Blockchain based energy trading scheme for vehicle-to-vehicle using decentralized identifiers

Myeonghyun Kim, Joonyoung Lee, Jihyeon Oh, Kisung Park, Youngho Park and Kilhoum Park

Applied Energy, 2022, vol. 322, issue C, No S0306261922007723

Abstract: A blockchain-based energy trading system is a new paradigm of grid infrastructure, which allows that energy purchaser and seller can efficiently exchange the energy through two-way communication. However, because energy trading services are provided through public networks, these systems are vulnerable to potential security breaches. This paper proposed a privacy-preserving blockchain-based energy trading scheme for vehicle-to-vehicle to resolve the security issues of contemporary systems and provide secure energy trading services. The proposed scheme has high efficiency by applying decentralized identifiers and verifiable credentials technologies because the records of energy trading are not stored on blockchain and blockchain is only utilized in the validation of users. After completing the energy trading, the vehicle issues a verifiable credential to the counterpart to prove the legitimacy of the transaction. We also perform informal and formal security analysis to demonstrate its security and achieve secure mutual authentication, confidentiality, and session key security. Furthermore, we implement AVISPA simulation to show that our scheme is resistant to man-in-the-middle and replay attacks. As a result, the proposed scheme can be used in distributed smart grid environments.

Keywords: Energy trading; Decentralized identifier; Blockchain; Verifiable credential (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (5)

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DOI: 10.1016/j.apenergy.2022.119445

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