Conceptual framework for blockchain-based metering systems

Abstract

The smart grid environment requires the enhancement of various computational tools, especially for routine tasks of data acquisition and system monitoring. This paper presents the building blocks of a conceptual framework to be used as the basis for the construction of novel distributed remote mete ring systems with utilization of the cutting edge Blockchain technology. The proposed methodology is suitable for processing a large volume of data aimed at monitoring modern electric power distribution grids. As a proof of concept, a collaborative metering system is conceived based on the Blockchain technology, being primarily capable of: dealing with the entirety of the collected data (conveniently stored and filtered); assuring data integrity by means of cryptography; optimizing implementation/operation costs of the telecommunication services involved. Simulation results concerning the reliability and performance of the designed distributed remote metering system are presented.