A Review Paper On Smart Meter Using Blockchain And Internet Of Things

Abstract

In response to the global energy crisis affecting various sectors worldwide, the integration of automation into the electricity sector has become imperative. The urgency to conserve energy, particularly in light of the Russian-Ukrainian war, poses a significant challenge for third-world countries and Europe alike. To address this, a system needs to be established to mitigate energy losses and enable users to trade excess electricity. The Internet of Things (IoT) proves instrumental in energy conservation within the power sector. By combining blockchain technology and smart grid capabilities, there is potential to further minimize energy wastage and enhance consumption efficiency. This study examines a smart energy meter model based on smart grids and blockchain, featuring microgrids, each equipped with its own blockchain. Users engage in energy transactions through digital contracts, emphasizing peer-to-peer interactions within blockchain-controlled microgrids. The approach involves architectural design implementation on smart meters, utilization of smart contracts on the Ethereum blockchain, and the development of an Android application to monitor and facilitate energy transactions.