Loading...

Media is loading
 

Paper Type

Complete

Paper Number

1203

Description

Blockchain-based peer-to-peer (P2P) ecosystem is well suited for distributed energy trading as it is inherently decentralised. In a distributed energy trading, an auctioneer passes unspent reservations to the next auctioneer, as dictated by the passing mechanism. However, traditional P2P energy trading systems used passing mechanisms that only partially consider the auction capability of the next auctioneer. We propose iPass, which incorporates price information when passing unspent auction reservations in P2P energy trading environment. The three performance metrics applied to measure the trading efficiency are (a) auction convergence time, (b) the number of auction settlements, and (c) the economic surplus of buyers and sellers. We simulated the proposed mechanism in Hyperledger Fabric, a permissioned blockchain framework. Hyperledger Fabric manages the data storage and smart contracts. Experiments show iPass is more efficient compared to existing passing mechanisms.

Comments

SIG SAND

Share

COinS
 
Aug 10th, 12:00 AM

Incorporating Price Information in Blockchain-based Energy Trading

Blockchain-based peer-to-peer (P2P) ecosystem is well suited for distributed energy trading as it is inherently decentralised. In a distributed energy trading, an auctioneer passes unspent reservations to the next auctioneer, as dictated by the passing mechanism. However, traditional P2P energy trading systems used passing mechanisms that only partially consider the auction capability of the next auctioneer. We propose iPass, which incorporates price information when passing unspent auction reservations in P2P energy trading environment. The three performance metrics applied to measure the trading efficiency are (a) auction convergence time, (b) the number of auction settlements, and (c) the economic surplus of buyers and sellers. We simulated the proposed mechanism in Hyperledger Fabric, a permissioned blockchain framework. Hyperledger Fabric manages the data storage and smart contracts. Experiments show iPass is more efficient compared to existing passing mechanisms.

When commenting on articles, please be friendly, welcoming, respectful and abide by the AIS eLibrary Discussion Thread Code of Conduct posted here.