TY - GEN
T1 - A multilayered semi-permissioned blockchain based platform for peer to peer energy trading
AU - Zaman, Ishtiaque
AU - He, Miao
N1 - Funding Information:
With the support from the researchers, the power industry is also adopting blockchain to facilitate energy trading among their consumers through pilot projects. LO3 Energy [13] developed Brooklyn Microgrid to provide an energy marketplace for locally-generated solar energy. Power Ledger [14] is another company enabling P2P electricity trading among households with solar energy production capabilities.
Publisher Copyright:
© 2021 IEEE.
PY - 2021/4
Y1 - 2021/4
N2 - The recent spike in microgeneration of renewable energy is demanding a smart, reliable, secured and efficient technology to enable Peer to Peer (P2P) energy trading. Due to the inherent characteristics, blockchain has been a preferred technology for realizing P2P energy trading. However, blockchain implementations for P2P energy trading so far are suffering from critical challenges such as security, privacy and scalability. In this paper, we introduce a P2P energy trading platform that leverages the popular blockchain technology and addresses these concerns. In particular, a multilayered semi-permissioned blockchain based platform along with a Quality of Transaction (QoT) module is proposed as a trading platform that can be used for transaction of energy. A two stage blockchain architecture, backed by QoT, ensures proper verification and validation of the participants and transactions. We present two use cases that demonstrate two different attack scenarios to highlight the resiliency of the proposed framework. Finally, a qualitative analysis shows the effectiveness of the system with respect to security, privacy and scalability.
AB - The recent spike in microgeneration of renewable energy is demanding a smart, reliable, secured and efficient technology to enable Peer to Peer (P2P) energy trading. Due to the inherent characteristics, blockchain has been a preferred technology for realizing P2P energy trading. However, blockchain implementations for P2P energy trading so far are suffering from critical challenges such as security, privacy and scalability. In this paper, we introduce a P2P energy trading platform that leverages the popular blockchain technology and addresses these concerns. In particular, a multilayered semi-permissioned blockchain based platform along with a Quality of Transaction (QoT) module is proposed as a trading platform that can be used for transaction of energy. A two stage blockchain architecture, backed by QoT, ensures proper verification and validation of the participants and transactions. We present two use cases that demonstrate two different attack scenarios to highlight the resiliency of the proposed framework. Finally, a qualitative analysis shows the effectiveness of the system with respect to security, privacy and scalability.
KW - Consensus
KW - Distributed Energy Resources
KW - Peer-to-Peer Energy Trading
KW - Permissioned Blockchain
UR - http://www.scopus.com/inward/record.url?scp=85113165985&partnerID=8YFLogxK
U2 - 10.1109/GreenTech48523.2021.00052
DO - 10.1109/GreenTech48523.2021.00052
M3 - Conference contribution
AN - SCOPUS:85113165985
T3 - IEEE Green Technologies Conference
SP - 279
EP - 285
BT - Proceedings - 2021 13th Annual IEEE Green Technologies Conference, GREENTECH 2021
PB - IEEE Computer Society
Y2 - 7 April 2021 through 9 April 2021
ER -