A Blockchain and PKI-Based Secure Vehicle-to-Vehicle Energy-Trading Protocol

Md Sahabul Hossain, Craig Rodine and Eirini Eleni Tsiropoulou ()
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Md Sahabul Hossain: Department of Electrical and Computer Engineering, University of New Mexico, Albuquerque, NM 87131, USA
Craig Rodine: Sandia National Laboratories, Albuquerque, NM 87185, USA
Eirini Eleni Tsiropoulou: Department of Electrical and Computer Engineering, University of New Mexico, Albuquerque, NM 87131, USA

Energies, 2024, vol. 17, issue 17, 1-52

Abstract: With the increasing awareness for sustainable future and green energy, the demand for electric vehicles (EVs) is growing rapidly, thus placing immense pressure on the energy grid. To alleviate this, local trading between EVs should be encouraged. In this paper, we propose a blockchain and public key infrastructure (PKI)-based secure vehicle-to-vehicle (V2V) energy-trading protocol. A permissioned blockchain utilizing the proof of authority (PoA) consensus and smart contracts is used to securely store data. Encrypted communication is ensured through transport layer security (TLS), with PKI managing the necessary digital certificates and keys. A multi-leader, multi-follower Stackelberg game-based trade algorithm is formulated to determine the optimal energy demands, supplies, and prices. Finally, we propose a detailed communication protocol that ties all the components together, enabling smooth interaction between them. Key findings, such as system behavior and performance, scalability of the trade algorithm and the blockchain, smart contract execution costs, etc., are presented through numerical results by implementing and simulating the protocol in various scenarios. This work not only enhances local energy trading among EVs, encouraging efficient energy usage and reducing burden on the power grid, but also paves a way for future research in sustainable energy management.

Keywords: electric vehicle charging; energy trading; blockchain; vehicle-to-vehicle; secure charging protocol; Stackelberg game (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: 2024
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