June 2020
Intermediate to advanced
336 pages
11h 8m
English
book
Cryptocurrencies and Blockchain Technology Applications
by Gulshan Shrivastava, Dac-Nhuong Le, Kavita Sharma
Content preview from Cryptocurrencies and Blockchain Technology Applications
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CHAPTER 14TRADING ENERGY AS A DIGITAL ASSET: A BLOCKCHAIN-BASED ENERGY MARKET
Claudia Pop, Marcel Antal, Tudor Cioara, Ionut Anghel
Technical University of Cluj-Napoca, Cluj-Napoca, Romania
AbstractIn this chapter we address the smart energy grid decentralization problem by proposing a blockchain-based energy market allowing the energy to be traded among prosumers in a peer-to-peer fashion. We discuss how the blockchain technology could facilitate implementation in such a market, allowing the transformation of energy into a digital asset which could be tracked and traded. The main advantages brought by the blockchain technology, such as energy provenance, transactions privacy and immutability, are discussed and details on their implementation in our envisioned energy market are provided. To implement the energy market management operations, such as prosumers registration and permission control, bid/offer matching and financial settlement self-enforcing smart contracts are used. At the same time, prosumer-level smart contracts are used to automatize the bids and offer registration and monitor their energy generation and demand. This is an ongoing research effort and the proof of concept implementation of such an energy market will be tested in selected micro-grid in the coming months.
Keywords: Blockchain, energy market, energy as digital asset, transactions privacy, permission control, smart contracts, P2P energy trading
14.1 Introduction
The architecture of energy distribution ...
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