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Register a new userSPB: A Secure Private Blockchain-based Solution for Energy Trading
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Added by
Ali Dorri
Publication date
2018
fields
Informatics Engineering
and research's language is
English
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Blockchain is increasingly being used to provide a distributed, secure, trusted, and private framework for energy trading in smart grids. However, existing solutions suffer from lack of privacy, processing and packet overheads, and reliance on Trusted Third Parties (TTP). To address these challenges, we propose a Secure Private Blockchain-based (SPB) framework. SPB enables the energy producers and consumers to directly negotiate the energy price. To reduce the associated packet overhead, we propose a routing method which routes packets based on the destination Public Key (PK). SPB eliminates the need for TTP by introducing atomic meta-transactions. The two transactions that form a meta-transaction are visible to the blockchain participants only after both of them are generated. Thus, if one of the participants does not commit to its tasks in a pre-defined time, then the energy trade expires and the corresponding transaction is treated as invalid. The smart meter of the consumer confirms receipt of energy by generating an Energy Receipt Confirmation (ERC). To verify that the ERC is generated by a genuine smart meter, SPB supports authentication of anonymous smart meters which in turn enhances the privacy of the meter owner. Qualitative security analysis shows the resilience of SPB against a range of attacks.
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Blockchain is increasingly being used as a distributed, anonymous, trustless framework for energy trading in smart grids. However, most of the existing solutions suffer from reliance on Trusted Third Parties (TTP), lack of privacy, and traffic and processing overheads. In our previous work, we have proposed a Secure Private Blockchain-based framework (SPB) for energy trading to address the aforementioned challenges. In this paper, we present a proof-on-concept implementation of SPB on the Ethereum private network to demonstrates SPBs applicability for energy trading. We benchmark SPBs performance against the relevant state-of-the-art. The implementation results demonstrate that SPB incurs lower overheads and monetary cost for end users to trade energy compared to existing solutions.
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