In recent years, various digital currencies have emerged, among which Bitcoin has been widely accepted as an alternative to sovereign currencies for commodity trading. However, the dramatic volatility of bitcoin prices can pose a risk to global financial markets. In this paper, we firstly construct a more comprehensive forecasting index system from seven aspects, and then construct a VMD-GRU model. This model uses the variational modal decomposition (VMD) to decompose the time series into intrinsic mode functions (IMFs) and use gated recurrent unit (GRU) to forecast different IMFs. This paper also compares the forecast results with classical machine learning models and deep learning models, and the results show that the forecast accuracy of the VMD-GRU model is more than 16% better than other models.
Investment is an activity that is popular nowadays. Profitable investments are the hope of every investor. By investing. investors expect the invested assets to generate returns and to obtain profits for future life In investment studies. the most frequently discussed topic is the fluctuations. whether increases or decreases. of an asset's price (stocks). The risk of investment is loss in financial. The fluctuations of stock prices represent risks in the investment field. One measure used to determine gains and losses from stock prices is the return. To know return from data. we may use the compound return formula. Returns have empirical facts that require several tests. In this study. the empirical facts of returns are that the returns are not autocorrelated (autocorrelation function) and that the returns are leptokurtic distributed (thick-tailed distribution). We use the price data of Bitcoin (BTC) and Gasoline (UGA) from January 1. 2019. to December 31. 2023. The main of purpose of this research is to show empirical analysis of the Bitcoin and Gasoline return data. The results of the empirical analysis show that the return of stock price for Bitcoin (BTC) and Gasoline (UGA) meet the empirical properties of returns so that they can capture a good volatility model.
As blockchain technology is widely applied across various fields, the performance requirements of blockchain systems, such as throughput and transaction latency, are increasing. In this context, blockchain systems have gradually evolved to adopt a two-phase consensus protocol that involves election and block generation. By electing a small number of nodes from a large-scale network to form a committee, a more efficient internal consensus protocol can be executed, thereby improving the overall performance of the blockchain system. This paper proposes a node performance detection method based on smart contracts, which sets performance thresholds for committee nodes without compromising the decentralization of public chains. This ensures high performance, low latency, and enhances the reliability of the consensus protocol.
Jan 1, 2024·Proceedings of the ... Annual Hawaii International Conference on System Sciences/Proceedings of the Annual Hawaii International Conference on System Sciences
Ali Menati, Yuting Cai, Rayan El Helou, Chao Tian · 5 authors
We model the operation of a cryptocurrency mining facility with heterogeneous mining devices participating in ancillary services as an optimization problem. We propose a general formulation for the cryptominers to maximize their profit by strategically participating in ancillary services and controlling the loss of mining revenue, which requires taking into account the disparity in the efficiency of the mining machines. The optimization formulation is considered for both offline and online scenarios, and optimal algorithms are proposed to solve these problems. As a special case of our problem, we investigate cryptominers' participation in frequency regulation, where the miners benefit from their fast-responding devices and contribute to grid stability. Simulation results based on real-world Electric Reliability Council of Texas (ERCOT) traces show more than 20\\% gain in profit, highlighting the advantage of our proposed algorithms.
Cryptocurrency has become a pivotal player in global financial transactions due to its decentralized mining process, which eliminates the need for intermediaries. However, the operation of cryptocurrency mining devices (CMDs) requires significant electrical power, leading to an increase in network-connected cryptocurrency mining loads (CMLs) that pose challenges for power grid operators. This paper evaluates the integration of CMLs into power grids, focusing on distribution network performance. A technology-accepted model for assessing cryptocurrency mining performance is presented, along with an analysis of the impacts of high CML penetration on power grid planning and operation. Findings reveal that high CML penetration can complicate load forecasting, congest transmission lines, and increase the coincident peak load in distribution networks. A case study of Iran’s power network indicates that CMLs account for approximately 2.8% of the nation’s electricity consumption. Furthermore, if 5% of residential customers in Tehran install CMDs, the average coincident peak demand for this group rises by 26.81%. Additionally, the average power factor of a sample CMD is about 0.99, while total current distortion and third harmonic current exceed permissible limits, indicating potential power quality issues. This study highlights the challenges posed by CMLs and proposes strategies for their sustainable integration into power grids.
In this paper, we developed an Electromagnetic Transient (EMT) model tailored for large cryptocurrency mining loads to understand the cross-interaction of these loads with the electric grid. The load model has been built using Electromagnetic Transients Program (EMTP) software. We have cross-validated the tripping characteristics of the EMT model of this load with commercial application-specific integrated circuit miners, typically used by large-scale mining facilities, by comparing the low-voltage ride-through (LVRT) capabilities. Subsequently, LVRT capabilities of the large-scale miners have been tested against various fault scenarios both within the miner’s remote facility as well as at one of the distant buses of the interconnected grid. The significance of this model lies in its scalability to accommodate larger blocks of mining loads and its seamless integration into a larger electric grid.
The current electricity transaction process in the electricity market has problems such as high risk, time-consuming, and low efficiency. In order to solve such problems, an improved smart contract electricity transaction model based on blockchain is proposed. The blockchain is a decentralized database with advantages such as non-tampering and encryption security. The blockchain has the advantages of decentralization and high securing. The blockchain and smart contract are applied in the proposed model to improve the efficiency and security of the electricity transaction process. Firstly, the existing problems of the current electricity transaction model are analyzed. Risk assessment is carried out. A decentralized electricity transaction scenario is constructed. Secondly, the reliability coefficient is combined with smart contracts to establish an improved smart contract electricity transaction model based on blockchain. Finally, the feasibility of the model is verified by simulating electricity transaction. The results show that the improved smart contract electricity transaction model proposed is more efficient than the existing transaction model. The model effectively reduces the risk of being attacked and maintain the power market transaction order, thus providing a new idea for the electricity market transaction mode.
Abstract As a decentralized, open, transparent, fair and peer-to-peer distributed database technology, blockchain has the technical characteristics of anti-counterfeiting, anti tampering, traceability and efficiency improvement, which had attracted the attention of many industries including energy and power industry. This paper first analyzed the pain points such as data security sharing, power transaction security and power transaction mode and so on, in current energy and power business, expounded the role of blockchain in solving the above business pain points. Then designed an application framework of blockchain in power business, and illustrated power transaction and supply chain finance to describe the application of blockchain. Finally, prospected the application prospect of blockchain in power industry.
Chen Xiao-lian, Xu Xiaohai, Guo Feng, Li Yang · 6 authors
With the development of energy Internet and the implementation of "cloud, big, material and mobile" strategy, the traditional centralized access authentication mode of power Internet of Things terminal is difficult to meet the ubiquitous application needs. Based on the super-ledger technology of alliance blockchain, this paper studies the distributed access authentication technology of power Internet of Things terminal, combines the key sharing and distribution protocol in secure multi-party computing with the super-ledger consensus algorithm, and proposes an effective access authentication scheme for power Internet of Things terminal. The simulation results show that the proposed scheme has advantages in authentication time and resource consumption.
The development of Energy-Internet is currently suffering from a series of issues, such as the conflicts among high capital requirement, low-cost, high efficiency, the spreading gap between capital demand and supply, as well as the lagged trading & valuation mechanism, any of which would hinder Energy-Internet's evolution. However, with the development of Blockchain and big-data technology, it is possible to work out solutions for these issues. Based on current situation of Energy-Internet and its requirements for future progress, this paper demonstrates the validity of employing blockchain technology to solve the problems encountered by Energy-Internet during its development. It proposes applying the blockchain and big-data technologies to pricing and trading energy products through Energy-Internet and to accomplish cyber-based energy or power's transformation from physic products to financial assets.