An efficient and privacy-preserving energy trading scheme based on blockchain

Abstract

Distributed transaction model has gradually replaced the traditional centralized transaction model and has become the leading direction of development in energy trading. As the underlying support, blockchain technology is attracting more and more attention due to its advantages, i.e., integrity and non-repudiation. However, most blockchain-based trading models face the problem of privacy protection. In this paper, to solve this problem, Ciphertext-Policy Attribute-Based Encryption (CP-ABE) is introduced as the core algorithm to reconstruct the transaction model. Specifically, we build a general model for distributed transaction called PP-BCTS (Privacy- Preserving Blockchain Trading Scheme). It can achieve fine-grained access control through transaction arbitration in ciphertext form. This design can maximize the protection of private information and can greatly improve the security and reliability of the transaction model. Additionally, a credibility-based equity proof consensus mechanism is proposed in PP-BCTS, which can greatly improve the operational efficiency. Security analysis and experimental evaluations are conducted to prove the validity and practicability of our proposed scheme.