Compensation for Power Loss by a Proof-of-Stake Consortium Blockchain Microgrid

被引:52
|
作者
Yang, Jiawei [1 ]
Paudel, Amrit [1 ]
Gooi, Hoay Beng [1 ]
机构
[1] Nanyang Technol Univ, Sch Elect & Elect Engn, Singapore 639798, Singapore
关键词
Blockchain; Microgrids; Cryptography; Pricing; Peer-to-peer computing; Smart contracts; Consortium blockchain; peer-to-peer (P2P) energy trading; power loss; pricing scheme; proof-of-stake (PoS); ALLOCATION; FRAMEWORK;
D O I
10.1109/TII.2020.3007657
中图分类号
TP [自动化技术、计算机技术];
学科分类号
0812 ;
摘要
Distributed generation in the microgrid becomes increasingly significant, as it eliminates the power losses from long-distance electricity transmission lines. Distributed energy resources owners who can both produce and consume energy are defined as prosumers. To encourage the peer-to-peer (P2P) energy trading between prosumers, blockchain as a thriving technology is utilized in the P2P network due to its transparency, security, and rapidity in executing transactions. Due to its decentralized quality, any intermediaries are eliminated so that transactions happen directly among traders. This article introduces a consortium blockchain trading model to support P2P energy trading, using a proof-of-stake protocol. The pre-selected miners are responsible for compensating the power losses in distribution lines by energy transactions. The specific process of the blockchain establishment, as well as the smart contract creation, are demonstrated. In addition, a type of crypto-currency named "elecoin" is created in the P2P market, which is published by the mining mechanism of the blockchain. Finally, a case study is introduced to realise the functions of the proposed blockchain model. Simulation results show the feasibility and effectiveness of the proposed approach.
引用
收藏
页码:3253 / 3262
页数:10
相关论文
共 50 条
  • [21] Anonymous Lottery In The Proof-of-Stake Setting
    Baldimtsi, Foteini
    Madathil, Varun
    Scafuro, Alessandra
    Zhou, Linfeng
    2020 IEEE 33RD COMPUTER SECURITY FOUNDATIONS SYMPOSIUM (CSF 2020), 2020, : 318 - 333
  • [22] Poster: A Proof-of-Stake (PoS) Blockchain Protocol using Fair and Dynamic Sharding Management
    Lee, Daehwa Rayer
    Jang, Yunhee
    Kim, Hyoungshick
    PROCEEDINGS OF THE 2019 ACM SIGSAC CONFERENCE ON COMPUTER AND COMMUNICATIONS SECURITY (CCS'19), 2019, : 2553 - 2555
  • [23] Compounding of Wealth in Proof-of-Stake Cryptocurrencies
    Fanti, Giulia
    Kogan, Leonid
    Oh, Sewoong
    Ruan, Kathleen
    Viswanath, Pramod
    Wang, Gerui
    FINANCIAL CRYPTOGRAPHY AND DATA SECURITY, FC 2019, 2019, 11598 : 42 - 61
  • [24] Coin concentration of Proof-of-Stake blockchains
    Irresberger, Felix
    Yang, Ruomei
    ECONOMICS LETTERS, 2023, 229
  • [25] Transition to proof-of-stake and informed trading
    Choi, Hyung-Eun
    FINANCE RESEARCH LETTERS, 2025, 72
  • [26] Crisis of Trust: Analyzing the Verifier's Dilemma in hthereum's Proof-of-Stake Blockchain
    Smuseva, Dada
    Malakhov, Ivan
    Marm, Andrea
    Rossi, Sabina
    2023 IEEE INTERNATIONAL CONFERENCE ON BLOCKCHAIN, BLOCKCHAIN, 2023, : 332 - 339
  • [27] Ouroboros Praos: An Adaptively-Secure, Semi-synchronous Proof-of-Stake Blockchain
    David, Bernardo
    Gazi, Peter
    Kiayias, Aggelos
    Russell, Alexander
    ADVANCES IN CRYPTOLOGY - EUROCRYPT 2018, PT II, 2018, 10821 : 66 - 98
  • [28] Sharding-Based Proof-of-Stake Blockchain Protocols: Key Components & Probabilistic Security Analysis
    Hafid, Abdelatif
    Hafid, Abdelhakim Senhaji
    Makrakis, Dimitrios
    SENSORS, 2023, 23 (05)
  • [29] An Improved Scheme of proof-of-stake Consensus Mechanism
    Cheng Yuan
    Hu Xiaohui
    Zhang Jianguo
    2019 4TH INTERNATIONAL CONFERENCE ON MECHANICAL, CONTROL AND COMPUTER ENGINEERING (ICMCCE 2019), 2019, : 826 - 829
  • [30] Balancing Participation and Decentralization in Proof-of-Stake Cryptocurrencies
    Kiayias, Aggelos
    Koutsoupias, Elias
    Marmolejo-Cossio, Francisco
    Stouka, Aikaterini-Panagiota
    ALGORITHMIC GAME THEORY, SAGT 2024, 2024, 15156 : 333 - 350