PriVET: Privacy-Preserving and Verifiable Vehicular Energy Trading via Smart Contracts

Abstract

The rapid adoption of electric vehicles (EVs) has created new opportunities for decentralized energy trading, where EVs can act as mobile energy providers in peer-to-peer markets. Blockchain provides a secure foundation for such systems, ensuring trust and accountability. However, its inherent transparency creates privacy risks, as it enables the tracking of trading activities. Existing privacy-preserving mechanisms typically focus on concealing payment transactions but often expose other critical interactions, such as matching coordination. To address these challenges, we proposePriVET, a privacy-preserving framework for vehicular energy trading. PriVET leverages smart contracts for trade matching and uses an enhanced Paillier encryption scheme to support encrypted comparisons, ensuring secure coordination without revealing sensitive data. Additionally, a Bloom-filter– based Geohash encoding is used to protect location privacy during spatial matching. We evaluate PriVET through both theoretical analysis and practical experiments. In a simulation environment, the transaction computation time for 100 vehicles is shown to be under 30ms, with communication overhead kept below 20KB. These results demonstrate that PriVET provides robust privacy protection while maintaining minimal overhead, making it a practical solution for real-world blockchain-based energy trading scenarios.