Blockchain-Based Peer-to-Peer Sustainable Energy Trading in Microgrid using Smart Contracts

Niloy, Fardin Ahmed; Nayeem, Md. Abu; Rahman, Md. Majedur; Dowla, Md. Nozib Ud

doi:10.1109/icrest51555.2021.9331007

Cited by 10 publications

(4 citation statements)

References 17 publications

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“…Blockchain technology can be leveraged within microgrids to attain secure, transparent, and reliable energy trading and management systems [49]. In addition, the integration of blockchain and DT is seamless, as blockchain can be combined with DT models' creation, access, and control to safeguard data and record events, thereby ensuring the security of DT.…”

Section: Other Information Technologiesmentioning

confidence: 99%

Emerging Information Technologies for the Energy Management of Onboard Microgrids in Transportation Applications

Huang,

Xiao,

Gao

et al. 2023

Energies

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The global objective of achieving net-zero emissions drives a significant electrified trend by replacing fuel-mechanical systems with onboard microgrid (OBMG) systems for transportation applications. Energy management strategies (EMS) for OBMG systems require complicated optimization algorithms and high computation capabilities, while traditional control techniques may not meet these requirements. Driven by the ability to achieve intelligent decision-making by exploring data, artificial intelligence (AI) and digital twins (DT) have gained much interest within the transportation sector. Currently, research on EMS for OBMGs primarily focuses on AI technology, while overlooking the DT. This article provides a comprehensive overview of both information technology, particularly elucidating the role of DT technology. The evaluation and analysis of those emerging information technologies are explicitly summarized. Moreover, this article explores potential challenges in the implementation of AI and DT technologies and subsequently offers insights into future trends.

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Section: Other Information Technologiesmentioning

confidence: 99%

Emerging Information Technologies for the Energy Management of Onboard Microgrids in Transportation Applications

Huang,

Xiao,

Gao

et al. 2023

Energies

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“…Inherent features of blockchain allow P2P ET. For example, Niloy et al (2021) have proposed a Blockchain-based P2P ET system. It facilitates the local consumer in two major ways:…”

Section: Blockchain Based Peer-to-peer Energy Tradingmentioning

confidence: 99%

“…Blockchain-based Smart grid management Pop et al, 2018;Alladi et al, 2019;Cioara et al, 2020;Badra and Borghol, 2021;Chikezie et al, 2021;Samy et al, 2021 Peer-to-peer energy trading Lee et al, 2019;Pee et al, 2019;Seven et al, 2020;Thakur and Breslin, 2020;Chikezie et al, 2021;Niloy et al, 2021 IoT-based Trading in Industrial IoT Lin et al, 2017;Hou et al, 2019;Li et al, 2020b;Zhu et al, 2022 Trading in general IoT Ku et al, 2017;Verma and Prakash, 2019;Nguyen et al, 2020Nguyen et al, , 2021Salvi et al, 2020;Kaushik and Bagga, 2021;Nadeem et al, 2021 Blockchain and IoT based Utilizing both technologies Sanju et al, 2018;Hou et al, 2019;Baig et al, 2020;Li et al, 2020b Implementation platforms Ethereum Sanju et al, 2018;Lee et al, 2019;Baig et al, 2020;Li et al, 2020b;Seven et al, 2020;Chikezie et al, 2021 Hyperledger fabric Sanju et al, 2018;Ali et al, 2020b;Syed et al, 2020Smart, Micro, Mini Grid Ku et al, 2017Pop et al, 2018;Cioara et al, 2020;Salvi et al, 2020;…”

Section: Recent Researchmentioning

confidence: 99%

A survey on peer-to-peer energy trading for local communities: Challenges, applications, and enabling technologies

Nadeem

2022

Front. Comput. Sci.

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Electricity is still a highly demanding resource in developing countries, especifically in rural areas. Local communities in developing countries are now focusing on generating their own electricity using solar and trading the energy which is in access to the supplier. Energy trading at the peer-to-peer level is a novel paradigm. It allows customers to contribute energy to the grid and power generation and supply companies. In this paper, we investigate the energy trading enabling technologies, their applications, challenges, and benefits to the local communities from various aspects. We analyse how blockchain and IoT technologies can help energy trading at the customer level from recent research proposals. We also present our analysis of recent research on the implementation of energy trading technologies and future directions.

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“…Many blockchain ecosystems and blockchain based systems utilise either EVM or virtual machines similar to EVM, and support Solidity programming language for smart contracts (e.g. [32,33,34,35] etc. ), and for this reason there are also studies available on the performance [36], security [37], and inspection [38] of the programming language.…”

Section: Design Decisions On the Experimentation Environmentmentioning

confidence: 99%

Max-min Fairness Based Faucet Design for Blockchains

Metin¹,

Özturan²

2021

Preprint

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In order to have transactions executed and recorded on blockchains such as the Ethereum Mainnet, fees expressed in crypto-currency units of the blockchain must be paid. One can buy crypto-currency called Ether of the Ethereum blockchain from exchanges and pay for the transaction fees. In the case of test networks (such as Rinkeby) or scientific research blockchains (such as Bloxberg), free crypto-currency, Ether, is distributed to users via faucets. Since transaction slots on the blocks, storage and smart contract executions are consuming blockchain resources, Ethers are distributed by fixed small amounts to users. Users may have different amount of Ether requirements; some small amounts and some large amounts during different times. As a result, rather than allowing the user to get a fixed small amount of Ether, a more general distribution mechanism that allows a user to demand and claim arbitrary amounts of Ether, while satisfying fairness among users, is needed. For this end, Max-min Fairness based schemes have been used in centralized settings. Our work contributes a Max-min Fairness based algorithm and its Solidity smart contract implementation that requires low transaction costs independent of the number of users. This is important on the Ethereum blockchain, since a smart contract execution with transaction costs depending on the number of users would mean block gas limit exhaustion problem will eventually be met, making the smart contract ineffective. We report tests which confirm that the low transaction cost aims have been achieved by our algorithm.

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Blockchain-Based Peer-to-Peer Sustainable Energy Trading in Microgrid using Smart Contracts

Cited by 10 publications

References 17 publications

Emerging Information Technologies for the Energy Management of Onboard Microgrids in Transportation Applications

Emerging Information Technologies for the Energy Management of Onboard Microgrids in Transportation Applications

A survey on peer-to-peer energy trading for local communities: Challenges, applications, and enabling technologies

Max-min Fairness Based Faucet Design for Blockchains

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