Real-Time Bidding Model of Cryptocurrency Energy Trading Platform

Yue Wu, Junxiang Li and Jin Gao
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Yue Wu: Business School, University of Shanghai for Science and Technology, Shanghai 200093, China
Junxiang Li: Business School, University of Shanghai for Science and Technology, Shanghai 200093, China
Jin Gao: Business School, University of Shanghai for Science and Technology, Shanghai 200093, China

Energies, 2021, vol. 14, issue 21, 1-14

Abstract: Blockchain technology provides a comprehensive solution to user access and energy trading for distributed energy Internet. Achieving market-based pricing, increasing the earnings of energy suppliers, attracting foreign capital and facilitating the upgrade of solar and wind energy are pressing issues. Drawing on the practices of centralised exchanges and blockchain cryptocurrency, the author designed the Cryptocurrency Energy Trading Platform (CETP), dividing the permissioned blockchain into the Energy Blockchain Platform (EBP) and the Energy Cryptocurrency Exchange (ECE). The frequently used real-time bidding scenario and the seldom-used power-using scenario are separated from each other. A market welfare model for real-time bidding is established and verified. With Energy Blockchain Cryptocurrency (EBC) as the trading medium, the platform allows external bidders to get involved in the bidding and transactions, which not only attracts the social capital to be used in the development of energy Internet but also helps stabilise the energy market prices, thus, advancing the energy Internet.

Keywords: blockchain; cryptocurrency; energy trading; real-time pricing (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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