January 2021
Intermediate to advanced
516 pages
14h 7m
English
book
The Blockchain Technology for Secure and Smart Applications across Industry Verticals
by Neeraj Kumar, Shubhani Aggarwal, Pethuru Raj
Content preview from The Blockchain Technology for Secure and Smart Applications across Industry Verticals
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Chapter Twenty-Three: Smart grid☆
Shubhani Aggarwal; Neeraj Kumar Thapar Institute of Engineering & Technology, Patiala, Punjab, India
Abstract
The integration of blockchain technology and the electric grid makes the grid smart and decentralized. The adoption of blockchain technology allows the grid network to decentralize its operations. This means there is no need for a central authority in the smart grid to control, distribute, and manage the electricity. The decision making and transaction flow in the smart grid do not need to be transmitted through the centralized system. All the transactions and operations performed on the grid network are stored on the public ledgers of a blockchain. The buying and selling energy transactions ...
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