Abstract
Transactive Energy Markets (TEM) have the potential to reduce wasted energy, increase the utilisation of renewable energy resources and enable independence in the energy sector. Blockchain has been utilised in TEMs in the literature aiming to acquire transparency, security and trustless operations. Though public blockhain enables leveraged transparency and fairness, the majority of proposals suggest adoption of private or consortium blockchains mainly due to performance concerns. In this paper, we created a TEM environment where consumers, prosumers and suppliers bid for price agreement upon a game theory model and then deployed it on localised Ethereum blockchain infrastructure. To compare the performance, we created a centralized TEM environment keeping all the settings the same. The obtained results show that public blockchains may be adaptable to TEMs to enhance system transparency and fairness as well as automated and trustless transactions. Conducted test results show that our proposal exhibit a similar scalability trend as the referenced centralized system.
| Original language | English |
|---|---|
| Title of host publication | 2023 IEEE 9th World Forum on Internet of Things (WF-IoT) |
| Publisher | Institute of Electrical and Electronics Engineers (IEEE) |
| Number of pages | 6 |
| ISBN (Electronic) | 9798350311617 |
| ISBN (Print) | 9798350311624 |
| DOIs | |
| Publication status | Published - 30 May 2024 |
| Event | IEEE 9th World Forum on Internet of Things - Aveiro Congress Center, Aveiro, Portugal Duration: 12 Oct 2023 → 27 Oct 2023 https://wfiot2023.iot.ieee.org/ |
Publication series
| Name | IEEE World Forum on Internet of Things (WF-IoT) |
|---|---|
| ISSN (Print) | 2769-4003 |
| ISSN (Electronic) | 2768-1734 |
Conference
| Conference | IEEE 9th World Forum on Internet of Things |
|---|---|
| Abbreviated title | WFIoT 2023 |
| Country/Territory | Portugal |
| City | Aveiro |
| Period | 12/10/23 → 27/10/23 |
| Other | The 9th IEEE World Forum on Internet of Things (IEEE WFIoT2023) is the premier event of the IEEE IoT Technical Community, a multiple Society initiative aggregating the wide expertise inherent to the IoT domain. |
| Internet address |
Bibliographical note
Publisher Copyright:© 2023 IEEE.
Keywords
- Blockchain
- Smart Contracts
- Smart Grid
- transactive energy
Access to Document
- Full-text PDF (accepted author manuscript)
This is the accepted author manuscript (AAM). The final published version (Version of Record) can be found on the publisher's website. The copyright of any third-party content, such as images, remains with the copyright holder.