scholarly journals A Decentralized Bilateral Energy Trading System for Peer-to-Peer Electricity Markets

2020 ◽  
Vol 67 (6) ◽  
pp. 4646-4657 ◽  
Author(s):  
Mohsen Khorasany ◽  
Yateendra Mishra ◽  
Gerard Ledwich
Keyword(s):  
Electricity Markets ◽  
Peer To Peer ◽  
Trading System ◽  
Energy Trading

scholarly journals Credible Peer-to-Peer Trading with Double-Layer Energy Blockchain Network in Distributed Electricity Markets

Electronics ◽  
2021 ◽  
Vol 10 (15) ◽  
pp. 1815
Author(s):  
Longze Wang ◽  
Yu Xie ◽  
Delong Zhang ◽  
Jinxin Liu ◽  
Siyu Jiang ◽  
...  
Keyword(s):  
Double Layer ◽  
Electricity Markets ◽  
Electricity Market ◽  
Peer To Peer ◽  
Malicious Nodes ◽  
Energy Trading ◽  
Contract Performance ◽  
Trading Model ◽  
Consensus Information ◽  
Available Information

Blockchain-based peer-to-peer (P2P) energy trading is one of the most viable solutions to incentivize prosumers in distributed electricity markets. However, P2P energy trading through an open-end blockchain network is not conducive to mutual credit and the privacy protection of stakeholders. Therefore, improving the credibility of P2P energy trading is an urgent problem for distributed electricity markets. In this paper, a novel double-layer energy blockchain network is proposed that stores private trading data separately from publicly available information. This blockchain network is based on optimized cross-chain interoperability technology and fully considers the special attributes of energy trading. Firstly, an optimized ring mapping encryption algorithm is designed to resist malicious nodes. Secondly, a consensus verification subgroup is built according to contract performance, consensus participation and trading enthusiasm. This subgroup verifies the consensus information through the credit-threshold digital signature. Thirdly, an energy trading model is embedded in the blockchain network, featuring dynamic bidding and credit incentives. Finally, the Erenhot distributed electricity market in China is utilized for example analysis, which demonstrates the proposed method could improve the credibility of P2P trading and realize effective supervision.

scholarly journals Demonstration of Blockchain Based Peer to Peer Energy Trading System with Real-Life Used PHEV and HEMS Charge Control

Energies ◽  
2021 ◽  
Vol 14 (22) ◽  
pp. 7484
Author(s):  
Yuki Matsuda ◽  
Yuto Yamazaki ◽  
Hiromu Oki ◽  
Yasuhiro Takeda ◽  
Daishi Sagawa ◽  
...  
Keyword(s):  
Supply And Demand ◽  
Real Life ◽  
Energy System ◽  
Energy Markets ◽  
Peer To Peer ◽  
Renewable Energy Resources ◽  
Trading System ◽  
Energy Trading ◽  
Demonstration Experiment ◽  
Home Energy Management

To further implement decentralized renewable energy resources, blockchain based peer-to-peer (P2P) energy trading is gaining attention and its architecture has been proposed with virtual demonstrations. In this paper, to further socially implement this concept, a blockchain based peer to peer energy trading system which could coordinate with energy control hardware was constructed, and a demonstration experiment was conducted. Previous work focused on virtually matching energy supply and demand via blockchain P2P energy markets, and our work pushes this forward by demonstrating the possibility of actual energy flow control. In this demonstration, Plug-in Hybrid Electrical Vehicles(PHEVs) and Home Energy Management Systems(HEMS) actually used in daily life were controlled in coordination with the blockchain system. In construction, the need of a multi-tagged continuous market was found and proposed. In the demonstration experiment, the proposed blockchain market and hardware control interface was proven capable of securing and stably transmitting energy within the P2P energy system. Also, by the implementation of multi-tagged energy markets, the number of transactions required to secure the required amount of electricity was reduced.

A novel Confidential Consortium Blockchain framework for peer to peer energy trading

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Nihar Ranjan Pradhan ◽  
Akhilendra Pratap Singh ◽  
Kaibalya Prasad Panda ◽  
Diptendu Sinha Roy
Keyword(s):  
Rate Control ◽  
Feasible Solution ◽  
Functional Model ◽  
Peer To Peer ◽  
Consensus Protocol ◽  
Trading System ◽  
Energy Trading ◽  
Elapsed Time ◽  
Smart Contract ◽  
And Performance

Abstract The vital dependence of peer to peer (P2P) energy trading frameworks on creative Internet of Things (IoT) has been making it more vulnerable against a wide scope of attacks and performance bottlenecks like low throughput, high latency, high CPU, memory use, etc. This hence compromises the energy exchanging information to store, share, oversee, and access. Blockchain innovation as a feasible solution, works with the rule of untrusted members. To alleviate this threat and performance issues, this paper presents a Blockchain based Confidential Consortium (CoCo) P2P energy trading system that works on the trust issues among the energy exchanging networks and limits performance parameters. It reduces the duplicate validation by creating a trusted network on nodes, where participants identities are known and controlled. A Java-script-based smart contract is sent over the Microsoft CoCo system with Proof of Elapsed Time (PoET) consensus protocol. Also, a functional model is designed for the proposed framework and the performance bench-marking has been done considering about latency, throughput, transaction rate control, success and fail transaction, CPU and memory usage, network traffic. Additionally, it is shown that PoET’s performance is superior to proof of work (PoW) for multi-hosting conditions. The measured throughput and latency moving toward database speeds with more flexible, business-specific confidentiality models, network policy management through distributed governance, support for non-deterministic transactions, and reduced energy consumption.

Blockchain insisted resilience enhancement of power electricity markets using distributed energy trading

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Dipanjan Bose ◽  
Chandan Kumar Chanda ◽  
Abhijit Chakrabarti
Keyword(s):  
Electricity Markets ◽  
Power Grid ◽  
Vital Role ◽  
Distributed Energy ◽  
Trading System ◽  
Energy Trading ◽  
Traditional System ◽  
Security Technologies ◽  
Supply And Distribution ◽  
Distribution Process

Abstract The resilience of the power grid is taking a vital role in the energy supply and distribution process. But due to the rapid growth of integration of renewable distributed energy sources to the traditional power grid, the nature of the trading system is shifted from the centralized to decentralized or distributed manner. Blockchain is one of the most emerging security technologies that change the dimension of the financial and energy sector with openness and complete freedom. Blockchain implemented distributed energy trading promotes decentralized electricity markets. The physical system consists of the planning of the routing of energy from one place to another. A user can not send power to another customer in any severe outage or natural disaster in a traditional system. The user cannot participate in the trade globally. So in this proposed methodology, the connections of each customer to the central grid through several microgrids have been shown. In this work, an innovative approach in trading and finding a solution to a payment method is proposed. Ethereum blockchain-based smart contracts completed the entire trading system in automation mode in our proposed system. Any power outage at one place can be compensated by routing a new path of energy inflow from another active source, which enhances the system’s resiliency to a certain degree. While trading, no third parties will be engaged so that the transaction is efficient and fast.

scholarly journals A Smart Contract-Based P2P Energy Trading System with Dynamic Pricing on Ethereum Blockchain

Sensors ◽  
2021 ◽  
Vol 21 (6) ◽  
pp. 1985
Author(s):  
Jae Geun Song ◽  
Eung seon Kang ◽  
Hyeon Woo Shin ◽  
Ju Wook Jang
Keyword(s):  
Virtual Machine ◽  
Dynamic Pricing ◽  
Peer To Peer ◽  
Trading System ◽  
Energy Trading ◽  
State Diagrams ◽  
Autonomous Operation ◽  
Smart Contract ◽  
Energy Trade ◽  
Automatic Balancing

We implement a peer-to-peer (P2P) energy trading system between prosumers and consumers using a smart contract on Ethereum blockchain. The smart contract resides on a blockchain shared by participants and hence guarantees exact execution of trade and keeps immutable transaction records. It removes high cost and overheads needed against hacking or tampering in traditional server-based P2P energy trade systems. The salient features of our implementation include: 1. Dynamic pricing for automatic balancing of total supply and total demand within a microgrid, 2. prevention of double sale, 3. automatic and autonomous operation, 4. experiment on a testbed (Node.js and web3.js API to access Ethereum Virtual Machine on Raspberry Pis with MATLAB interface), and 5. simulation via personas (virtual consumers and prosumers generated from benchmark). Detailed description of our implementation is provided along with state diagrams and core procedures.

scholarly journals Minimizing Energy Loss over Distance and Activating the Energy Trading System in Microgrid

2019 ◽  
Vol 260 ◽  
pp. 01003
Author(s):  
Sang Hyeon Lee ◽  
Myeong-in Choi ◽  
SangHoon Lee ◽  
SoungHoan Park ◽  
Sehyun Park
Keyword(s):  
Energy Loss ◽  
Power Line ◽  
Peer To Peer ◽  
Small Scale ◽  
Distributed Energy ◽  
Trading System ◽  
Energy Trading ◽  
Trading Systems ◽  
Efficient Energy ◽  
Electricity Trade

As small-scale distributed energy is gradually expanding, commercialization of peer to peer(P2P) energy trading that freely exchanges energy among individuals in various countries is being commercialized, and the Microgrids (MGs) are considered to be an optimal platform for P2P energy trading. Although conducting electricity trade among individuals without going through power companies is still in its infancy, it is expected to expand gradually as the awareness of the shared economy grows and the MG spreads. Research on more efficient trading systems is needed while trading energy in MG. Therefore we propose a more efficient energy trading system that minimizes the loss in proportion to the distance of the power line when energy trading is performed in the MG. We have constructed a virtual MG environment and experimented with energy trading scenarios. As a result, when the algorithm is applied, loss in proportion to the distance is reduced by 2.495% and energy trading becomes more active. The amount of energy and the number of trades increased by 1.5 times during the energy trading process.

scholarly journals Influence of Features on Accuracy of Anomaly Detection for an Energy Trading System

Sensors ◽  
2021 ◽  
Vol 21 (12) ◽  
pp. 4237
Author(s):  
Hoon Ko ◽  
Kwangcheol Rim ◽  
Isabel Praça
Keyword(s):  
Anomaly Detection ◽  
Real Time ◽  
Feature Detection ◽  
Trading System ◽  
Judgment Accuracy ◽  
Energy Trading ◽  
Real Time Processing ◽  
Detection Model ◽  
Time Required ◽  
The Relationship

The biggest problem with conventional anomaly signal detection using features was that it was difficult to use it in real time and it requires processing of network signals. Furthermore, analyzing network signals in real-time required vast amounts of processing for each signal, as each protocol contained various pieces of information. This paper suggests anomaly detection by analyzing the relationship among each feature to the anomaly detection model. The model analyzes the anomaly of network signals based on anomaly feature detection. The selected feature for anomaly detection does not require constant network signal updates and real-time processing of these signals. When the selected features are found in the received signal, the signal is registered as a potential anomaly signal and is then steadily monitored until it is determined as either an anomaly or normal signal. In terms of the results, it determined the anomaly with 99.7% (0.997) accuracy in f(4)(S0) and in case f(4)(REJ) received 11,233 signals with a normal or 171anomaly judgment accuracy of 98.7% (0.987).

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