Proof of X: Experimental Insights on Blockchain Consensus Algorithms in Energy Markets

Machacek, Travis; Biswal, Milan; Misra, Satyajayant

doi:10.1109/isgt49243.2021.9372194

Cited by 7 publications

(3 citation statements)

References 7 publications

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“…Cryptographic hash functions are prevalent [38]. They store passwords during authentication, protect data in file verification systems, detect malicious software, and encode information in the blockchain (the block is the central primitive processed by Bitcoin and Ethereum).…”

Section: A Hashing Is the Basis Of Blockchain Functioningmentioning

confidence: 99%

Ensuring Information Security of Web Resources Based on Blockchain Technologies

Aliya,

Olga,

Yenlik

et al. 2023

IJACSA

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This project examines how blockchain technology can enhance data security and reliability for web applications. In this article, ways to improve data security on online course platforms that utilize blockchain technology are explored. To clarify, online course platforms are web-based applications that enable users to access course materials online. These platforms often deal with sensitive data which, if compromised, can cause significant harm to users. Unfortunately, this information is often the target of fraudulent operations and illegal actions aimed at stealing personal data that can be used for authentication on various platforms. This article identifies the weaknesses of these sites and discusses the importance of using complex technologies to safeguard web resources effectively. This research explores how blockchain technology can protect from common web application attacks, which are often aimed at the user authorization process involving the transmission of identification and authentication data from the user to the website database. The study outlines the key components of blockchain technology, including hash function, hash value, data structure, and blockchain classification. Additionally, the study presents a transaction block model for a web course developed using blockchain technology.

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Section: A Hashing Is the Basis Of Blockchain Functioningmentioning

confidence: 99%

Ensuring Information Security of Web Resources Based on Blockchain Technologies

Aliya,

Olga,

Yenlik

et al. 2023

IJACSA

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“…As this paper focusses on the implementation of a LEM application, we used a private blockchain with a Proof-of-Authority (PoA) consensus mechanism. This setup allows us to have an insignificant energy demand, to minimise external influences, and to modify the blockchain's parameters according to our will (see [24]). We set up two Linux machines as block validators, signing blocks every 5 s. To allow LEM executions with more than a hundred market positions, we set the block gas limit to 1.5 billion gas.…”

Section: Ethereum Blockchainmentioning

confidence: 99%

“…Most papers investigating auction-based LEMs in a blockchain network demonstrated their feasibility on different kinds of blockchains such as Tendermint [18], Ethereum [19,20], Hyperledger [21], proprietary blockchains [22], or compared different consensus mechanisms [23,24]. Other papers described off-chain market-clearing algorithms, using the blockchain only to represent monetary values or to store market results [25][26][27][28].…”

Section: Introductionmentioning

confidence: 99%

Evaluating the added value of blockchains to local energy markets—Comparing the performance of blockchain‐based and centralised implementations

et al. 2022

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The continuous decentralisation of the energy system due to the expansion of renewable energies requires new coordination mechanisms such as Local Energy Markets (LEMs) that are capable of integrating millions of prosumers as active participants. Since the end of the 2010s, the blockchain technology has been discussed as a potential infrastructure for LEMs and as a potential game-changer in the energy industry. In this work, the authors introduce LEM specific technology-independent infrastructure requirements, present a Solidity and Python toolbox that allows to compute a comparative performance analysis between a blockchain-based and a central LEM and evaluate the added value of a blockchain-based implementation compared to a conventional reference implementation. Simulations of a LEM with a periodic double auction and settlement showed that a blockchain-based LEM operation requires more than 140 times the computation time compared to a centralised implementation and cannot fulfil data security requirements. Thus, the authors find that blockchain technology in its current state of development does not add significant value to LEMs. All implemented programmes are published in the open-source project lemlab as part of the research project RegHEE.

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An Exploratory Study on Trust in Blockchain-Enabled Energy Trading

Testi

2024

Communications in Computer and Information Science

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Proof of X: Experimental Insights on Blockchain Consensus Algorithms in Energy Markets

Cited by 7 publications

References 7 publications

Ensuring Information Security of Web Resources Based on Blockchain Technologies

Ensuring Information Security of Web Resources Based on Blockchain Technologies

Evaluating the added value of blockchains to local energy markets—Comparing the performance of blockchain‐based and centralised implementations

An Exploratory Study on Trust in Blockchain-Enabled Energy Trading

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