A Novel Energy Trading Framework Using Adapted Blockchain Technology

Hamouda, Mohamed; Nassar, Mohamed; Salama, M.M.A.

doi:10.1109/tsg.2020.3045662

Cited by 53 publications

(22 citation statements)

References 23 publications

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“…However, none of the proposed techniques provided either a SBD strategy for participating MGs or a secure monetary fund. While the authors in one work did present the concept of Peer-to-System-to-Peer (P2S2P) as a unique solution to enable energy trading using an adapted blockchain structure, the work was limited to introducing the blockchain adaptation and integration rather than the negotiations and market settlements in IMGs with different preferences [32].…”

Section: Contributionmentioning

confidence: 99%

“…Afterwards, they can trade with others seeking extra benefits, where feasible. Therefore, in this structure, each MG has its own Energy Management System (EMS) that runs an energy trading engine (as proposed in the present authors' previous work [32]), which determines their internal MCP. They then participate in the IMG energy trading platform to gain more benefits by either exporting surplus energy or importing cheap energy.…”

Section: Centralized Energy Trading Structurementioning

confidence: 99%

“…Blockchain technology is used in the proposed framework to promote the independent operation of participating MGs and to utilize the numerous benefits blockchains offer. In [32], the authors presented a blockchain structure that can work as a monetary fund for individual grids and handle the intra-gird transactions. However, this blockchain has to be interconnected with other chains in order to enable trading in the case of an interconnected market.…”

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

“…Two consensus algorithms are used in the proposed TLSC structure. One is the Proof of Work (PoW) consensus, which is used for mining blocks inside each MG, employing the same concept proposed in [32]. The other algorithm is the Proof of Authority (PoA) consensus (i.e., Proof of Identity), which is used by the DSO to mine the IGS's blocks.…”

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

“…As shown in Fig. 7, the interconnection between the local energy trading engine proposed in [32] and the centralized trading framework presented in this paper could be summarized to the following steps:…”

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

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Centralized Blockchain-Based Energy Trading Platform for Interconnected Microgrids

2021

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Inter-connected Microgrids (IMGs) have emerged as a promising structure for future grids, offering resilience and independence in energy exchangeability with neighbours. To enable such interconnected structure, an interconnected market between individual Microgrids (MGs) participating via an agent (i.e., Energy Management System [EMS]) is required. Each agent is Self-Benefit-Driven (SBD), which means that it works in the best interests of its own MG. Therefore, energy trading is established to enhance these benefits. In this paper, a new strategy is proposed for IMG energy trading that considers SBD actions for MGs' agents, and a unique utility function for each MG is defined. The function includes import and/or export benefits for each MG. Furthermore, the definition of the utility also considers the MG's different objectives when importing versus exporting. A centralized Nash bargaining model is proposed for IMG energy trading to ensure fair settlements through a central entity (e.g., Distributed System Operator [DSO]). The proposed algorithm is developed using an adapted blockchain that enhances the security and transparency of the platform. The effectiveness of the proposed strategy is verified using a number of case studies.

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Section: Contributionmentioning

confidence: 99%

Section: Centralized Energy Trading Structurementioning

confidence: 99%

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

Section: Centralized Platform Monetary Fundmentioning

confidence: 99%

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Centralized Blockchain-Based Energy Trading Platform for Interconnected Microgrids

2021

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Electrification of Transportation

Ranjbar¹,

Sharifzadeh²

2022

Industry 4.0 Vision for Energy and Materials

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When energy meets blockchain: A systematic exposition of policies, research hotspots, applications, and prospects

Zha

Feng

Gong

et al. 2021

Intl J of Energy Research

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Nowadays, energy development has been plagued by such problems as the difficulty of controlling energy development and ensuring the balance of supply and demand, the serious overcapacity, and the redundancy of energy resource circulation. Blockchain technology is highly compatible with such field because of its features including decentralization, openness, independence, security, anonymity, etc. The current studies on "blockchain+energy" are focused on the application and remain insufficient on the current situation of cooperation between various subjects, with most research featuring qualitative analysis. This article employs Vosviewer for bibliometric analysis and then, from both qualitative and quantitative perspectives, provides a systematic literature review in the field of "blockchain+energy" via scientific cartography. Meanwhile, this review is diversified for also analyzing ample aspects, such as policies and regulations, national cooperation, institutional cooperation, author cooperation, research hotspots, research differences, application progress, development trend, etc. Based on the research results, policy recommendations are proposed in terms of external environment and internal technology, including one that the external environment should focus on policy support and talent cultivation, and the internal technology should focus on blockchain core technology development and security control. In this way, this article aims to provide reference for the future blockchain research, application model innovation, and relevant policy makers.

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A Novel Energy Trading Framework Using Adapted Blockchain Technology

Cited by 53 publications

References 23 publications

Centralized Blockchain-Based Energy Trading Platform for Interconnected Microgrids

Centralized Blockchain-Based Energy Trading Platform for Interconnected Microgrids

Electrification of Transportation

When energy meets blockchain: A systematic exposition of policies, research hotspots, applications, and prospects

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