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Register a new userCyberphysical Blockchain-Enabled Peer-to-Peer Energy Trading
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Added by
Faizan Safdar Ali
Publication date
2020
fields
Informatics Engineering
and research's language is
English
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Scalability and security problems of the centralized architecture models in cyberphysical systems have great potential to be solved by novel blockchain based distributed models.A decentralized energy trading system takes advantage of various sources and effectively coordinates the energy to ensure optimal utilization of the available resources. It achieves that goal by managing physical, social and business infrastructures using technologies such as Internet of Things (IoT), cloud computing and network systems. Addressing the importance of blockchain-enabled energy trading in the context of cyberphysical systems, this article provides a thorough overview of the P2P energy trading and the utilization of blockchain to enhance the efficiency and the overall performance including the degree of decentralization, scalability and the security of the systems. Three blockchain based energy trading models have been proposed to overcome the technical challenges and market barriers for better adoption of this disruptive technology.
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This paper studies social cooperation backed peer-to-peer energy trading technique by which prosumers can decide how they can use their batteries opportunistically for participating in the peer-to-peer trading. The objective is to achieve a solution in which the ultimate beneficiaries are the prosumers, i.e., a prosumer-centric solution. To do so, a coalition formation game is designed, which enables a prosumer to compare its benefit of participating in the peer-to-peer trading with and without using its battery and thus, allows the prosumer to form suitable social coalition groups with other similar prosumers in the network for conducting peer-to-peer trading. The properties of the formed coalitions are studied, and it is shown that 1) the coalition structure that stems from the social cooperation between participating prosumers at each time slot is both stable and optimal, and 2) the outcomes of the proposed peer- to-peer trading scheme is prosumer-centric. Case studies are conducted based on real household energy usage and solar generation data to highlight how the proposed scheme can benefit prosumers through exhibiting prosumer-centric properties.
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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.
Efforts to efficiently promote the participation of distributed energy resources in community microgrids require new approaches to energy markets and transactions in power systems. In this paper, we contribute to the promising approach of peer-to-peer (P2P) energy trading. We first formalize a centralized welfare maximization model of an economic dispatch with perfect information based on the value of consumption with zero marginal-cost energy. We characterize the optimal solution and corresponding price to serve as a reference for P2P approaches and show that the profit-maximizing strategy for individuals with storage in response to an optimal price is not unique. Second, we develop a novel P2P algorithm for negotiating energy trades based on iterative price and quantity offers that yields physically feasible and at least weakly Pareto-optimal outcomes. We prove that the P2P algorithm converges to the centralized solution in the case of two agents negotiating for a single period, demonstrate convergence for the multi-agent, multi-period case through a large set of random simulations, and analyze the effects of storage penetration on the solution.
Peer-to-peer (p2p) content delivery is promising to provide benefits like cost-saving and scalable peak-demand handling in comparison with conventional content delivery networks (CDNs) and complement the decentralized storage networks such as Filecoin. However, reliable p2p delivery requires proper enforcement of delivery fairness, i.e., the deliverers should be rewarded according to their in-time delivery. Unfortunately, most existing studies on delivery fairness are based on non-cooperative game-theoretic assumptions that are arguably unrealistic in the ad-hoc p2p setting. We for the first time put forth the expressive yet still minimalist securities for p2p content delivery, and give two efficient solutions FairDownload and FairStream via the blockchain for p2p downloading and p2p streaming scenarios, respectively. Our designs not only guarantee delivery fairness to ensure deliverers be paid (nearly) proportional to his in-time delivery, but also ensure the content consumers and content providers to be fairly treated. The fairness of each party can be guaranteed when the other two parties collude to arbitrarily misbehave. Moreover, the systems are efficient in the sense of attaining asymptotically optimal on-chain costs and optimal deliverer communication. We implement the protocols to build the prototype systems atop the Ethereum Ropsten network. Extensive experiments done in LAN and WAN settings showcase their high practicality.
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