness, improved control, and increased active participation of prosumers. Nevertheless, even though in general the transparency of the public blockchain is a desirable feature in the energy domain, the prosumer energy data is sensitive and rather private, thus, a privacy-preserving solution is required. In this paper, we present a decentralized implementation of demand response programs on top of the public blockchain which deals with the privacy of the prosumer’s energy data using zero-knowledge proofs and validates on the blockchain the prosumer’s activity inside the program using smart contracts. Prosumer energy data is kept private, while on the blockchain it is stored a zero-knowledge proof that is generated by the prosumer itself allowing the implementation of functions to validate potential deviations from the request and settle prosumer’s activity. The solution evaluation results are promising in terms of ensuring the privacy of prosumer energy data stored in the public blockchain and detecting potential data inconsistencies.

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“…To improve the speed of the transaction processing and save transaction fees, the off-chain mechanism enables deploying only the on-chain process onto the blockchain. 86 This conserves the resources of the blockchain and hides the sensitive information involved in the off-chain transactions from the public. 18,87 In the distributed electricity trading system introduced by Luo et al, 88 a multi-agent negotiation system runs between prosumers in the off-chain for contract negotiation.…”

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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Integrated Energy Transaction Mechanisms Based on Blockchain Technology

Cited by 55 publications

References 34 publications

Multi Objective Based Framework for Energy Management of Smart Micro-Grid

Multi Objective Based Framework for Energy Management of Smart Micro-Grid

Blockchain and Demand Response: Zero-Knowledge Proofs for Energy Transactions Privacy

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

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