Blockchain and Double Auction-Based Trustful EVs Energy Trading Scheme for Optimum Pricing

Riya Kakkar, Rajesh Gupta, Smita Agrawal, Pronaya Bhattacharya, Sudeep Tanwar, Maria Simona Raboaca, Fayez Alqahtani and Amr Tolba
Additional contact information
Riya Kakkar: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Rajesh Gupta: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Smita Agrawal: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Pronaya Bhattacharya: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Sudeep Tanwar: Department of Computer Science and Engineering, Institute of Technology, Nirma University, Ahmedabad 382481, Gujarat, India
Maria Simona Raboaca: National Research and Development Institute for Cryogenic and Isotopic Technologies—ICSI Rm. Valcea, Uzinei Street, No. 4, P.O. Box 7 Raureni, 240050 Râmnicu Valcea, Romania
Fayez Alqahtani: Software Engineering Department, College of Computer and Information Sciences, King Saud University, Riyadh 12372, Saudi Arabia
Amr Tolba: Computer Science Department, Community College, King Saud University, Riyadh 11437, Saudi Arabia

Mathematics, 2022, vol. 10, issue 15, 1-24

Abstract: Electric vehicles (EVs) have gained prominence in smart transportation due to their unparalleled benefits of reduced carbon footprints, improved performance, and intelligent energy trading mechanisms. These potential benefits have increased EV adoption at massive scales, but energy management in EVs is a critical study problem. The problem is further intensified due to the scarcity of charging stations (CSs) in near EV proximity. Moreover, as energy transactions occur over open channels, it presents critical security, privacy, and trust issues among decentralized channels. To address the open limitations of trusted energy management and optimize the pricing control among EV entities (i.e., prosumers and consumers), the paper proposes a scheme that integrates blockchain and a truthful double auction strategy for trustful EV trading. To address the transaction scalability, we integrate an Interplanetary File System (IPFS) with a double auction mechanism handled through the Remix Smart Contract environment. The double auction leverages an optimal payoff condition between peer EVs. To address the communication latency, we present the scheme at the backdrop of Fifth Generation (5G) networks that minimizes the optimal payoff response time. The scheme is simulated against parameters such as convergence, profit for consumers, computation time, and blockchain analysis regarding node commit latency, collusion attacks, and EV energy consumption. The results indicate the scheme’s viability against traditional (non-blockchain) approaches with high reliability, scalability, and improved cost-efficiency.

Keywords: blockchain; electric vehicles; IPFS; truthful double auction (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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