A Market Place Solution for Energy Transaction on Ethereum Blockchain

Park, Chol Hyun; Barlongo, Ivanrey Mejia; Kim, Yoohwan

doi:10.1109/iemcon.2019.8936157

Cited by 10 publications

(3 citation statements)

References 11 publications

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“…In addition, the system incorporates an IPFS database to handle the generated files from the smart home, thus inherently enabled to prevent DDoS attacks. An Ethereum blockchain-based web-interface solution to handle the facilitation of renewable energy transactions in an effortless and efficient way was also proposed as a solution that describes the ability to perform energy transactions in near-real time from a prosumer to consumer without the need of a central authority [38]. On the other hand, Devi et al proposed a design architecture for satellite monitoring by merging IoT and blockchain that resulted in a new architectural framework, which enhanced security and data transparency through the implementation of consensus algorithms to predict various satellite performance parameters [39].…”

Section: Blockchain and Iot Integrationmentioning

confidence: 99%

An Ethereum Private Network for Data Management in Blockchain of Things Ecosystem

Alzoubi

Saadeddin²,

Dmour³

2023

Int. J. Onl. Eng.

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The advent of blockchain technology in the development and design of smart internet of things (IoT) systems offers the opportunity to secure and transfer data flow, preserve its integrity, and provide transparent mechanisms for its management. Blockchain has actually attracted applications in vital fields because it provides many advantages over centralized database such as traceability, confidentiality, availability and trust. A private network offers the most secure and peer-restricted environment for big data flow, specifically in IoT ecosystems. An integrated blockchain-IoT ecosystem in which three Raspberry Pi 4 nodes communicate and interact in a closed loop to control smart applications via an Ethereum platform in a secure and an efficiently emulated environment is piloted. The proposed blockchain of things (BCoT) ecosystem adds a new layer to the physical, network and application layers of a typical IoT architecture. The concept of a fully decentralized private Ethereum BCoT network may find applications in several fields that call for the removal of single-point of failure and ensures data integrity and transparency.

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Section: Blockchain and Iot Integrationmentioning

confidence: 99%

An Ethereum Private Network for Data Management in Blockchain of Things Ecosystem

Alzoubi

Saadeddin²,

Dmour³

2023

Int. J. Onl. Eng.

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“…Smart contracts can store contractual commitments data such as involved participants, the quantity of energy to be traded, price, and time of delivery. Additionally, it can store the data of real production, real consumption, or participant action [55], [56].…”

Section: ) Data Storagementioning

confidence: 99%

Review of Blockchain Potential Applications in the Electricity Sector and Challenges for Large Scale Adoption

2022

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Blockchain technology applications in the electricity sector are getting considerable attention from both academia and industry. It is expected that blockchain will play an important role in the transition to the smart grid. The blockchain applications in the electricity sector can be classified to optimizing existing processes like metering and billing or grid management and using blockchain for emerging applications such as creating new platforms for value exchange like peer-to-peer (P2P) energy trading. This paper briefly introduces the fundamentals of blockchain technology, such as different types of blockchain networks and consensus mechanisms, in addition to introducing a few blockchain platforms that are widely used in current studies, projects, and startups or may have future potential in the electricity sector applications. The contribution of this paper is to provide a review of potential applications of blockchain in many electricity sector use cases, and they are categorized into eight categories such as P2P energy trading, wholesale markets, retail markets, metering and billing, trading of renewable energy certificates (RECs) and carbon credits, electric mobility, enhancement of power system cyber security, investments in renewable energy sources (RESs), and power system operation and management. Moreover, examples of research studies, pilot projects, industrial projects, startups, or companies investigating the blockchain capabilities at each potential application are introduced. Furthermore, the studies presented in each use case are compared to clarify and highlight the blockchain functions and involved actors. Finally, the paper discusses the challenges that blockchain technology is facing that obstruct large-scale adoption in different sectors and in the electricity sector specifically and potential solutions to these challenges that are being developed.INDEX TERMS Blockchain applications, distributed ledger technologies, distributed ledger technologies applications, peer-to-peer energy trading, local electricity markets, electric vehicles, smart grid.

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“…In Ref. [6], experiments were conducted to implement electricity transactions among prosumers without relying on a third-party central authority, and it was demonstrated that reducing the number of tokens used for processing decreases the transaction time. In Ref.…”

Section: Introductionmentioning

confidence: 99%

Merit Evaluation of Peer‐to‐Peer Electricity Trading Between Prosumers

Odashiro¹,

Hara²,

Kita³

2022

IEEJ Transactions Elec Engng

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The enforcement of a feed‐in tariff (FIT) program in Japan has increased the number of installations of photovoltaic generation systems in its residential sector. After the end of an FIT program, the surplus electricity of an individual prosumer is purchased by the utility company at a reduced price, which may have an economic impact on the prosumer. To avoid this adverse effect, peer‐to‐peer (P2P) electricity transactions among prosumers based on blockchain and smart contract technologies as well as introduction of residence‐use stationary storage batteries are generating significant interest. In this study, the potential economic merit of P2P transactions and residential storage battery introduction are evaluated using a total optimization approach. For realizing a more practical perspective, this study also investigates the economic merit based on a partial optimization approach, in which an individual prosumer pursues its own profit. Furthermore, in this study, the grid‐side merit of P2P electricity transactions among prosumers is examined. Comparison of the merits determined by the total and partial optimization approaches shows that the realization of P2P transactions could provide a notable economic merit to the participants and reduce both the required facility capacity and power flow variation. © 2022 Institute of Electrical Engineers of Japan. Published by Wiley Periodicals LLC.

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A Market Place Solution for Energy Transaction on Ethereum Blockchain

Cited by 10 publications

References 11 publications

An Ethereum Private Network for Data Management in Blockchain of Things Ecosystem

An Ethereum Private Network for Data Management in Blockchain of Things Ecosystem

Review of Blockchain Potential Applications in the Electricity Sector and Challenges for Large Scale Adoption

Merit Evaluation of Peer‐to‐Peer Electricity Trading Between Prosumers

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