A Blockchain-Enabled Secure Power Trading Mechanism for Smart Grid Employing Wireless Networks

The rapid growth of renewable energy has increased the requirements of the smart grid for communication and processing capabilities. As an effective solution to collect and manage information, the wireless network can improve the efficiency of renewable energy management. But due to the wireless dat...

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Bibliographic Details
Published inIEEE access Vol. 8; pp. 177745 - 177756
Main Authors Liu, Ziming, Wang, Dazhi, Wang, Jiaxing, Wang, Xinghua, Li, Hao
Format Journal Article
LanguageEnglish
Published Piscataway IEEE 2020
The Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subjects
Blockchain
Contracts
Cryptography
Data transmission
Design modifications
Electricity consumption
Energy
Energy consumption
Energy management
Information management
Power consumption
Power markets
power trading mechanism
Renewable energy
Renewable energy sources
Renewable resources
security
Smart grid
Smart grids
Wireless network
Wireless networks
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Summary:The rapid growth of renewable energy has increased the requirements of the smart grid for communication and processing capabilities. As an effective solution to collect and manage information, the wireless network can improve the efficiency of renewable energy management. But due to the wireless data transmission risk and centralized power trading, the smart grid employing wireless networks cannot guarantee the security of the electricity market and the high consumption of renewable energy. Recently, as an emerging data-sharing technology, the blockchain has attracted widespread attention and is considered to have the potential to solve above problems. In this paper, we propose a blockchain-enabled secure power trading mechanism for the smart grid employing wireless networks. The blockchain is introduced to record power data collected by the wireless network, and the smart contract can make reasonable trading decisions based on this. The dual-chain structure composed of local energy trading blockchain and renewable energy trading blockchain improves the efficiency of power trading and renewable energy consumption. To strengthen the stability of renewable energy producers and expand their scale, we also design a blockchain-enabled renewable energy incentive mechanism. Finally, the modified Southern California Edison 56 bus test feeder model validated our mechanism.
ISSN:2169-3536
2169-3536
DOI:10.1109/ACCESS.2020.3027192