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2019 | OriginalPaper | Buchkapitel

A Block-Free Distributed Ledger for P2P Energy Trading: Case with IOTA?

verfasst von : Joon Park, Ruzanna Chitchyan, Anastasia Angelopoulou, Jordan Murkin

Erschienen in: Advanced Information Systems Engineering

Verlag: Springer International Publishing

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Abstract

Across the world, the organisation and operation of the electricity markets is quickly changing, moving towards decentralised, distributed, renewables-based generation with real-time data exchange-based solutions. In order to support this change, blockchain-based distributed ledgers have been proposed for implementation of peer-to-peer energy trading platform. However, blockchain solutions suffer from scalability problems as well as from delays in transaction confirmation. This paper explores the feasibility of using IOTA’s DAG-based block-free distributed ledger for implementation of energy trading platforms. Our agent-based simulation research demonstrates that an IOTA-like DAG-based solution could overcome the constraints that blockchains face in the energy market. However, to be usable for peer-to-peer energy trading, even DAG-based platforms need to consider specificities of energy trading markets (such as structured trading periods and assured confirmation of transactions for every completed period).

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Fußnoten
1
Currently in the UK the excess generation must be sold back to the utility provider at a set rate (the so called “feed in tariff” set by the UK government). However, for many types of household generation this scheme will cease as of March 31 2019.
 
2
Please note: each locality remains interconnected with the grid, the energy costs will still include grid connection and maintenance charges. This is because the households wish to be insured against the intermittency of the renewables-based generation, and the grid provides such insurance and balancing services.
 
3
Note: in case of the energy sector such a coordinator may be acceptable, if run by the energy regulator providing governance to the system.
 
4
The details of the matching algorithm are not the focus of this study. The base algorithm is given in [23], though this study uses an extended version.
 
6
While this study considers buy/sell requests published at period (t) for period (t+1), further periods (e.g., t+10, as different markets) can also be studied with this model.
 
7
Specific implementations of the trading algorithms could vary the transaction release rate. For instance, when the ranked order algorithm is applied in trade matching, the matching is carried out in several cycles, and trades are agreed and released into the ledger in groups [23]. In this case, the following discussion relates to a single group release.
 
8
As we focus on the shape of the ledger not transaction content, figure readability is not strictly necessary. Yet, if need be, the figures can be accessed via: https://​jmp.​sh/​WNkIbZp.
 
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Metadaten
Titel
A Block-Free Distributed Ledger for P2P Energy Trading: Case with IOTA?
verfasst von
Joon Park
Ruzanna Chitchyan
Anastasia Angelopoulou
Jordan Murkin
Copyright-Jahr
2019
DOI
https://doi.org/10.1007/978-3-030-21290-2_8