Blockchain Papers

Azhar Mahmood, Abid Khan, Adeel Anjum, Carsten Maple · 5 authors

No abstract is available for this record.

Raymond Borges Hink, Aaron Werth, Gary Hahn, Emilio C. Piesciorovsky · 5 authors

Grid modernization has impeded innovative power grid applications and energy resources that are increasingly distributed. Blockchain/distributed ledger technology (DLT) has the potential to enhance the resilience of the electric infrastructure, particularly in a decentralized and distributed environment. The benefits of blockchain are to ensure asset information and lifecycle events are secure and traceable and identify potential malicious modification of data. Oak Ridge National Laboratory (ORNL) has developed a framework, Cyber Grid Guard (CGG), incorporating blockchain. The system implements a low-energy, fast, and robust enhancement to system trustworthiness within and across electric grid systems, including substations, control centers, and metering infrastructures. Currently, one of the major concerns is supply chain attacks. There have been several recent attacks that have significantly impacted critical infrastructures and organizations around the world. This document focuses on how CGG can be used to address the supply chain issue.

Prabhat Kumar, Randhir Kumar, Ahamed Aljuhani, Danish Javeed · 6 authors

Internet of Things (IoT)-enabled Smart Grid (SG) network is envisioned as the next-generation network for intelligent and efficient electric power transmission. In SG environment, the Smart Meters (SMs) mostly exchange services and data from Service Providers (SPs) via insecure public channel. This makes the entire SG ecosystem vulnerable to various security threats. Motivated from the aforementioned challenges, we incorporate Digital Twin (DT) technology, Software-Defined Networking (SDN), Deep Learning (DL) and blockchain into the design of a novel SG network. Specifically, a secure communication channel is first designed using an authentication method based on blockchain technology that has the ability to withstand a number of well-known assaults. Second, a new DL architecture that includes a self-attention mechanism, a Bidirectional-Gated Recurrent Unit (Bi-GRU) model, fully connected layers, and a softmax classifier is designed to enhance the attack detection process in SG environments. To deliver low latency and real-time services, the SDN is next employed as the network’s backbone to send requests from SMs to a global SDN controller. DT technology is finally integrated into the SDN control plane, which stores the operating states and behavior models of SMs and communicates with SMs. The efficiency of the proposed framework is demonstrated by the blockchain implementation used in the SG network to assess computing time for the various numbers of transactions per block. Finally, the numerical results based on the N-BaIoT dataset shows better intrusion detection.

Wenbing Zhao, Quan Qi, Jiong Zhou, Xiong Luo

This article presents an umbrella review of blockchain-based smart grid applications. By umbrella review, we mean that our review is based on systematic reviews of this topic. We aim to synthesize the findings from these systematic reviews and gain deeper insights into this discipline. After studying the systematic reviews, we find it imperative to provide a concise and authoritative description of blockchain technology because many technical inaccuracies permeate many of these papers. This umbrella review is guided by five research questions. The first research question concerns the types of blockchain-based smart grid applications. Existing systematic reviews rarely used a systematic method to classify these applications. To address this issue, we propose a taxonomy of these applications, first by differentiating them based on whether the application is focusing on functional or non-functional aspects of smart grid operations, and then by the specific functions or perspectives that the application aims to implement or enhance. The second research question concerns the roles that blockchain technology plays in smart grid applications. We synthesize the findings by identifying the most prominent benefits that blockchain technology could bring to these applications. We also take the opportunity to point out several common technical mistakes that pervade the blockchain literature, such as equating all forms of blockchains to data immutability. The third research question concerns the guidelines for deciding whether a blockchain-based solution would be useful to address the needs of smart grids. We synthesize the findings by proposing benefit-based guidelines. The fourth research question concerns the maturity levels of blockchain-based smart grid applications. We differentiate between academic-led and industry-led projects. We propose a five-level scale to evaluate the maturity levels. The ranking of the industry-led projects is performed through our own investigation. Our investigation shows that more than half of the industry-led projects mentioned in the systematic reviews are no longer active. Furthermore, although there are numerous news reports and a large number of academic papers published on blockchain-based smart grid applications, very few have been successfully embraced by the industry. The fifth research question concerns the open research issues in the development of blockchain-based smart grid applications. We synthesize the findings and provide our own analysis.

Mark C. Ballandies, Hongyang Wang, Andrew Chung Chee Law, Joshua C. Yang · 6 authors

As digitalization and technological advancements continue to shape the infrastructure landscape, the emergence of blockchain-based decentralized physical infrastructure networks (DePINs) has gained prominence. However, a systematic categorization of DePIN components and their interrelationships is still missing. To address this gap, we conduct a literature review and analysis of existing frameworks and derived a taxonomy of DePIN systems from a conceptual architecture. Our taxonomy encompasses three key dimensions: distributed ledger technology, cryptoeconomic design and physicial infrastructure network. Within each dimension, we identify and define relevant components and attributes, establishing a clear hierarchical structure. Moreover, we illustrate the relationships and dependencies among the identified components, highlighting the interplay between governance models, hardware architectures, networking protocols, token mechanisms, and distributed ledger technologies. This taxonomy provides a foundation for understanding and classifying diverse DePIN networks, serving as a basis for future research and facilitating knowledge exchange, fostering collaboration and standardization within the emerging field of decentralized physical infrastructure networks.

Mousa Mohammed Khubrani, Shadab Alam

Energy demand is increasing rapidly due to rapid growth and industrialization. It is becoming more and more complex to manage generation and distribution due to the diversification of energy sources to minimize carbon emissions. Smart grids manage reliable power generation and distribution efficiently and cater to a large geographical area and population, but their centralized structure makes them vulnerable. Cybersecurity threats have become a significant concern with these systems’ increasing complexity and connectivity. Further transmission losses and its vulnerability to the single point of failure (SPOF) are also major concerns. Microgrids are becoming an alternative to large, centralized smart grids that can be managed locally with fewer user bases and are safe from SPOF. Microgrids cater to small geographical areas and populations that can be easily managed at the local level and utilized for different sources of energy, like renewable energy. A small group of consumers and producers are involved, but microgrids can also be connected with smart grids if required to exchange the excess energy. Still, these are also vulnerable to cybersecurity threats, as in the case of smart grids, and lack trust due to their decentralized nature without any trusted third party. Blockchain (BC) technology can address the trust and cybersecurity challenges in the energy sector. This article proposes a framework for implementing a BC-based microgrid system for managing all the aspects of a microgrid system, including peer-to-peer (P2P) energy trading, Renewable Energy Certificate (REC), and decentralized energy trading, that can be utilized in the case of Saudi Arabia. It can integrate cybersecurity standards and protocols, as well as the utilization of smart contracts, for more secure and reliable energy generation and distribution with transparency.

Emilio C. Piesciorovsky, Gary Hahn, Raymond Borges Hink, Aaron Werth · 5 authors

Electrical utilities continue to deploy more intelligent electronic devices (IEDs) inside and outside electrical substation, and are associated with customer-owned distributed energy resources (DERs). The integrity and confidentiality of data from these IEDs, like power meters and protective relays, is crucial. Blockchain technology could improve the resilience of microgrids by improving the security of data sharing. The penetration of customer-owned DERs (renewable energy sources) and the increasing deployment of IEDs can lead to integrate power system applications with Distributed Ledger Technology (DLT). In this study, we implemented the electrical faulted phase detection and power quality monitoring algorithms with a Cyber Grid Guard (CGG) system using DLT. In addition, the DERs (wind turbine farms) use case and protective relay cyber-event tests were assessed, by using the CGG system with DLT. In the experimental model, the testbed was created by using a real-time simulator and CGG system with power meters/ protective relays in-the-loop. The data collected from the CGG system and IEDs were compared with the same time stamp source. These results had shown the successful assessment of protection, control and monitoring applications using a CGG system with DLT. In the future, the ESGT with DERs and the CGG system will be used in other power system applications, based on implementing smart contracts between electrical utilities with customer-owned DERs.

Panagiotis Savvidis, Nikolaos Vakakis, Antonis Voulgaridis, Emanuele Bellini · 7 authors

Energy trading is currently transitioning from traditional centralized markets to decentralized peer to peer (P2P) solutions. More and more P2P projects are operating with the Blockchain technology, hosting e-auctions for prosumers who are part of microgrids and operating in the same network. This way of energy trading might be ideal for trading types of renewable energy with high predictability but the same does not apply for lower predictability types, such as solar energy. A critical issue of P2P energy trading markets, that operate only in the context of local energy communities, is the availability of resources when every prosumer adapts the same role in the market, thus leading to either large excess or deficit of energy. This paper introduces a blockchain-based semi-decentralized (hybrid) energy trading market that consists of more than one microgrids and each microgrid is composed of prosumers who produce and trade energy with others within their microgrid. Furthermore, inter-microgrid energy trading can be initiated, as well as trading with the main grid, when there are unmet energy requests. In order to ensure safety and security between untrusted parties, transactions happen in a permissioned blockchain network. As an alternative way to trade energy this solution proposes along with the Fungible Tokens, the use of Non-Fungible Tokens (NFT) that enclose amounts of energy to be used when needed. Each microgrid is equipped with an appropriately sized battery, a repository to maintain profits, and is coordinated by an administration manager, who is responsible for transactions happening outside of the microgrid.

David Vangulick, S.J. Escalona Coronel, Damien Ernst

Grid monitoring is the process of collecting data from sensors across a distribution grid and sending it to a central system (SCADA) to identify and diagnose problems, improve reliability, and save energy and money. The increasing complexity of power flows and the need to manage them using active network management (ANM) strategies requires accurate data and strong defences against cyberattacks. A proof-of-concept software called "MonitORES" was developed using Hyperledger Fabric to demonstrate how a distributed ledger technology (DLT) such as blockchain can be used to monitor and control generation units within ANM schemes, with improved resilience against cyberattacks.

Takeshi Miyamae, Fumihiko Kozakura, Makoto Nakamura, Masanobu Morinaga

The total number of solar power-producing facilities whose Feed-in Tariff (FIT) Program-based ten-year contracts will expire by 2023 is expected to reach approximately 1.65 million in Japan. If the facilities that produce or consume renewable energy would increase to reach a large number, e.g., two million, blockchain would not be capable of processing all the transactions. In this work, we propose a blockchain-based electricity-tracking platform for renewable energy, called ‘ZGridBC,’ which consists of mutually cooperative two novel decentralized schemes to solve scalability, storage cost, and privacy issues at the same time. One is the electricity production resource management, which is an efficient data management scheme that manages electricity production resources (EPRs) on the blockchain by using UTXO tokens extended to two-dimension (period and electricity amount) to prevent double-spending. The other is the electricity-tracking proof, which is a massive data aggregation scheme that significantly reduces the amount of data managed on the blockchain by using zero-knowledge proof (ZKP). Thereafter, we illustrate the architecture of ZGridBC, consider its scalability, security, and privacy, and illustrate the implementation of ZGridBC. Finally, we evaluate the scalability of ZGridBC, which handles two million electricity facilities with far less cost per environmental value compared with the price of the environmental value proposed by METI (=0.3 yen/kWh).

Abdulrezzak Zekiye, Öznur Özkasap

The Internet of Energy (IoE) is a distributed paradigm that leverages smart networks and distributed system technologies to enable decentralized energy systems. In contrast to the traditional centralized energy systems, distributed Energy Internet systems comprise multiple components and communication requirements that demand innovative technologies for decentralization, reliability, efficiency, and security. Recent advances in blockchain architectures, smart contracts, and distributed federated learning technologies have opened up new opportunities for realizing decentralized Energy Internet services. In this paper, we present a comprehensive analysis and classification of state-of-the-art solutions that employ blockchain, smart contracts, and federated learning for the IoE domains. Specifically, we identify four representative system models and discuss their key aspects. These models demonstrate the diverse ways in which blockchain, smart contracts, and federated learning can be integrated to support the main domains of IoE, namely distributed energy trading and sharing, smart microgrid energy networks, and electric and connected vehicle management. Furthermore, we provide a detailed comparison of the different levels of decentralization, the advantages of federated learning, and the benefits of using blockchain for the IoE systems. Additionally, we identify open issues and areas for future research for integrating federated learning and blockchain in the Internet of Energy domains.

Kimia Honari, Sara Rouhani, Nida E. Falak, Yuan Liu · 8 authors

Blockchain technology and, in particular, smart contracts based on it, offers a new, decentralized mechanism for entering into and fulfilling contracts in diverse markets. Energy markets are no exception, and indeed, the decentralized nature of the blockchain may be particularly important for them as the penetration of residential prosumers offering microgeneration to the grid grows. At this time, however, the literature on smart contracts in energy markets—and particularly their interaction with the technical infrastructure of the smart grid—is limited and scattered. There is a need to consolidate these studies into a comprehensive understanding of the state-of-the-art in smart contract design for the smart grid. However, no existing reviews focus on smart contracts in energy systems. The scope of our study is the role of smart contracts in energy systems and what limitations they encounter. We conduct a systematic review of this topic, focusing on systems that have been implemented as prototypes. These studies provide key evidence on the scalability of smart contracts for energy systems and their interaction with the technical elements of the smart grid. We selected a pool of 76 papers meeting our criteria, with three others excluded for misinterpreting fundamental aspects of blockchains and smart contracts. After reviewing each paper, we found that this literature falls into four categories: market operations, ancillary services, auditing and monitoring, and cybersecurity. We then identify and examine the cross-cutting concerns of data storage in and interoperability between blockchains. We finally discuss the implications of our findings for future research. In particular, there is likely to be a complex interplay between the data generated and stored via the blockchain versus the data required to meet energy system reliability targets and market obligations for participants.

Vaios Bolgouras, Thodoris Ioannidis, Ilias Politis, Apostolis Zarras · 5 authors

The rapid adoption of smart grids demands robust security and efficiency measures due to their critical role in delivering electricity and their potential for customer-oriented benefits. This paper presents an innovative framework, named RETINA, which provides a resilient and secure energy trading mechanism within smart grid systems. RETINA tackles the inherent security and infrastructure challenges in smart grids by establishing a trust-based security layer and facilitating energy transactions through blockchain technology. Our proposed solution integrates Public Key Infrastructure (PKI) and the Web of Trust (WoT) concepts, promoting decentralized communication channels and robust key management. We further introduce a smart contract-based energy trading mechanism that factors in trust, distance, and energy type (green or non-green) in cost calculation. The utility and robustness of RETINA have been validated in a virtualized testbed environment with 500 nodes, demonstrating superior performance in terms of scalability and resilience compared to the existing WoT scheme. Furthermore, RETINA successfully enables a secure and efficient energy trading scheme, promoting the use of renewable energy sources. Future enhancements will include application to a realistic smart grid deployment and the integration of additional functionalities. This groundbreaking solution has the potential to revolutionize the smart grid ecosystem, addressing its current limitations and propelling the industry towards a future of advanced and secure energy exchange.

Yunfa Li, Di Zhang, Zetian Wang, Guanxu Liu

With the advancement of smart devices, the operation and communication of smart grids have become increasingly efficient. Many smart devices such as smart meters, smart transformers, and smart grid controllers are already widely used in smart grids. Thus, a series of complex architectures and a series of communication modes have been formed. However, these smart devices will be exposed to various cyber attacks such as distributed denial of service (DDoS) attack and replay attack. This is because they are open and dynamic. Therefore, there are serious security problems in the complex architectures and the communication modes. In this paper, we propose a multi-domain authentication mechanism based on blockchain cooperation to maintain the security of smart devices. In this mechanism, we propose a series of methods and algorithms, which include initialization method based on blockchain cooperative authentication, dynamic change method of intelligent devices and information, cross-domain authentication algorithm, and cross-domain key cooperative algorithm. To demonstrate the security and effectiveness of our proposed mechanism, we analysed its security and conducted a series of simulation experiments. The analysis and simulation experiments show that our proposed approach is secure and effective.

Hongyi Li, Hongxun Hui, Hongcai Zhang

The paradigm shift from a coal-based power system to a renewable-energy-based power system brings more challenges to the supply-demand balance of the grid. Distributed energy resources (DERs), which can provide operating reserve to the grid, are regarded as a promising solution to compensate for the power fluctuation of the renewable energy resources. Small-scale DERs can be aggregated as a virtual power plant (VPP), which is eligible to bid in the operating reserve market. Since the DERs usually belong to different entities, it is important to investigate the VPP operation framework that coordinates the DERs in a trusted manner. In this paper, we propose a blockchain-assisted operating reserve framework for VPPs that aggregates various DERs. Considering the heterogeneity of various DERs, we propose a unified reserve capacity evaluation method to facilitate the aggregation of DERs. By considering the mismatch between actual available reserve capacity and the estimated value, the performance of VPP in the operating reserve market is improved. A hardware-based experimental system is developed, and numerical results are presented to demonstrate the effectiveness of the proposed framework.

Emilio C. Piesciorovsky, Gary Hahn, Raymond Borges Hink, Aaron Werth · 5 authors

Electrical utilities continue to deploy more intelligent electronic devices (IEDs) inside and outside electrical substation and are associated with distributed energy resources (DERs). The integrity and confidentiality of data from IEDs is crucial, and distributed ledger technology (DLT) could improve the resilience of microgrids by helping to make these data more secure. The most popular applications using blockchain technology for electrical utilities is in the field is based on energy trading. However, the dynamism of the penetration of customer owned DERs and the deployment of sensors with IEDs have led to the identification of new applications using DLT that are focused on other areas, such as monitoring, operation and management of the grid and its assets. In addition, the majority of studies on electrical grid applications with blockchain were validated with software simulations. Although general monitoring of power systems for using DLT could be evaluated in operational electric grids, other DLT research applications such as defense against cyber-attacks and/or electrical fault detection are not likely to be performed in a real infrastructure because of possible risks to the network/equipment security. This report summarizes the application of power system applications using distributed ledger technology (DLT), providing a secure DLT framework for collecting data from IEDs like power meters and protective relays inside and outside of an electrical substation and/or between two different electrical utilities. In this study, the use case scenarios were created and assessed for different power system application by using DLT. The electrical fault detection for faulted phases (1), power quality monitoring of phase voltage magnitudes, frequency levels and load power factor (2), DERs use case monitoring (3), and cyber-event applications (4) were performed in a test bed with a Cyber-Grid Guard (CGG) system using DLT. It had a real-time simulator with power meters and protective relays in-the-loop. The first section of this report presents a literature review of power system applications using blockchain at research level. The second section shows the theory and equations used on this report. The third section shows the description of the test bed, equipment, architecture, and electrical grid diagrams. The fourth section shows the experimental models and use case scenarios that were performed for the electrical fault detection, power quality, DERs use case, and cyber event applications with the CGG system using DLT. The fifth section shows the results collected from the tests based on comparing the time stamped events of the analog signals from the IEDs, DLT computer and real time simulator. The sixth section performed the discussion of the results for the use case scenarios. Finally, section seven presents the conclusions for this report were presented.

Ümit Cali, Murat Kuzlu, Onur Elma, Osman Gazi Güçlütürk · 6 authors

With the advancement of green energy technology and rising public and political acceptance, electric vehicles (EVs) have grown in popularity. Electric motors, batteries, and charging systems are considered major components of EVs. The electric power infrastructure has been designed to accommodate the needs of EVs, with an emphasis on bidirectional power flow to facilitate power exchange. Furthermore, the communication infrastructure has been enhanced to enable cars to communicate and exchange information with one another, also known as Vehicle-to-Everything (V2X) technology. V2X is positioned to become a bigger and smarter system in the future of transportation, thanks to upcoming digital technologies like Artificial Intelligence (AI), Distributed Ledger Technology, and the Internet of Things. However, like with any technology that includes data collection and sharing, there are issues with digital privacy and cybersecurity. This paper addresses these concerns by creating a multi-layer Cyber-Physical-Social Systems (CPSS) architecture to investigate possible privacy and cybersecurity risks associated with V2X. Using the CPSS paradigm, this research explores the interaction of EV infrastructure as a very critical part of the V2X ecosystem, digital privacy, and cybersecurity concerns.

Liwa H. Al-Farhani, Yahya Alqahtani, Hamdan Alshehri, John Martin · 6 authors

The widespread use of the Internet of Things (IoT) technology has both good and bad things about it. There must be a full and reliable security system in place for the Internet of Things so that things can work together in a safe way and intrusions cannot happen. There are now many more ways to keep the Internet of Things safe, thanks to a detecting system. As machine learning and deep learning technologies have become better, a lot of good intrusion detection systems have been made. This kind of study is covered. These two types of security are compared in this study. The current machine-based intrusion detection system is broken down into more detailed categories based on detection technology, data source, architecture, and operating method. These categories are as follows: It is talked about how IoT security will grow in the future and how to understand its intrusion detection system too. In this paper, a cloud-based blockchain security model has been presented for secure data transmission over IoT.

Jaime Fúster de la Fuente, Álvaro Pendás-Recondo, Leon Wong, Paul Harvey

Operation and management of telecommunication networks are increasingly difficult with the demands and behaviors of users exceeding the capacity of network engineers to keep pace. This has led to increased automation of the network, enabled by various forms of intelligent software. One such proposal from the ITU-T Focus Group on Autonomous Networks (standardization group) is an architecture to achieve self-driven automation (i.e. autonomy) of network operation, whereby technology from different operators and third parties is self-assembled and deployed in production networks. This raises questions and challenges regarding transparency, auditability, and trust while maintaining interoperability.This work presents an initial study of a distributed and decentralized marketplace to bring transparent and auditable trust to the proposed architecture without sacrificing interoperable functionality. We demonstrated this by our proof of concept implementation of both the proposed architecture and marketplace based on the combination of Ethereum and IPFS.

Luis Velasco, Marc Ruiz, Pol González, Vincent Lefèbvre · 6 authors

Multi-agent systems (MAS) have been proposed as an alternative to traditional centralized control for near real-time service control. However, MAS also show a distributed attack surface. To overcome their software higher security exposure, we combine a set of scalable techniques fostering enhanced security applied on individual agents and their communications. Specifically, the proposed solution combines: <em>i</em>) binary hardening with secure execution monitoring; <em>ii</em>) distributed ledger technologies for non-real-time MAS management; and <em>iii</em>) VXLAN and encrypted communications for near real-time MAS operation. The solution is designed not only to provide strong security to the MAS, but also to minimize any functional overhead.

Jian Su, Mengnan Jiang

In the industrial Internet of things (IIoT), various applications generate a large number of interactions and are vulnerable to various attacks, which are difficult to be monitored in a sophisticated way by traditional network architectures. Therefore, deploying software-defined network (SDN) in IIoT is essential to defend against various attacks. However, SDN has a draw-back: there is a security problem of distributed denial-of-service (DDoS) attacks at the control layer. This paper proposes an effective solution: DDoS detection within the domain using tri-entropy in information theory. The detected attacks are then uploaded to a smart contract in the blockchain, so that the attacks can be quickly cut off even if the same attack occurs in different domains. Experimental validation was conducted under different attack strengths and multiple identical attacks, and the results show that the method has better detection ability under different attack strengths and can quickly block the same attacks.

Authors unavailable

the framework of relevant moral, safety, and ethical governance, we can generate various transportation planning schemes, different traffic application scenarios, and various ma nagement a nd control algorithms through only a few words.Gone are those days when we had to draw pictures one by one, set parameters one by one, and write code line by line.Meantime, the decentralized autonomous organization (DAO) is on the way.With no doubt, in the near future, with a clear sign of vitality, DAO and decentralized science (DeSci) will gradually become a new stream of scientific research and management organization mode, showing great

Darcy Camargo, Andreas Penzkofer, Sebastian Müller, William H. Sanders

The robust construction of the ledger data structure is an essential ingredient for the safe operation of a distributed ledger. While in traditional linear blockchain systems, permission to append to the structure is leader-based, in Directed Acyclic Graph-based ledgers, the writing access can be organised leaderless. However, this leaderless approach relies on fair treatment of non-referenced blocks, i.e. tips, by honest block issuers. We study the impact of a deviation from the standard tip selection by a subset of block issuers with the aim of halting the confirmation of honest blocks entirely. W e provide models on this so-called orphanage of blocks and validate these through open-sourced simulation studies. A critical threshold for the adversary issuance rate is shown to exist, above which the tip pool becomes unstable, while for values below the orphanage decrease exponentially. We study the robustness of the protocol with an expiration time on tips, also called garbage collection, and modification of the parent references per block.

Anchisa Pinyo, Athikom Bangviwat

In 2022, Thailand’s Demand Response (DR) business model was shifting from the Traditional Utility (TU) model to the Load Aggregator (LA) model in accordance with Thailand’s smart grid master plan. This research studied the current demand response model and mechanism to draw possible gaps in operations. This research deals with the data system owned by the individual load aggregator. The load aggregators collect meter data and evaluate demand adaptations before sending the results to claim compensation on behalf of their customers. This approach lacks transparency and facilitates distortion of the facts. Hence, this research introduces the data execution by smart contracts and data records on the blockchain that enhance transparent data sharing among multiple parties and maintain data integrity. Moreover, the proposed bidding algorithm allows customers to offer an expected price under the maximum incentive payment determined by the avoided costs of running the peaking power plants. Hence, the bidding helps reflect the DR operation costs on the customer side and control the budget for incentive payments. This study emphasized the smart contracts and decentralized application layer, so the public blockchain is a reasonable network for the test. However, implementation in real cases using the public blockchain requires careful considerations, such as network fees, transaction speeds, and the security of smart contract codes.