International Conference on Computer and Knowledge Engineering

Home / 12th International Conference on Computer and Knowledge Engineering

Designing a High Perfomance and High Profit P2P Energy Trading System Using a Consortium Blockchain Network

Authors :

Poonia Taheri Makhsoos¹ Behnam Bahrak² Fattaneh Taghiyareh³

1- University of Tehran 2- University of Tehran 3- University of Tehran

Keywords :

Renewable energy system،Decentralized Energy Trading،Consortium Blockchain،Consensus algorithms،Pricing strategy،Nash Equilibrium

Abstract :

Renewable energy generating systems can be used to supply some or all of electricity needs, using technologies like solar, wind or micro hydropower systems. Trading of this kind of decentralized energy is important to owners of these local systems. Regional p2p energy trading systems provide a solution for this issue. Due to expanding the concept of decentralization and blockchain-based trading models, some studies in recent years propose such models for local surplus energy trading. In this paper, we propose a distributed energy-trading framework based on a consortium blockchain for p2p energy trading energy of renewable energy systems. Our proposed model uses Jointgraph, a novel Byzantine fault-tolerance consensus algorithm and a DAG-based consortium energy blockchain framework, which highly improves the performance of the trading model. Furthermore, we use Belief Distorted Nash Equilibrium (BDNE) for pricing strategy to increase the profitability of the system for both buyers and sellers. The implemented simulation, confirm that the proposed framework outperforms similar p2p trading models in terms of both performance and profitability and can be used in real local energy trading systems.