Distributed Energy Transaction Research Articles

Toward a Blockchain-Based, Reputation-Aware Secure Transactive Energy Market

The rapid expansion of transactive energy has transformed traditional electricity consumers into producers, engaging in local energy trading. In the context of distributed energy transactions, blockchain technology has been increasingly applied to facilitate transaction transparency and reliability. However, due to the challenges in collecting accurate energy transmission data from power lines, most existing studies on the blockchain-based transactive energy market are still vulnerable to security attacks, such as malicious users misreporting energy prices, refusing to pay or refusing to transmit energy. Therefore, based on the co-simulation platform PEMT-CoSim and a blockchain, we establish a blockchain-based, reputation-aware secure transactive energy market (STEM) by introducing a reputation scheme to evaluate the trustworthiness of all prosumers and designing reputation-aware, multi-round double auction and energy transmission algorithms to detect and penalize malicious attacks. Furthermore, we run comprehensive experiments for different use cases. The results show that even with malicious participants, the proposed system can guarantee the interests of the honest participants and improve the robustness and effectiveness of the energy market.

Applications of blockchain technologies in artificial electricity market settlement and clearing

Abstract Blockchain technology is demonstrating vast potential in the realm of distributed energy transactions. This article employs the Ethereum platform to architect an energy trading settlement framework. By incorporating whitelists, authorization mechanisms, and dedicated energy tokens, transactions are rendered more secure and reliable, ensuring the openness, transparency, traceability, and immutability of transaction information. The proposed transaction settlement mechanism automatically updates users' energy imbalances and levies corresponding charges, thereby ensuring strict adherence to transaction contracts. Furthermore, during the settlement phase, smart contracts are employed to autonomously evaluate the creditworthiness of transaction parties, with results recorded on the blockchain. As the credit levels of the entities across the entire network increase, the block generation time for distributed energy trading blockchains becomes shorter, with the block generation time predominantly influenced by the credit rating of the highest-rated entity in the network. Hence, through smart contract design based on energy trading, blockchain technology is utilized to enhance the transparency and security of transaction settlement and clearing. Future research could focus on improving blockchain scalability, integrating emerging technologies, to advance the effectiveness and adoption of blockchain-based energy trading systems.

Distributed trading scheme for vehicular grid interaction supporting transaction anonymity and credit management

To address the significant challenge of supply-demand balance in the power system and better coordinate the energy and information interaction between electric vehicles and smart grids, vehicular grid interaction has been extensively studied. Blockchain technology has the characteristics of decentralization, openness, and non-tamperability, which is naturally suitable for distributed transactions with virtual power plants. However, the current distributed energy transactions of virtual power plants face challenges in credit management and privacy protection, which are not conducive to the stability of the trading market. To address the above issues, this paper proposes a blockchain-based distributed energy trading scheme for virtual power plants, which realizes distributed trading while protecting the user’s identity information and providing credit management for the user’s performance behaviour. Finally, the performance evaluation and security analysis of the scheme based on security and privacy requirements show that the scheme is both secure and practical.

Peer-to-peer energy trading based on a hybrid blockchain system

The emergence of distributed energy and prosumers has greatly promoted the reform of the energy market. Blockchain technology provides a very potent solution for distributed energy transactions, however, blockchain technology still develops slowly in the energy field due to the unstable performance of the imperfect system. This paper aims to narrow this gap by the following steps. First, a function-driven integration method is proposed to combine the merit of blockchain distributed ledger and traditional centralized databases. Then a hybrid energy blockchain system architecture is designed, including the blockchain layer, smart contract layer, database layer, and client layer. Further, a peer-to-peer market mechanism considering energy storage arbitrage and fully automated matchmaking is developed on the hybrid blockchain system. The case study proves the effectiveness and safety of the system. The proposed architecture of combined blockchain and database technologies effectively paves the way for constructing a more reasonable and feasible distributed energy trading platform.

APPLICATION OF BLOCKCHAIN IN ENERGY

Blockchain or distributed ledger technology has attracted great interest from companies in the energy industry. The combination of blockchain and energy is undoubtedly one of the most striking technological innovations in recent years. A typical application area of blockchain in the energy industry is trading and credit. Stakeholders use blockchain technology to promote distributed or wholesale energy transactions and create virtual grids. Consumers can trade between their own devices and resources, with their neighbors and with the grid. The whole process can be automated through smart contracts. In this article, we will discuss some use cases related to the application of blockchain in the energy field.

Peer-to-peer energy trading and smart contracting platform of community-based virtual power plant

Traditional centralized transactions require a control center for user demand matching, settlement and other processes. However, with the increase in the penetration rate of distributed energy in the community, the explosive increase in the number of transactions leads to a decrease in efficiency and it is difficult to guarantee user privacy and information security. The smart contract technology based on blockchain technology has the characteristics of decentralization, traceability and tamper resistance, and these key factors show unique advantages in distributed energy transactions. This paper explores Ethereum and smart contract technology, designs a peer-to-peer energy sharing mechanism with reward and punishment incentives and establishes a smart contract trading platform for smart community-based virtual power plant (CVPP). This paper verifies the functionality and effectiveness of smart contract. The results show that when the supply and demand ratio changes, the user can conduct energy transactions according to the contract without a third-party organization, which solves the problem of trust between the two parties and achieves the expected effect and runs successfully. In addition, the simulation results show that the peer-to-peer transaction based on smart contracts reduces the energy cost per household and increases the total benefit of CVPP.

Cost efficient management of complex financial energy trading systems: Knowledge-based blockchain technique

Industry 4.0 has led to the growth of smart cities utilizing the Internet of Things (IoT). Wireless sensor network (WSN) has drawn considerable interest as an important element of the IoT. The Energy Internet (EI) is growing in importance as a significant component of constructing the intelligent city, especially in terms of its reliability and security. EI is moving in a new direction of energy trading advancement where distributed energy transaction models are replacing the conventional centralized layout. Blockchain technology, which is the underlying support, has gained interest as a result of its benefits, namely integrity, and nonrepudiation. Privacy disclosure, despite the benefits, is a concern for many blockchain-enabled trading layouts. The paper presents encryption according to the cryptographic text properties as the main scheme for reconstructing the dealing layout in order to resolve the issue in the electricity market. In particular, the blockchain energy trade plan with privacy (BETPWP) has been developed to manage the distributed transaction. Transaction arbitration in ciphertext form is employed for achieving precise access control. As a result of this method, the transaction layout could be made considerably more secure and reliable, as well as maximizing the security of private data. BETPWP also proposes a credibility-enabled equity proof consensus method that would significantly improve operational performance. A study of security and the test assessment of the suggested method are performed in order to demonstrate its effectiveness.

Energy trading scheme based on consortium blockchain and game theory

With the gradual opening of the electricity sales market, distributed energy trading is becoming an important research topic. However, it is not easy to design practical energy trading schemes in distributed scenario. In particular, known distributed energy trading schemes do not address the security of transaction data and the maximization of benefits among all the participants. In this paper, we propose a distributed energy trading scheme based on consortium blockchain and game theory. In our scheme, a peer-to-peer trading platform is constructed to realize direct transactions among all the participants by the property of decentralization in consortium blockchain. The direct transactions greatly reduce operating costs of energy trading, and at the same time, the security of transaction data can be obtained by the cryptographic techniques such as digital signatures and hash functions associated with the underlying blockchain. Moreover, we design an energy transaction matching mechanism by game theory in our scheme. In the matching mechanism, we construct a game model among all the participants and design an equilibrium solving algorithm, which are the key techniques to realize the maximization of benefits among all the participants in energy trading. The security analysis and experimental results show that our scheme can realize the best transaction price and quantity in the transaction matching and has high security in distributed energy transaction scenarios.

Blockchain Consensus Mechanism for Distributed Energy Transactions

In order to reduce the cost of grid dispatching and increase the transparency of energy transactions, the distributed energy transaction model based on blockchain is constructed. At the same time, in order to improve the high communication overhead and low throughput of the traditional PBFT algorithm in the consortium blockchain, an efficient Byzantine fault-tolerant consensus mechanism (DE-BFT) for the energy blockchain is designed. The algorithm improves from two aspect: node election and main chain consensus. In the stage of node election, the model uses a health score evaluation and a verifiable random function to improve the security and randomness of node selection. In the stage of main chain consensus, the efficient data consistency interaction protocol decreases the complexity of the communications between nodes, down to a constant term level from exponential one. The result shows that, compared with other consensus algorithm, the DE-BFT algorithm performs better in terms of consensus delay, communication overhead, throughput, and consensus node reliability.

Privacy-Preserving Distributed Energy Transaction in Active Distribution Networks

The increasing number of prosumers with various distributed energy resources promotes energy transactions in active distribution networks for lower cost, more flexibility, lower carbon footprints, and higher reliability. A privacy-preserving distributed energy transaction approach is proposed to minimize the overall objective of renewable energy generation curtailment penalty and operational cost while satisfying power flows and voltage magnitude constraints. The proposed approach encrypts private information by adding a noise term and a secret function to the information exchange process. The convergence, optimality, and privacy of the proposed privacy-preserving distributed approach are rigorously analyzed using a theoretical approach and verified by various case studies on IEEE distribution systems.

Distributed Energy Transaction Based on Multi-chain Collaborative Blockchain

Distributed Energy Transaction Based on Multi-chain Collaborative Blockchain

Distributed Energy Transaction Model Based on the Alliance Blockchain in Case of China

Distributed energy, mainly composed of new energy, plays an important role in promoting the development of new energy. At present, the development of distributed energy is greatly hindered by imperfect trading platform and unstable output of new energy. Blockchain is decentralized, autonomous and requires collaborative management. Its own technical characteristics have the inherent advantages of reconstructing the energy system. The alliance chain in the blockchain is more suitable for building a distributed energy trading platform. The paper constructs a distributed energy transaction model based on alliance blockchain, studies the integration mode of blockchain and distributed energy transaction, and explores the application of blockchain in distributed transaction. The paper provides a new idea for optimizing and reconstructing the traditional distributed energy trading platform, and providing decision support for promoting distributed energy trading.

Blockchain-Based Power Energy Trading Management

Distributed peer-to-peer power energy markets are emerging quickly. Due to central governance and lack of effective information aggregation mechanisms, energy trading cannot be efficiently scheduled and tracked. We devise a new distributed energy transaction system over the energy Industrial Internet of Things based on predictive analytics, blockchain, and smart contract technologies. We propose a solution for scheduling distributed energy sources based on the Minimum Cut Maximum Flow theory. Blockchain is used to record transactions and reach consensus. Payment clearing for the actual power consumption is executed via smart contracts. Experimental results on real data show that our solution is practical and achieves a lower total cost for power energy consumption.

The research of source-load transaction mechanism based on blockchain

With the development of distributed renewable energy and the energy Internet, the cost of distributed energy participating in traditional power transactions continues to rise, and there is an urgent need for more reasonable transaction mechanisms and efficient information technology to improve the efficiency of distributed energy transactions. The characteristics of blockchain technology are in line with the transaction needs of distributed renewable energy, and it has development potential in energy transactions. Based on blockchain technology, this paper designs a source-load transaction mechanism in which the virtual energy medium is the equivalent of the intermediary. This mechanism can avoid the problem of credit asymmetry between buyers and sellers. We design from three aspects: transaction, payment, and settlement, and verify the actual application. The results show the feasibility and effectiveness of the transaction, provide a new way for multi-frequency and small transaction volume of new energy transactions, and provide new solutions for the consumption of new energy such as photovoltaics and wind power.

A Distributed Energy Transaction Method Based on Blockchain

Aiming at the multi-agent, multi-mode and multi-rule characteristics of the distributed energy trading market,a distributed energy trading method based on blockchain is proposed. In view of the randomness and volatility of distributed energy, the use of the decentralized characteristics of blockchain technology meets the needs of distributed energy market transactions; in order to improve the reliability of the distributed energy transaction process, it is proposed to use smart contracts to separate the transaction and the communication process between the blockchain and the energy fund account; with the help of Ethereum’s “Raiden Network”, this “off-chain transaction” method, frequent and efficient transactions are carried out, realizing the “tripartite” of distributed energy producers, grid institutions and users “win-win” to promote the opening and healthy development of the distributed energy market.

Research on Distributed Energy Transaction Technology Based on Blockchain

The distributed power industry has the characteristics of multiple participants, long business processes, and wide distribution areas, which leads to serious data islands, difficulties in credit transmission, and outstanding transaction risks. Blockchain has technical characteristics such as openness, transparency, traceability, tamper resistance, and decentralization, making it an inevitable trend for its extensive and indepth application in the energy and power industry. The article first analyzes the generation and development of block technology, and then analyzes the current application status of block chain technology in distributed power transactions; then, based on the summary of existing research, it introduces in detail the blockchain-based technology The technical mechanism design of the distributed energy trading scheme analyzes the problems existing in the current application of blockchain in the field of distributed power trading, and proposes targeted development suggestions.

A blockchain-based secure transaction model for distributed energy in Industrial Internet of Things

In the Industrial Internet of Things (IIoT), peer-to-peer (P2P) distributed energy (DE) transactions exist in various scenarios. This paper attempts to improve the intelligence, real-timeliness, and security of the direct transaction between DE generation companies (DEGCs) and users, and reduce the default frequency of distributed power (DP) transactions. For these purposes, a P2P DE transaction model for the IIoT was proposed based on blockchain. Firstly, a blockchain-based distributed energy peer-to-peer transaction framework is constructed, which is more suitable for generalized energy transactions based on typical transaction scenarios of the IIoT. Using credit value evaluation and smart contracts to ensure the transparency, openness, and non-tampering of credit scores. On this basis, the energy currency reward mechanism is used to promote the trustworthiness of transaction nodes and maintain transaction security. Finally, the P2P direct transaction based on credit value was designed to improve the transaction efficiency and security. Through case analysis, the DE transaction model for the IIoT, which is based on the credit value of the blockchain, supports fast and frequent energy transactions, as it overcomes the confirmation delays of energy blockchain transactions. The proposed model improves the efficiency of DE transactions in the IIoT, effectively suppresses default frequency, and maintains the order of DE market in the IIoT.

Achieving efficient and Privacy-preserving energy trading based on blockchain and ABE in smart grid

With the advent of the Industry 4.0 era, the development of smart cities based on the Internet of Things (IoT) has reached a new level. As a key component of the Internet of Things (IoT), the security of wireless sensor networks (WSN) has received widespread attention. Among them, Energy Internet, as an important part to support the construction of smart cities, its security and reliability research is becoming more and more important. In the Energy Internet, distributed energy transaction model is a promising approach to replace the traditional centralized transaction model and has become the leading direction of development in energy trading. As the underlying support, blockchain technology is attracting more and more attention due to its advantages, i.e., integrity and non-repudiation. However, most blockchain-based trading models face the problem of privacy disclosure. In this paper, to solve this problem, Ciphertext-Policy Attribute-Based Encryption (CP-ABE) is introduced as the core algorithm to reconstruct the transaction model. Specifically, we build a general model for distributed transactions called PP-BCETS (Privacy-preserving Blockchain Energy Trading Scheme). It can achieve fine-grained access control through transaction arbitration in the ciphertext form. This design can maximize the protection of privacy information, and considerably improve the security and reliability of the transaction model. Additionally, a credibility-based equity proof consensus mechanism is proposed in PP-BCETS, which can greatly increase the operation efficiency. The security analysis and experimental evaluations are conducted to prove the validity and practicability of our proposed scheme.

CRSM: An Effective Blockchain Consensus Resource Slicing Model for Real-Time Distributed Energy Trading

Distributed energy trading has become an essential part of the energy trading market and provides a useful supplement to traditional centralized energy trading, but there are still problems such as opaque trading information and asymmetric user data. The blockchain technology has the advantages of traceability, trade openness, and data transparency, which is naturally suitable for distributed energy transactions. The electricity information data transmission represented by distributed energy transaction has the characteristics of real-time, which has a high-efficiency requirement on the selected blockchain technology. The consensus algorithm is the core of blockchain technology and affects the efficiency of the blockchain system. The efficiency of the existing consensus algorithms for energy transaction-oriented blockchain still needs to be improved. In this paper, a consensus resource slicing model(CRSM) is designed to meet the requirements of consensus efficiency in energy trading scenarios. Specifically, CRSM divides consensus nodes into different consensus domains for concurrent consensus, and the storage domain only stores block information without consensus. By building an experimental platform, the efficiency of CRSM was verified, the communication pressure of the blockchain system was reduced, and the consensus speed was effectively improved.

Building a Community of Users for Open Market Energy

Energy markets are based on energy transactions with a central control entity, where the players are companies. In this research work, we propose an IoT (Internet of Things) system for the accounting of energy flows, as well as a blockchain approach to overcome the need for a central control entity. This allows for the creation of local energy markets to handle distributed energy transactions without needing central control. In parallel, the system aggregates users into communities with target goals and creates new markets for players. These two approaches (blockchain and IoT) are brought together using a gamification approach, allowing for the creation and maintenance of a community for electricity market participation based on pre-defined goals. This community approach increases the number of market players and creates the possibility of traditional end users earning money through small coordinated efforts. We apply this approach to the aggregation of batteries from electrical vehicles so that they become a player in the spinning reserve market. It is also possible to apply this approach to local demand flexibility, associated with the demand response (DR) concept. DR is aggregated to allow greater flexibility in the regulation market based on an OpenADR approach that allows the turning on and off of predefined equipment to handle local microgeneration.