A secure distributed ledger for transactive energy: The Electron Volt Exchange (EVE) blockchain

Shammya Saha, Nikhil Ravi, Kári Hreinsson, Jaejong Baek, Anna Scaglione and Nathan G. Johnson

Applied Energy, 2021, vol. 282, issue PA, No S0306261920316044

Abstract: The adoption of blockchain for Transactive Energy has gained significant momentum as it allows mutually non-trusting agents to trade energy services in a trustless energy market. Research to date has assumed that the built-in Byzantine Fault Tolerance in recording transactions in a ledger is sufficient to ensure integrity. Such work must be extended to address security gaps including random bilateral transactions that do not guarantee reliable and efficient market operation, and market participants having incentives to cheat when reporting actual production/consumption figures. Work herein introduces the Electron Volt Exchange framework with the following characteristics: (1) a distributed protocol for pricing and scheduling prosumers’ production/consumption while keeping constraints and bids private, and (2) a distributed algorithm to prevent theft that verifies prosumers’ compliance to scheduled transactions using information from grid sensors (such as smart meters) and mitigates the impact of false data injection attacks. Flexibility and robustness of the approach are demonstrated through simulation and implementation using Hyperledger Fabric.

Keywords: Blockchain; Cyber–physical system; Cyber-security; Distribution system; Hyperledger fabric; Transactive energy (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (4)

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DOI: 10.1016/j.apenergy.2020.116208

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