A Decentralized Identity Based Energy Trading System over a Blockchain Network

Jia Guo, Wei Yu,Songpu Ai,Junwei Cao

2023 IEEE International Conference on Energy Internet (ICEI)(2023)

Cited 0|Views3
No score
Abstract
In the field of the energy internet, the consumption of distributed power generation for renewable energy is increasing steadily. Considering either the energy security or the transportation loss, the locally generated power would be the first choice. More frequent and more accurate peer-to-peer distributed energy transactions with complicated quality requirements are a significant challenge for current power trading systems. It would be risky and unnecessary to design and operate a centralized trading system to deal with all local transactions on the entire grid. At the same time, the system also needs vital capabilities like supervision and regulations. In this paper, a decentralized identity based energy trading system is proposed over a blockchain network and the distributed identifier (DID) is adopted to identify different energy entities and participants. The verifiable presentation (VP) is adopted by the system to simplify the detection and supervision process of the participants and to minimize information leakage during the transaction lifecycle. On the blockchain network as a highly trusted universal data registry, the entire workflow of energy trading is immutable and traceable. Simulation results show that the energy trading system could operate well.
More
Translated text
Key words
energy internet,DID,VP,blockchain,energy trading,microgrid
AI Read Science
Must-Reading Tree
Example
Generate MRT to find the research sequence of this paper
Chat Paper
Summary is being generated by the instructions you defined