Blockchain Based Energy Trading

Abstract

In 21stcentury one of the revolutionary technologies is Blockchain. It can bring regularity ideas to public and private sectors which improve the present management failures. To permit peer-to-peer transactions, Blockchiain maintains continuously growing list of records as a distributive database. In future, the existing conventional energy sources cannot meet the electricity demand. The renewable electricity generation is growing to balance supply and demand and accounts to share in the overall power supply. In the concept of smart cities development, The energy distribution without any intermediaries has a major concern. This emerging blockchain technology provides distributive and decentralized solutions for energy transactions. In this paper, a permissioned blockchain that uses hyperledger fabric to provide a peer-to-peer energy transacting network in order to accommodate the growing volume of renewable energy supply.