Blockchain Papers

Russell Sadeghi, Saeid Sadeghi, Ashkan Memari, Saba Rezaeinejad · 5 authors

No abstract is available for this record.

Shichang Cui, Shuang Xu, Fei Hu, Yong Zhao · 6 authors

This paper investigates a double auction-based peer-to-peer (P2P) energy trading market for a community of renewable prosumers with private information on reservation price and quantity of energy to be traded. A novel competition padding auction (CPA) mechanism for P2P energy trading is proposed to address the budget deficit problem while holding the advantages of the widely-used Vickrey-Clarke-Groves mechanism. To illustrate the theoretical properties of the CPA mechanism, the sufficient conditions are identified for a truth-telling equilibrium with a budget surplus to exist, while further proving its asymptotical economic efficiency. In addition, the CPA mechanism is implemented through consortium blockchain smart contracts to create safer, faster, and larger P2P energy trading markets. The proposed mechanism is embedded into blockchain consensus protocols for high consensus efficiency, and the budget surplus of the CPA mechanism motivates the prosumers to manage the blockchain. Case studies are carried out to show the effectiveness of the proposed method.

Nikolas Schöne, Tim Ronan Britton, Edouard Delatte, Nicolas Saincy · 5 authors

Off-grid electrification planning increasingly recognizes the importance of productive use of electricity (PUE) to promote community value creation and (financial) project sustainability. To ensure a sustainable and efficient integration in the community and energy system, PUE assets must be carefully evaluated to match both the community needs and the residential electricity demand patterns. We propose a novel methodology interlinking qualitative interviews, statistical analysis and energy system modeling to optimize decision making for PUE integration in off-grid energy systems in rural Madagascar by aligning relevant PUE effectively with anticipated residential electricity demand patterns based on socio-economic determinants of the community. We find that a possible contribution of the PUE to reducing the electricity costs depends significantly on three factors: (1) The residential electricity consumption patterns, which are influenced by the socio-economic composition of the community; (2) The degree of flexibility of (i) PUE assets and (ii) operational preferences of the PUE user; and (3) The capacity of community members to finance and operate PUE assets. Our study demonstrates that significant cost reductions for PUE-integrated off-grid energy systems can be achieved by applying our proposed methodology. When matching PUE and residential consumption patterns, the integration of PUE assets in residential community energy systems can reduce the financial risk for operators, provided the PUE enterprise operates reliably and sustainably. We highlight that the consideration of local value chains and co-creation approaches are essential to ensure the energy system is addressing the community’s needs, creates value for the community, enhances the project’s financial sustainability and is achieving the overall objectives of decentralized energy system planning.

Lianna Zhao, Pietro Ferraro, Robert Shorten

In this paper we present the design for a smart-mask to mitigate the impact of an airborne virus such as COVID-19. The design utilises recent results from feedback control theory over a distributed ledger that have been developed to enforce compliance in a pseudo-anonymous manner. The design is based on the use of the IOTA distributed ledger. A hardware-in-the-loop simulation based on indoor positioning, paired with Monte-Carlo simulations, is developed to demonstrate the efficacy of the designed prototype.

Babar Sattar Khan, Affaq Qamar, Wadood Abdul, Khalid AlMuhanna · 5 authors

The modern power generation systems are increasing their reliance on high penetrations of distributed energy resources (DERs). However, the optimal dispatching mechanisms mainly rely on central controls which receive the load demand information from the electricity utility providers and allocate the electricity production targets to participating generating units. The lack of transparency and control over the DER fuel inputs makes the physical power purchase agreements (PPAs) a cumbersome task. This research work proposes an innovative fractal moth flame optimization (FMFO) approach to tackle the problem of integrated load dispatch (ILD). The proposed methodology provides a mechanism to integrate the information of the proposed optimizer, i.e., FMFO into the smart contracts enabled by the blockchain technology. This problem entails the allocation of loads to power-generating units in a manner that minimizes the total generation cost in a decentralized manner. To improve the efficiency of dispatch operations in the presence of a substantial integration of wind energy, this study proposes a novel framework based on the principles of fractal heritage, drawing inspiration from the classical MFO method. To assess the effectiveness and adaptability of the algorithm suggested, various non-convex scenarios in the context of optimization for ILD are considered. These scenarios incorporate valve-point loading effects (VPLEs), capacity limitations, power plants with multiple fuel options, and the presence of stochastic wind (SW) power uncertainty, following a Weibull distribution. The findings demonstrate exceptional performance in terms of minimizing fuel generation costs compared to traditional algorithms.

Mansour Selseleh Jonban, Luis Romeral, Mousa Marzband, Abdullah Abusorrah

No abstract is available for this record.

Aparna Kumari, Riya Kakkar, Sudeep Tanwar, Deepak Garg · 7 authors

No abstract is available for this record.

A. T. Dzhonov, Sergey Avdoshin

Currently, there is an active use of distributed registry technology in various sectors of the economy by providing transparency, improving tracking of actions within processes, and ensuring trust in open systems. There is a need to evaluate the performance of distributed registries based on measurable indicators. The article presents an overview of distributed registries performance indicators, methods to improve the efficiency and evaluation of distributed registries.

Mohamed Vall Ould Mohamed, Almoataz Y. Abdelaziz, Farag K. Abo‐Elyousr

No abstract is available for this record.

Peng Zhang, Peilin Wu, Yuhong Liu, Ye Chen · 7 authors

The rapid expansion of transactive energy has transformed traditional electricity consumers into producers, engaging in local energy trading. In the context of distributed energy transactions, blockchain technology has been increasingly applied to facilitate transaction transparency and reliability. However, due to the challenges in collecting accurate energy transmission data from power lines, most existing studies on the blockchain-based transactive energy market are still vulnerable to security attacks, such as malicious users misreporting energy prices, refusing to pay or refusing to transmit energy. Therefore, based on the co-simulation platform PEMT-CoSim and a blockchain, we establish a blockchain-based, reputation-aware secure transactive energy market (STEM) by introducing a reputation scheme to evaluate the trustworthiness of all prosumers and designing reputation-aware, multi-round double auction and energy transmission algorithms to detect and penalize malicious attacks. Furthermore, we run comprehensive experiments for different use cases. The results show that even with malicious participants, the proposed system can guarantee the interests of the honest participants and improve the robustness and effectiveness of the energy market.

Mehran Hajiaghapour‐Moghimi, Ehsan Hajipour, Kamyar Azimi Hosseini, Mehdi Vakilian · 5 authors

Renewable electrical energy (such as: solar and wind energies) generation in microgrids (MGs), is gaining attention to reduce greenhouse gas emissions. Microgrid operators (MOs) aim to create self-sufficient, environmentally sustainable grids, increasing the capacity of renewable energy sources (RESs) by up to 100%. Despite of the benefits of this trend, challenges arise from non-controlled characteristics of these power generations and their seasonal variations, causing fluctuations and renewable energy curtailment. Although the technical solutions; such as: the demand response (DR) programs, and the conventional electrical energy storage systems (EESSs) can help, however those may face limitations in countries with high seasonal energy generation and consumption variations. This paper introduces cryptocurrency mining loads (CMLs) as innovative virtual energy storage systems (VESSs), named cryptocurrency energy storage systems (CESSs). It proposes a structure to store excess renewable energy in cryptocurrency units (CCUs) like Bitcoin (BTC). CESSs can be charged during off-peak intervals and, conversely, they discharge during high-demand periods to reduce the overall operational cost of MGs. Furthermore, it presents a new energy management system (EMS) formulation for the optimal operation of MGs in the presence of CESSs, providing an opportunity to generate additional electricity from RESs and to mitigate renewable energy curtailment. This paper explores the optimal operation conditions of both islanded and grid-connected MG with the proposed CESS. Utilizing a dataset from an island in Finland as a practical MG, its effectiveness is demonstrated through several case studies. The results of one case study in this paper demonstrate that the proposed CESS can decrease the operating cost of the MG by about 46.5%. Additionally, it is showed that by application of CESS the renewable energy curtailment is significantly reduced, and approached zero.

H S Gururaja, Ananya Hebbar, Amisha S Poojary, Asritam Aniruddh Bharadwaj · 5 authors

Blockchain technology can be used to create a decentralized energy trading system for grids that rely on renewable energy sources. This system would allow individuals and organizations that generate renewable energy, such as solar or wind power, to sell excess energy to others on the grid through a peer-to-peer network. Blockchain has smart contracts that facilitate the transactions and ensure that the energy is exchanged securely and transparently. This type of system can increase the efficiency and flexibility of the grid, and help to improve the acquisition of sustainable energy resources. The system allows organizations and smart homes that generate sustainable energy to trade excess energy to others on the grid through a peer-to-peer network, facilitated by smart contracts. The use of blockchain in this manner can increase the efficiency and flexibility of grids and promote the adoption of renewable energy sources. Blockchain technology possesses the potential to transform the energy trading system by creating a decentralized, secure, and transparent P2P energy trading facility for grids that rely on renewable energy sources. This facility allows the trading of energy that is produced in excess by any entity through smart contracts. By using blockchain technology, the energy trading process is more efficient, secure, and transparent, and it can facilitate the adoption of sustainable energy sources. The implementation of such a system, however, requires collaboration between various stakeholders and compliance with existing regulations and standards of the energy sector. Despite the challenges, the potential benefits of a blockchain-based smart decentralized energy trading system make it a promising solution for the future of the energy sector.

Ahsan Waseem, Mohd Bilal, Abhishek Bhardwaj, M. Saad Bin Arif · 5 authors

This article explores energy trading in grid-connected microgrids powered by renewable sources, utilizing cryptocurrency and blockchain technology. Through net metering, it emphasizes the proactive roles of prosumers and consumers in managing excess energy. The study investigates peer-to-peer energy transfers with blockchain-based cryptocurrencies, high-lighting their advantages in affordability, trade efficiency, and openness. Real-world case like LO3 Energy and Power Ledger are examined to address regulation, scalability, and cybersecurity concerns. The paper explores blockchain-enabled energy trade revolutionizing the industry, enhancing community resilience, accelerating renewable energy adoption, and reducing reliance on outdated technologies.

Aranya Gautam, Priyanka Paliwal, Anoop Arya

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.

Paraskevas Koukaras, Konstantinos D. Afentoulis, Paschalis A. Gkaidatzis, Aristeidis Mystakidis · 7 authors

This research, conducted throughout the years 2022 and 2023, examines the role of blockchain technology in optimizing Demand Response (DR) within Smart Grids (SGs). It critically assesses a range of blockchain architectures, evaluating their impact on enhancing DR’s efficiency, security, and consumer engagement. Concurrently, it addresses challenges like scalability, interoperability, and regulatory complexities inherent in merging blockchain with existing energy systems. By integrating theoretical and practical viewpoints, it reveals the potential of blockchain technology to revolutionize Demand Response (DR). Findings affirm that integrating blockchain technology into SGs effectively enhances the efficiency and security of DR, and empirical data illustrate substantial improvements in both cases. Furthermore, key challenges include scalability and interoperability, and also identifying opportunities to enhance consumer engagement and foster system transparency in the adoption of blockchain within DR and SGs. Finally, this work emphasizes the necessity for further investigation to address development hurdles and enhance the effectiveness of blockchain technology in sustainable energy management in SGs.

Mohammad Parhamfar, Iman Sadeghkhani, Amir Mohammad Adeli

Abstract The increasing trend of energy generation and management systems towards decentralized structures such as using renewable energy resources makes it necessary to use digital and smart platforms for exchanging information and even conducting financial transactions in a decentralized manner, known as the peer‐to‐peer model. The decentralized transaction verification of cryptocurrencies makes it possible to use these encrypted currencies and decentralized blockchain networks in energy management systems and carry out financial transactions related to carbon trading. Carbon and other greenhouse gas (GHG) emission trading systems reduce the competitiveness of fossil fuel projects in the market and accelerate investment in low‐carbon energy sources such as wind and photovoltaic power generation units. This market mechanism allows large entities such as countries and companies that emit GHGs into the atmosphere to buy and sell these gases. This paper reviews the blockchain solutions developed for carbon markets. Studies related to the design of smart contracts in the platform of blockchain are investigated. Special cryptocurrencies that are used in the field of green energy transactions and carbon trading are introduced. In addition, the application of artificial intelligence and game theory in energy trading is stated. The study of different blockchain frameworks for carbon trading shows that the use of decentralized platforms in carbon trading can have a significant impact on the trend towards low‐carbon measures and achieving the goals of the Kyoto Treaty, increasing the value of green cryptocurrencies and the volume of transactions. These technologies offer a promising avenue for creating a more decentralized, efficient, and environmentally conscious energy ecosystem.

Charithri Yapa, Chamitha de Alwis, Madhusanka Liyanage, Janaka Ekanayake

Blockchain has become the technology enabler in delivering modern Smart Grid 2.0 functionalities. Many services including Peer-to-Peer energy trading, distribution network management, financial settlements, and energy data management are catered through blockchain-enabled platforms. However, areas such as service quality-based pricing strategies, supply–demand balancing in distribution system to attain enhanced reliability and consumption-oriented rewarding mechanisms need improving in order to achieve the full benefits of the envisaged grid architecture. In response, this study proposes a novel Blockchain-as-a-Service for Energy Trading (BaaSET) platform, which offers reputation-based services, executed through smart contracts for smart grid applications. Reputation-based grid operations are automatically executed through smart contracts deployed onto a blockchain. The reputation is estimated using power quality and reliability indices, obtained through grid measurements. Further, tests have been conducted to evaluate the associated latency and the implementation cost of the proposed blockchainized service architecture. Test results signify the performance to be comparatively better considering the state-of-the-art. The results further suggest alternatives to improve the scalability of the architecture, to cater the increasing number of stakeholders in the SG 2.0 environment.

Madhusudan Naik, Akhilendra Pratap Singh, Nihar Ranjan Pradhan, Neeraj Kumar · 6 authors

The rapid increase in the adoption of Electric Vehicles (EVs) and the installation of Charging Stations (CSs) are key components for bidirectional energy transfer between EVs and CSs. However, the traditional techniques of energy trading have issues of trust, scalability, traceability, provenance, and authenticity among energy prosumers. To address these challenges, particularly information imbalances between energy buyers and sellers, we propose TokenGreen, a novel framework that leverages blockchain and Non Fungible Tokens (NFTs) to enable participants to have ownership of energy assets through investments in distributed energy generation, distribution, and clean energy infrastructure, leading to trust and transparency management among the participants. The proposed framework uses Ethereum Virtual Machine (EVM), ERC-721 NFT, Inter Planatery File System (IPFS), and Solidity smart contracts to develop an NFT based energy marketplace. Various smart contracts, contract events, functions, algorithms, have been designed and integrated into the energy marketplace to facilitate the minting, creation, purchase, and resale of NFT tokens, including energy trading. To assess the performance of the proposal, experiments are performed using tools such as Geth, Hyperledger Caliper, and the Ethereum SDK. The obtained results indicate that the average maximum latency for CreateToken reached 12.39s, while BuyToken and ResellToken reached 11.02s. Additionally, the average minimum latency for CreateToken, BuyToken, and ResellToken reached 10.46s, 10.03s, and 9.14s, respectively. On average, memory consumption ranged from 640 to 775 MB, while CPU usage averaged between 30% and 55% for each function. The performance analysis indicate CreateToken has low throughput, while BuyToken shows higher, and ResellToken exhibits the highest throughput due to fewer write operations. TokenGreen demonstrates superior performance compared to the existing state-of-the-art, considering the mentioned parameters.

Godwin C. Okwuibe, Thomas Brenner, Muhammad Yahya, Peter Tzscheutschler · 5 authors

Abstract Blockchain‐based local energy markets have been proposed in recent years to provide a market platform for local prosumers and consumers to exchange their energy in a secured, transparent and tamper‐proof manner. However, there are still some challenges regarding the scalability of blockchain to handle high computational models/algorithms/contracts as this may result in the extension of the block size of the blockchain network and very high gas costs. Also, there is still the problem of transparency as regards General Data Protection Regulation because the full visibility of data in the blockchain may collide with privacy in some settings. A framework is presented that combines the on‐chain features of blockchain with trusted execution environments to develop a transparent, tamper‐resistant, low operation cost, scalable and resilient hybrid model architecture for local electricity trading. The model architecture was simulated in German community case scenarios for a varying number of prosumers and consumers to show its applicability. The simulation results show that the model was able to solve the scalability problem of blockchain for the local energy market application as the market model is run in a trusted environment where the integrity of the model can be verified by the participants.

Azana Hafizah Mohd Aman, Norazuwana Shaari, Zainab S. Attar Bashi, Saman Iftikhar · 7 authors

The Internet of Things (IoT) and Blockchain paradigms have offered significant benefits in recent technological innovations. Blockchain has been rated one of the top ten strategic technologies in a recent Gartner survey, and it is increasingly being employed in a range of industries. Blockchains provide transparent, tamper-proof, and secure platforms that, enables ground-breaking commercial solutions. Nonetheless, the use of blockchain technology for IoT Smart Residential energy systems looks to be relatively unexplored. In fact, most IoT devices are powered by a battery with a short life span. Generating and managing energy on an infinite scale is a much more ambitious goal than relying solely on battery power. Hence, this topic is addressed in this article, focusing on the IoT energy systems, renewable energy resources, and how energy is successfully stored. By thoroughly evaluating the literature and existing research cases, this article contributes to the state-of-the-art. Our study examines the opportunities, challenges, and constraints for the evolving peer-to-peer energy systems and blockchain-IoT applications. The study concludes with the hurdles that technology must overcome in order to move beyond the hype phase and into mainstream acceptance.

Ziming Liu, Bonan Huang, Yushuai Li, Qiuye Sun · 6 authors

The development of low-carbon power systems has not only elevated the investment costs of power enterprises, but also generated a vast amount of electricity data. The electricity data trading holds promising potential as a primary means to cover investment costs. However, there is a lack of research on the electricity data trading. To address this issue, this article designs an electricity data trading method based on price game and blockchain for low-carbon power systems. It encompasses a data trading framework and the corresponding trading mechanism. The proposed trading framework contains data providers, data consumers, and a blockchain-based information system that plays the role of the data servicer to handle the transactions between data providers and consumers. The proposed trading mechanism mainly consists of three parts: 1) valuation; 2) pricing; and 3) copyrights confirmation. Those parts are executed sequentially to complete the electricity data trading process from valuation to clearing. Specially, the information theory is employed to realize multidimensional electricity data valuation. Further, the data trading game pricing is formulated as a multiobjective optimization problem considering market power constraints to solve. In addition, the digital watermarking combined with blockchain is designed to protect the electricity data copyright. With those components, the designed electricity data trading method enables the power enterprises to make profit from the low-carbon smart energy systems. Finally, experiments demonstrate the effectiveness of the proposed method.

Charithri Yapa, Chamitha de Alwis, Uditha Wijewardhana, Madhusanka Liyanage

Integrating renewable energy generation in the consumer end has transformed users acting as both buyers and sellers. Uncoordinated interconnections lead to degraded power quality, which demands for continuous network monitoring. This study evaluates the applicability of the network monitoring process to develop a novel consensus protocol, customized for blockchain platforms integrated with smart grids. The motivation for integrating grid monitoring with the blockchain consensus mechanism lies in the significance of decentralized architectures such as distributed ledger technologies for future energy grids. Existing blockchain consensus mechanisms have exhibited excessive energy usage and low scalability due to the additional workload associated. Hence, the study proposes a customised solution, which has the advantage of combining grid monitoring with the blockchain consensus protocol. This eliminates the additional computation burden, reduces the cost of execution, and improves the transaction throughput of the blockchain consensus mechanism.

Mohammad Hossein Yaghmaee

Blockchain is a peer-to-peer network that maintains a shared and trusted ledger by packaging transactions into blocks. Blockchain technology powers Bitcoin, a decentralized digital currency. Within blockchain networks, miners, and specialized computers validate each new block by solving computationally intensive cryptographic puzzles to confirm the transactions within. To make decisions on the validity of new blocks, a consensus mechanism must be performed, which is a complex and time-consuming operation that consumes a significant amount of electrical energy. In this article, we first evaluate the profitability of Bitcoin miners in terms of energy prices. We then present a mining control algorithm that decides to turnon/offminers based on the energy price, Bitcoin price, and total network hash rate. Additionally, we propose an incentive-based demand response program to effectively control the power load in the network and balance supply and demand. We model the demand response program as a mixed integer linear programming optimization problem. Our simulation results confirm the superiority of the proposed demand response program.

Maheswari Raja, P. Saranya, Sharath Kumar Jagannathan, Gulhan Bizel

No abstract is available for this record.