A Block-Free Distributed Ledger for P2P Energy Trading: Case with IOTA?

Joon Park, Ruzanna Chitchyan, Anastasia Angelopoulou, Jordan Murkin

Research output: Chapter in Book/Report/Conference proceedingConference Contribution (Conference Proceeding)

4 Citations (Scopus)
151 Downloads (Pure)

Abstract

Across the world, the organisation and operation of the electricity markets is quickly changing, moving towards decentralised, distributed, renewables-based generation with real-time data exchange-based solutions. In order to support this change, blockchain-based distributed ledgers have been proposed for implementation of peer-to-peer energy trading platform. However, blockchain solutions suffer from scalability problems as well as from delays in transaction confirmation. This paper explores the feasibility of using IOTA’s DAG-based block-free distributed ledger for implementation of energy trading platforms. Our agent-based simulation research demonstrates that an IOTA-like DAG-based solution could overcome the constraints that blockchains face in the energy mar- ket. However, to be usable for peer-to-peer energy trading, even DAG- based platforms need to consider specificities of energy trading markets (such as structured trading periods and assured confirmation of transactions for every completed period).
Original languageEnglish
Title of host publicationAdvanced Information Systems Engineering
Subtitle of host publication31st International Conference, CAiSE 2019, Rome, Italy, June 3–7, 2019, Proceedings
EditorsPaolo Giorgini, Barbara Weber
PublisherSpringer, Cham
Pages111-125
Number of pages15
ISBN (Electronic)9783030212902
ISBN (Print)9783030212896
DOIs
Publication statusPublished - 29 May 2019
EventInternational Conference on Advanced Information Systems Engineering - Sapienza Università di Roma, Rome, Italy
Duration: 3 Jun 20197 Jun 2019
Conference number: 31
https://www.caise19.it/

Publication series

NameLecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)
Volume11483 LNCS
ISSN (Print)0302-9743
ISSN (Electronic)1611-3349

Conference

ConferenceInternational Conference on Advanced Information Systems Engineering
Abbreviated titleCAiSE
CountryItaly
CityRome
Period3/06/197/06/19
Internet address

Structured keywords

  • Cabot Institute Low Carbon Energy Research
  • peer to peer energy trading
  • block-free distributed ledger
  • IOTA
  • agent-based simulation

Keywords

  • blockchain
  • agent-based simulation
  • IOTA
  • block-free ledger
  • DAGbased distributed ledger
  • peer to peer energy trading platform

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  • Peer-to-Peer Energy Markets: Understanding the Values of Collective and Community Trading

    Wilkins, D. J., Chitchyan, R. & Levine, M., 21 Apr 2020, CHI 2020 - Proceedings of the 2020 CHI Conference on Human Factors in Computing Systems: Proceedings of the 2020 CHI Conference on Human Factors in Computing Systems. New York, NY, USA: Association for Computing Machinery (ACM), p. 1-14 14 p. 3376135. (Conference on Human Factors in Computing Systems - Proceedings).

    Research output: Chapter in Book/Report/Conference proceedingConference Contribution (Conference Proceeding)

    Open Access
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    8 Citations (Scopus)
    110 Downloads (Pure)

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