Abstract
In the power sector, microgrids play a supportive role in bridging the adequacy gap in the conventional electricity supply. Trading of the generated energy has recently been improved by blockchain technology which offers a new cheap, secure, and decentralized transaction approach. Its operation is however associated with an undesired inherent delay during energy transactions initiated by the prosumers, thus, failure to timely attend to incidences of urgent demand could end up in catastrophe at the consumer's side. This article thus proposes a cyber-enhanced transactive microgrid model using blockchain technology with optimized participants' permission protocol to ameliorate this challenge. It is demonstrated that the optimized blockchain participants' permission model leads to improved transaction speed and greater convenience. The transaction speed simulation is thereafter performed and it was also demonstrated that the node population has a greater effect than the transaction block size on the transaction speed improvement.
Highlights
A major failure in the system could be catastrophic to the consumers if an alternative energy source is unobtainable
Several localities have excess generations, while others have insufficient generations leading to generation-load imbalance, as well as demand-supply imbalance [4]. Some enterprises, such as NEC Corporation, currently encourage building energy management systems that would enhance the dissemination of distributed generations to optimize the demand and supply interaction in the microgrid arena [5]
Following the 57.7% transaction time reduction in model 1 relative to model 2, it is conclusive that transactions are faster in blockchain consortium with optimized transaction permission protocol
Summary
MARTIN ONYEKA OKOYE 1, JUNYOU YANG 1, (Member, IEEE), JIA CUI1, ZHENJIANG LEI2, JINGWEI YUAN2, HAIXIN WANG 1, (Member, IEEE), HUICHAO JI1, JIAWEI FENG 1, AND CHINENYE EZEH 3.
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
