Distributed Energy Trading Network: Decentralized and Secured

Abstract

This paper tries to build a system, providing maximum participation and maximum resiliency for the existing power system using existing technologies only but in an innovative approach. The proposed ecosystem consists of distributed power generation nodes, consumers, smart grids, and microgrids to make peer-to-peer energy transactions easy, both physically and economically. The proposal can be divided into two parts, viz. physical and digital. A user cannot send power to another customer in need with few exceptions in a traditional system. This work has shown how each user can be connected to the smart grid via one or many micro-grids. Moreover, their trade will be automated on the digital side by Ethereum, a public blockchain that supports smart contracts. To make things more efficient and easy, we introduced a token-based economy, empowered by a smart contract. In this way, the resiliency of the whole ecosystem will be improved dramatically.