Design and implementation of blockchain based peer to peer energy trading platform

Abstract

Blockchain is an emerging technology which is known for its popularity and reliability. First introduced in 2008, it has now expanded to many areas such as IoT, cryptocurrency and Smart contracts. A blockchain consists of blocks assembled in the form of a chain. Data from each participant in the network is stored in these blocks. It is done in a block format called a series of transactions. The Internet of Things (IoT) has transformed many traditional lifestyles. The IoT has enabled cities, housing, pollution control, energy saving and intelligent transportation systems. Blockchain technology and the Internet of Things can increase the efficiency of peer-to-peer energy trading platforms. The open-source peer to peer (P2P) energy trading system is designed on the blockchain. Peer to peer (P2P) is a decentralized communication model in which each party has the same functionality and each party can initiate a communication session. The system collects real time data, monitors and controls it using MQTT Protocol. The trading activities takes place on a web interface which uses a public test Ethereum blockchain, they are tamper-proof. IoT is used to monitor and control the energy. The energy data is acquired and processed using Wi-Fi Based microcontrollers.