A Smart Contract-Based P2P Energy Trading System with Dynamic Pricing on Ethereum Blockchain

Clicks: 124
ID: 275429
2021
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Abstract
We implement a peer-to-peer (P2P) energy trading system between prosumers and consumers using a smart contract on Ethereum blockchain. The smart contract resides on a blockchain shared by participants and hence guarantees exact execution of trade and keeps immutable transaction records. It removes high cost and overheads needed against hacking or tampering in traditional server-based P2P energy trade systems. The salient features of our implementation include: 1. Dynamic pricing for automatic balancing of total supply and total demand within a microgrid, 2. prevention of double sale, 3. automatic and autonomous operation, 4. experiment on a testbed (Node.js and web3.js API to access Ethereum Virtual Machine on Raspberry Pis with MATLAB interface), and 5. simulation via personas (virtual consumers and prosumers generated from benchmark). Detailed description of our implementation is provided along with state diagrams and core procedures.
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song2021asensors Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Song, Jae Geun;Kang, Eung seon;Shin, Hyeon Woo;Jang, Ju Wook;
Journal sensors
Year 2021
DOI
1985
URL
https://www.mdpi.com/1424-8220/21/6/1985
Keywords
chemistry Biology (General) Chemical technology Engineering (General). Civil engineering (General) Technology physics social sciences (general) history (general) and history of europe language and literature electronic computers. computer science history (general)

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