A secure and efficient renewable energy trading scheme based on blockchain in smart grid

Abstract

Nowadays, with the diversification and decentralization of energy systems, the energy Internet makes it possible to interconnect distributed energy sources and consumers. In the energy trading market, the traditional centralized model relies entirely on trusted third parties. However, as the number of entities involved in the transactions grows and the forms of transactions diversify, the centralized model gradually exposes problems such as insufficient scalability, High energy consumption, and low processing efficiency. To address these challenges, we propose a secure and efficient energy renewable trading scheme based on blockchain. In our scheme, the electricity market trading model is divided into two levels, which can not only protect the privacy, but also achieve a green computing. In addition, in order to adapt to the relatively weak computing power of the underlying equipment in smart grid, we design a credibility-based equity proof mechanism to greatly improve the system availability. Compared with other similar distributed energy trading schemes, we prove the advantages of our scheme in terms of high operational efficiency and low computational overhead through experimental evaluations. Additionally, we conduct a detailed security analysis to demonstrate that our solution meets the security requirements. - 2019 IEEE.