A Secure Distributed Ledger for Transactive Energy: The Electron Volt\n Exchange (EVE) Blockchain

Abstract

The adoption of blockchain for Transactive Energy has gained significant\nmomentum as it allows mutually non-trusting agents to trade energy services in\na trustless energy market. Research to date has assumed that the built-in\nByzantine Fault Tolerance in recording transactions in a ledger is sufficient\nto ensure integrity. Such work must be extended to address security gaps\nincluding random bilateral transactions that do not guarantee reliable and\nefficient market operation, and market participants having incentives to cheat\nwhen reporting actual production/consumption figures. Work herein introduces\nthe Electron Volt Exchange framework with the following characteristics: 1) a\ndistributed protocol for pricing and scheduling prosumers'\nproduction/consumption while keeping constraints and bids private, and 2) a\ndistributed algorithm to prevent theft that verifies prosumers' compliance to\nscheduled transactions using information from grid sensors (such as smart\nmeters) and mitigates the impact of false data injection attacks. Flexibility\nand robustness of the approach are demonstrated through simulation and\nimplementation using Hyperledger Fabric.\n