Ethereum Blockchain-Based Peer-To-Peer Energy Trading Platform

Abstract

Blockchain is one of the emerging security technologies that have enormous potential in diverse sectors such as financial organization, academic institutions, national government, business sphere. In this paper, we focus on the application of blockchain systems in the energy industry addressing potential challenges and limitations in this area. The deployment of the proliferation of distributed energy resources requires an efficient and reliable transactive energy (TE) management system in terms of peer-to-peer energy trading. Independence of the energy management system from financial transactions can cause an insecure and vulnerable energy exchange environment. The proposed system design focuses on eliminating gaps in the security by the integration of decentralized application technology with the TE management and Multi-Agent System. The paper discusses the Ethereum blockchain-based peer-to-peer energy trading platform based on the enforced smart contract that controls both financial transactions and energy interchange operations for power trading systems.