Design of a Secure Energy Trading Model Based on a Blockchain

Hoon Ko and Isabel Praça
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Hoon Ko: Instituto Superior de Engenharia do Porto (ISEP)/Polytechnic of Porto (IPP), R. Dr. Antonio Bernardino de Almeida, 431, 4249-015 Porto, Portugal
Isabel Praça: Instituto Superior de Engenharia do Porto (ISEP)/Polytechnic of Porto (IPP), R. Dr. Antonio Bernardino de Almeida, 431, 4249-015 Porto, Portugal

Sustainability, 2021, vol. 13, issue 4, 1-11

Abstract: This study proposes a Secure Energy Trading Model design based on a Blockchain is an attempt to overcome the weak security and instability of the current energy trading system. The focal point of the design lies in the user-security features of the model, such as user authentication and identification, and the blockchain that every transaction goes through. The user-security feature provides a safer system for peer-to-peer energy trade, and the blockchain technology ensures the reliability of the trading system. Furthermore, the Secure Energy Trading Model supports a decentralized data control mechanism as a future measure for handling vast amounts of data created by IoT.

Keywords: blockchain; peer-to-peer energy trade system; energy consumer; transaction (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
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