Secure, Decentralized Energy Resource Management Using the Ethereum Blockchain

Abstract

While blockchain services hold great promise to improve many different industries, there are significant cybersecurity concerns which must be addressed. In this paper, we investigate security considerations for an Ethereum blockchain hosting a distributed energy management application. We have simulated a microgrid with ten buildings in the northeast U.S., and results of the transaction distribution and electricity utilization are presented. We also present the effects on energy distribution when one or two smart meters have their identities corrupted. We then propose a new approach to digital identity management that would require smart meters to authenticate with the blockchain ledger and mitigate identity-spoofing attacks. Applications of this approach to defense against port scans and DDoS, attacks are also discussed.