Crypto-trading: Blockchain-oriented energy market

Mannaro, Katiuscia; Pinna, Andrea; Marchesi, Michele

doi:10.23919/aeit.2017.8240547

Cited by 83 publications

(45 citation statements)

References 9 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…The consensus algorithm exists in various forms including the block generation authority distribution method, the block generation and verification method, etc. Various forms of agreement algorithms are currently being developed to make a blockchain with more efficient agreements, better security, and stronger decentralization [39][40][41][42][43]. This study has established an architecture that proposes a consensus algorithm, i.e., the HDPoRs, which delivers rapid performance while agreeing on the number of nodes that cannot be agreed in various consensus algorithms.…”

Section: Methodsmentioning

confidence: 99%

The Blockchain Consensus Algorithm for Viable Management of New and Renewable Energies

Kim

2019

Sustainability

View full text Add to dashboard Cite

Efficient information flow in an intelligent system is vital for effectively controlling the entire system. Currently, intelligent systems are used in many industries related to energy production, sustainable agriculture/transport, and intelligent building/cities. Information technology (IT) and information and communication technologies (ICT) play vital roles in introducing technical or technological innovation in these industries as well as establishing a collaborative network. Also, the digitization of existing systems has been quite effective at creating a sustainable global environment as it allows more efficient and well-balanced control of socio-economic factors. However, it has become clear that adopting an intelligent system to achieve innovation, sustainability, and safety may well depend on the quality of the algorithms to be used for that very system. Despite recent controversies, new and renewable energies are considered as a realistic alternative to fossil fuels, which have been integral to modern industries but are regarded as a cause of environmental or economic problems, not to mention their limited deposits. Therefore, since renewable energies will gradually replace existing energy sources but require more time to be fully available, it is essential to find a method of managing them in a fair and transparent way. The United States, Japan, and some European countries are attempting to achieve such a goal by utilizing a blockchain system, but the issues pertaining to its functionality, security, or efficiency have yet to be addressed. This study introduces a viable consensus algorithm (Hyper Delegation Proof of Randomness, or HDPoR algorithm) for blockchain and attempts to validate its parallel computing capability through simulations. This study also attempts to design an efficient but secure peer-to-peer (P2P) transaction service model for these energies for the future where blockchain-based systems will hold a key position in the digitalized world. As its main contribution, this study introduces an effective method of applying blockchain to a new and renewable energy transaction system by presenting a consensus algorithm that can improve its infrastructure and performance.

show abstract

Section: Methodsmentioning

confidence: 99%

The Blockchain Consensus Algorithm for Viable Management of New and Renewable Energies

Kim

2019

Sustainability

View full text Add to dashboard Cite

show abstract

“…It also adopts adaptive aggressiveness for agents, enabling them to adjust quote automatically through learning mechanism according to market price and price fluctuations. In addition, [191] implements a blockchain-based platform extending the features of cryptocurrency exchanges to provide a robo-advisor like system to recommend the best selling strategy for prosumers in the renewable energy market.…”

Section: ) Peer-to-peer Energy Tradingmentioning

confidence: 99%

Blockchain for Cities—A Systematic Literature Review

2018

View full text Add to dashboard Cite

Blockchain is considered one of the most disruptive technologies of our time. Numerous cities around the world are launching blockchain initiatives as part of the overall efforts toward shaping the urban future. However, the infancy stage of the blockchain industry leads to a severe gap between the knowledge we have and the actions urban policy makers are taking. This paper is an effort to narrow this rift. We provide a systematic literature review on concrete blockchain use cases proposed by the research community. At the macro-level, we discuss and organize use cases from 159 selected papers into nine sectors recognized as crucial for sustainable and smart urban future. At the micro-level, we identify a component-based framework and analyze the design and prototypes of blockchain systems studied in a subset of 71 papers. The high-level use case review allows us to illustrate the relationship between them and the four pillars of urban sustainability: social, economic, environmental, and governmental. The system level analysis helps us highlight interesting inconsistencies between well-known blockchain applicability decision rules and the approaches taken by the literature. We also offer two classification methodologies for blockchain use cases and elaborate on how they can be applied to stimulate cross-sector insights in the blockchain knowledge domain.INDEX TERMS Bitcoin, blockchain, computer networks, consensus, crypto token, distributed computing, Ethereum, Hyperledger Fabric, systematic literature review, smart city, smart contract, system analysis and design, peer-to-peer computing, urban sustainability, use case.

show abstract

“…It has been used in wide variety of application ranging from crypto-currency to energy trading in smart cities. Mannaro et al [26] have started a crypto-trading project to explore the integration of smart contracts in blockchain and the energy trading in the Sardinia Region for smart grid management while preserving the user privacy. The authors allocated different crypto-currency profiles to different users to suggest best selling strategy and manage the sale and purchase of energy in a decentralized energy market.…”

Section: Blockchain In Energy Tradingmentioning

confidence: 99%

SURVIVOR: A blockchain based edge-as-a-service framework for secure energy trading in SDN-enabled vehicle-to-grid environment

2019

View full text Add to dashboard Cite

Electric vehicles (EVs) have transformed the smart transportation sector by providing diverse energy management solutions to the smart grid. Energy trading among EVs and charging stations (CS) in a vehicle-to-grid (V2G) environment is one of the popular verticals in smart grid. However, processing the energy trading decisions at remote control centers lead to an increase in delay and network overhead. Apart from these issues, the security concerns while trading the energy in such an environment remain persistent. Therefore, to handle the aforementioned issues, this paper presents SURVIVOR: A Blockchain based Edge-as-a-Service Framework for Secure Energy Trading in software defined networking (SDN)-enabled V2G Environment. In the proposed framework, the energy trading decisions are processed closer to the location of EVs through edge nodes. Moreover, for securing the energy trading transactions, blockchain is used wherein the approver nodes are selected amongst all the present nodes on the basis of a utility function and are made responsible for validating the transactions. Once such nodes are selected, a consensus-based blockchain mechanism for secure energy trading in SDN-enabled V2G environment is presented. In this mechanism, edge nodes are responsible for generating proof-of-work puzzles. The proof-of-work is * Corresponding Author a unique hash value which is computed for each EV and the transactions for which the approver nodes compute the same proof-of-work for each EV are added in the blockchain. The complete scheme is backed by the SDN architecture to reduce the overall latency and increase the throughput of the smart transportation network. The results obtained prove that the proposed scheme is effective for trading the energy between EVs and CS while securing the underlying trading transactions using blockchain. Moreover, the communication and computation cost of the proposed scheme comes out to be small which proves that it can be used in real-world applications. The latency in the complete transportation sector is also greatly reduced by using the SDN-architecture.

show abstract

Crypto-trading: Blockchain-oriented energy market

Cited by 83 publications

References 9 publications

The Blockchain Consensus Algorithm for Viable Management of New and Renewable Energies

The Blockchain Consensus Algorithm for Viable Management of New and Renewable Energies

Blockchain for Cities—A Systematic Literature Review

SURVIVOR: A blockchain based edge-as-a-service framework for secure energy trading in SDN-enabled vehicle-to-grid environment

Contact Info

Product

Resources

About