Review of Secure Energy Trading Using Blockchain

Abstract

In Industrial Internet of Things (IIoT), Peer-to-Peer (P2P) energy trading ubiquitously takes place in various scenarios, e.g., microgrids, energy harvesting networks, and vehicle-to-grid networks. However, there are common security and privacy challenges caused by untrusted and nontransparent energy markets in these scenarios. We are using consortium blockchain technology to address security issues to propose a secure energy trading system known energy blockchain. This energy blockchain can be widely used to get rid of a trusted intermediary in general scenarios of P2P commodities trading. Besides, to reduce the transaction limitation resulted from transaction confirmation delays on the energy blockchain; we are introducing a credit-based payment scheme to enable fast and regular energy trading. An optimal pricing strategy using Stackelberg gam for credit-based loans is also proposed. In this, basically we are focusing on solar system. To overcome the security challenges, we use the consortium blockchain technology to deliver a safe energy trading system called energy blockchain. This power ledger can be commonly used in general P2P energy trading situations to get rid of a trustworthy intermediary.