Design of a Peer-to-Peer Energy Trading Platform Using Multilayered Semi-Permissioned Blockchain
Open Access
- 1 January 2022
- journal article
- research article
- Published by Scientific Research Publishing, Inc. in International Journal of Communications, Network and System Sciences
- Vol. 15 (07), 94-110
- https://doi.org/10.4236/ijcns.2022.157008
Abstract
A secured and scalable Peer-to-Peer (P2P) energy trading platform can facilitate the integration of renewable energy and thus contribute to building sustainable energy infrastructure. The decentralized architecture of blockchain makes it a befitting candidate to actualize an efficient P2P energy trading market. However, for a sustainable and dynamic blockchain-based P2P energy trading platform, few critical aspects such as security, privacy and scalability need to be addressed with high priority. This paper proposes a blockchain-based solution for energy trading among the consumers which ensures the systems’ security, protects users’ privacy, and improves the overall scalability. More specifically, we develop a multilayered semi-permissioned blockchain-based platform to facilitate energy transactions. The practical byzantine fault tolerant algorithm is employed as the underlying consensus for verification and validation of transactions which ensures the system’s tolerance against internal error and malicious attacks. Additionally, we introduce the idea of quality of transaction (QoT)—a reward system for the participants of the network that eventually helps determine the participant’s eligibility for future transactions. The resiliency of the framework against the transaction malleability attack is demonstrated with two uses cases. Finally, a qualitative analysis is presented to indicate the system’s usefulness in improving the overall security, privacy, and scalability of the network.Keywords
This publication has 13 references indexed in Scilit:
- Energy Crowdsourcing and Peer-to-Peer Energy Trading in Blockchain-Enabled Smart GridsIEEE Transactions on Systems, Man, and Cybernetics: Systems, 2019
- Peer-to-Peer EnergyTrade: A Distributed Private Energy Trading PlatformPublished by Institute of Electrical and Electronics Engineers (IEEE) ,2019
- Blockchains for decentralized optimization of energy resources in microgrid networksPublished by Institute of Electrical and Electronics Engineers (IEEE) ,2017
- Performance Analysis of Private Blockchain Platforms in Varying WorkloadsPublished by Institute of Electrical and Electronics Engineers (IEEE) ,2017
- Smart contract-based campus demonstration of decentralized transactive energy auctionsPublished by Institute of Electrical and Electronics Engineers (IEEE) ,2017
- Security and Privacy in Decentralized Energy Trading Through Multi-Signatures, Blockchain and Anonymous Messaging StreamsIEEE Transactions on Dependable and Secure Computing, 2016
- Blockchain Platform for Industrial Internet of ThingsJournal of Software Engineering and Applications, 2016
- NRGcoin: Virtual currency for trading of renewable energy in smart gridsPublished by Institute of Electrical and Electronics Engineers (IEEE) ,2014
- RBFT: Redundant Byzantine Fault TolerancePublished by Institute of Electrical and Electronics Engineers (IEEE) ,2013
- Smart meter privacy using a rechargeable battery: Minimizing the rate of information leakagePublished by Institute of Electrical and Electronics Engineers (IEEE) ,2011