A Hybrid Blockchain Solution for Electric Vehicle Energy Trading: Balancing Proof of Work and Proof of Stake

Abstract

This research presents an innovative blockchain-based solution for the charging and energy trading of electric vehicles (EVs). By combining the strengths of two prominent consensus mechanisms, Proof of Work (PoW) and Proof of Stake (PoS), the proposed system balances security, decentralization, and energy efficiency. PoW secures the blockchain, while PoS enhances energy efficiency and scalability, key factors in meeting the growing demand for EV infrastructure. The system’s decentralized nature allows for EV owners, charging stations, and stakeholders to interact and transact transparently, without relying on centralized entities. The research conducts a comprehensive simulation to assess the performance of the proposed hybrid blockchain model, demonstrating significant improvements in cost-effectiveness, scalability, and energy management. Additionally, dynamic pricing mechanisms within the blockchain enable real-time energy trading, optimizing charging times and balancing grid demand efficiently. Through the use of smart contracts, automated pricing adjustments, and incentive-driven user behaviors, the proposed system paves the way for more sustainable, cost-effective, and efficient energy solutions in the future.