Investigating and implementing a token-based peer-to-peer energy trading model on the local Ethereum blockchain platform

Abstract

Today, blockchain technology has found a special role in the energy industry and has various applications. In this paper a token-based peer-to-peer energy trading model is presented. Since the peer-to-peer trading of energy leads to the growth of micro-grids and smart grids, which in turn play a vital role in the development of renewable energies, using blockchain is the best and safest way to develop peer-to-peer networks. The definition of a special token can lead to balance and relative independence of the price of energy supply, which means that the price of network energy is related to the price of the token, and if the token is accepted, the growth of the network is inevitable. This can be one of the best ways for the growth of renewable energies, considering the renewable energy sources in the network. After reviewing the model, a sample smart contract corresponding to this model has been implemented on the Ethereum local blockchain platform.