A secure distributed ledger for transactive energy: The Electron Volt Exchange (EVE) blockchain

Abstract

The adoption of blockchain for Transactive Energy has gained significant momentum as it allows mutually non-trusting agents to trade energy services in a trustless energy market. Research to date has assumed that the built-in Byzantine Fault Tolerance in recording transactions in a ledger is sufficient to ensure integrity. Such work must be extended to address security gaps including random bilateral transactions that do not guarantee reliable and efficient market operation, and market participants having incentives to cheat when reporting actual production/consumption figures. Work herein introduces the Electron Volt Exchange framework with the following characteristics: 1) a distributed protocol for pricing and scheduling prosumers' production/consumption while keeping constraints and bids private, and 2) a distributed algorithm to prevent theft that verifies prosumers' compliance to scheduled transactions using information from grid sensors (such as smart meters) and mitigates the impact of false data injection attacks. Flexibility and robustness of the approach are demonstrated through simulation and implementation using Hyperledger Fabric.

Prioritizing Energy Blockchain Use Cases Using Type-2 Neutrosophic Number-Based EDAS

“…DER is expected to present unprecedented advantages compared to traditional centralized approaches such as lowered electrical transmission losses, security of supply, and advanced efficiency [24]. Individuals (either residential, industrial, or commercial) or a collective entity (aggregator, [25]) can be the source of local generation which then can act as a generator agent or can perform various ancillary services (such as load shaving) [26]. However, due to several economic, technical, social, and regulatory problems, the worldwide deployment rate of DER is still relatively low despite the advantages [27].…”

“…[46]. Ensuring security, transparency, and privacy in an aggregatorbased market is achievable by integrating blockchain while reducing communication latency and computation time [25].…”

Standardization of Smart Contracts for Energy Markets and Operation

“…These areas are briefly explained below: 1) Data recording: In energy use cases, DLTs can store all types of operational data through immutable digital data recording allowing transparent access to all participants. For example, authors in [9] leveraged the DLTs to develop a distributed pricing and verification algorithm for a transactive energy market. Adequate mechanisms for ensuring the privacy and cybersecurity of the data must be developed, ensuring competitive advantages and compliance requirements are met (to be addressed by the cybersecurity TF).…”

Exploratory literature review of blockchain in the construction industry

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