Implementation of Blockchain technology for Energy Trading with Smart Meters

Hussain, S. M. Suhail; Farooq, Shaik Mullapathi; Ustun, Taha Selim

doi:10.1109/i-pact44901.2019.8960243

Cited by 30 publications

(15 citation statements)

References 7 publications

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“…For SM-DSO transactions, blockchain technology can be used to maintain a distributed ledger. As a result, they were implementing blockchain technology to trade energy required to be trusted on their third party [11][12][13][14][15]. with a high level of data protection, convenience, and robustness, the SG must provide one feature: Automatic Healing Capability (AHC).…”

Section: Smart Meters For Energymentioning

confidence: 99%

Blockchain Technology on Smart Grid, Energy Trading, and Big Data: Security Issues, Challenges, and Recommendations

Hasan

Alkhalifah

Islam

et al. 2022

Wireless Communications and Mobile Computing

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The smart grid idea was implemented as a modern interpretation of the traditional power grid to find out the most efficient way to combine renewable energy and storage technologies. Throughout this way, big data and the Internet always provide a revolutionary solution for ensuring that electrical energy linked intelligent grid, also known as the energy Internet. The blockchain has some significant features, making it an applicable technology for smart grid standards to solve the security issues and trust challenges. This study will present a rigorous review of blockchain implementations with the cyber security perception and energy data protections in smart grids. As a result, we describe the major security issues of smart grid scenarios that big data and blockchain can solve. Then, we identify a variety of recent blockchain-based research works published in various literature and discuss security concerns on smart grid systems. We also discuss numerous similar practical designs, experiments, and items that have recently been developed. Finally, we go through some of the most important research problems and possible directions for using blockchain to address smart grid security concerns.

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Section: Smart Meters For Energymentioning

confidence: 99%

Blockchain Technology on Smart Grid, Energy Trading, and Big Data: Security Issues, Challenges, and Recommendations

Hasan

Alkhalifah

Islam

et al. 2022

Wireless Communications and Mobile Computing

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“…The conventional energy trading architecture in the smart grid leads to high operating costs, high maintenance cost with low performance and productivity [18]. In an another way, a P2P energy trading architecture having blockchain offers a distributed platform that provides secure energy exchanges [111], [112]. In the traditional energy sector, due to high amounts of carbon emissions produced by the high carbon intensity of combustion of fossil fuels, which leads to air pollution and irreversible effects of climate change.…”

Section: Blockchain-based Energy Tradingmentioning

confidence: 99%

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

et al. 2021

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The smart grid is generally studied as an efficient and powerful electric grid. With the assistance of information and communication technology (ICT), the electric grid can increase the performance of the power grid system with smart energy management. On the other hand, with the usage of renewable energy resources (RERs), smart energy storage, and new transmission technologies in the power grid system, various new features such as real-time monitoring, fast restoration, battery displays, automated outage management, etc. have been assimilated into the smart grid. These new features generate more complexity in energy transmission and constitute important challenges like low energy consumption, high energy cost, social welfare, etc. while designing energy trading mechanisms in the smart grid. In the Internet-of-Things (IoT) era, several scenarios such as micro-grids, energy harvesting networks, and vehicle-to-grid (V2G) networks are present where energy trading plays an important role. However, in these scenarios, there are energy transmission and distribution, security and privacy, energy consumption, system reliability, the criticality of data delivery, and a few more challenges caused by distrust, non-transparent, and uncertain energy markets. Motivated from these challenges, we present a four-layered architecture of energy trading used in the smart grid. We propose a comprehensive background regarding the main concepts of energy trading and the implication of enabling technologies that manage the energy imbalances in the smart grid. Then, we present a problem taxonomy based on incentive, mathematical, and simulation modeldriven approaches, which are widely used to control and maintain the energy trading mechanisms. Based on the findings from the literature, we also present a solution taxonomy with enabling technologies such as Energy Internet, Software-defined networking (SDN), and blockchain. In the end, a summary of future research directions based on the energy trading mechanisms is explored to provide deep insights to the readers.

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“…The application of blockchain in the energy sector is still in its infancy and has a short history of development [5]. However, there is a growing interest with some research reports, application scenarios, and project initiatives in recent years [1,4,11,12,[20][21][22][23][24][25][26][27][28]. Some blockchain-based frameworks have also been proposed with a particular focus on energy trading for microgrids [13] and a distributed energy market for pricing [29].…”

Section: Blockchian-based Smart Gridmentioning

confidence: 99%

“…Some blockchain-based frameworks have also been proposed with a particular focus on energy trading for microgrids [13] and a distributed energy market for pricing [29]. Ethereum-based energy trading using information transactions between smart meters in households and distribution system operators (DSOs) has also been proposed [23]. In addition, wireless sensor networks (WSNs) and the Internet of Things (IoT) provide alternative solutions to privacy and security problems through efficient data aggregation and the optimization of energy generation and consumption using smart systems that can monitor and interact with each other [20].…”

Section: Blockchian-based Smart Gridmentioning

confidence: 99%

Survey on Blockchain for Smart Grid Management, Control, and Operation

Aklilu

Ding

2021

Energies

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Power generation, distribution, transmission, and consumption face ongoing challenges such as smart grid management, control, and operation, resulting from high energy demand, the diversity of energy sources, and environmental or regulatory issues. This paper provides a comprehensive overview of blockchain-based solutions for smart grid management, control, and operations. We systematically summarize existing work on the use and implementation of blockchain technology in various smart grid domains. The paper compares related reviews and highlights the challenges in the management, control, and operation for a blockchain-based smart grid as well as future research directions in the five categories: collaboration among stakeholders; data analysis and data management; control of grid imbalances; decentralization of grid management and operations; and security and privacy. All these aspects have not been covered in previous reviews.

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Implementation of Blockchain technology for Energy Trading with Smart Meters

Cited by 30 publications

References 7 publications

Blockchain Technology on Smart Grid, Energy Trading, and Big Data: Security Issues, Challenges, and Recommendations

Blockchain Technology on Smart Grid, Energy Trading, and Big Data: Security Issues, Challenges, and Recommendations

A Survey on Energy Trading in the Smart Grid: Taxonomy, Research Challenges and Solutions

Survey on Blockchain for Smart Grid Management, Control, and Operation

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