Title: A blockchain-based efficient data storage and sharing scheme for renewable energy trading in smart grid

Authors: Md. Tayeen Khan; Md. Nozib Ud Dowla; Fardin Ahmed Niloy

Addresses: Department of Electrical and Electronic Engineering, United International University, Dhaka, Bangladesh ' Department of Computer Science and Engineering, American International University-Bangladesh, Dhaka, Bangladesh ' Department of Computer Science and Engineering, American International University-Bangladesh, Dhaka, Bangladesh

Abstract: The popularity of renewable energy is increasing due to its cost effectiveness. However, not everyone can generate and fulfill their energy demand, so energy trading is necessary. Current solutions are centralised and charged at a high fee for energy trading as they have a monopoly in the market. Energy trading requires the storage, verification, and sharing of data related to the trade while keeping records tamper-proof. Traditional database solutions are centralised and susceptible to data tempering. In our proposed scheme, we aim to solve those problems with the help of blockchain technology by storing data on blockchain and verifying transactions with the PoA consensus algorithm for faster processing. We tested our scheme against the Ethereum network and found that our scheme has a significant improvement in cost and processing. In the future, with the help of machine learning, pricing for each transaction can be optimised.

Keywords: blockchain; renewable energy trading; interplanetary file system; proof of authority; PoA; smart grid.

DOI: 10.1504/IJBC.2022.126295

International Journal of Blockchains and Cryptocurrencies, 2022 Vol.3 No.3, pp.222 - 234

Received: 28 Nov 2021
Accepted: 12 Jun 2022
Published online: 18 Oct 2022 *

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