Blockchain-Based Power Energy Trading Management

Hao Wang*, Shenglan Ma, Chaonian Guo, Yulei Wu*, Hong Ning Dai, Di Wu

*Corresponding author for this work

Research output: Contribution to journalJournal articlepeer-review

16 Citations (Scopus)

Abstract

Distributed peer-to-peer power energy markets are emerging quickly. Due to central governance and lack of effective information aggregation mechanisms, energy trading cannot be efficiently scheduled and tracked. We devise a new distributed energy transaction system over the energy Industrial Internet of Things based on predictive analytics, blockchain, and smart contract technologies. We propose a solution for scheduling distributed energy sources based on the Minimum Cut Maximum Flow theory. Blockchain is used to record transactions and reach consensus. Payment clearing for the actual power consumption is executed via smart contracts. Experimental results on real data show that our solution is practical and achieves a lower total cost for power energy consumption.

Original languageEnglish
Article number43
Number of pages16
JournalACM Transactions on Internet Technology
Volume21
Issue number2
DOIs
Publication statusPublished - Jun 2021

Scopus Subject Areas

  • Computer Networks and Communications

User-Defined Keywords

  • blockchain
  • Distributed energy market
  • minimum cut maximum flow
  • predictive analytics
  • smart contract

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