Skip to main content

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

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

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).

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Springer Professional "Technik"

Online-Abonnement

Mit Springer Professional "Technik" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 390 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Maschinenbau + Werkstoffe




 

Jetzt Wissensvorsprung sichern!

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

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.
 
Literatur
1.
Zurück zum Zitat Zhang, C., Wu, J., Long, C., Cheng, M.: Review of existing peer-to-peer energy trading projects. Energy Procedia 105, 2563–2568 (2017)CrossRef Zhang, C., Wu, J., Long, C., Cheng, M.: Review of existing peer-to-peer energy trading projects. Energy Procedia 105, 2563–2568 (2017)CrossRef
3.
Zurück zum Zitat Burger, C., Kuhlmann, A., Richard, P., Weinmann, J.: Blockchain in the energy transition a survey among decision makers in the German energy industry (2016) Burger, C., Kuhlmann, A., Richard, P., Weinmann, J.: Blockchain in the energy transition a survey among decision makers in the German energy industry (2016)
5.
Zurück zum Zitat Stojkoska, B.L.R., Trivodaliev, K.V.: A review of Internet of Things for smart home: challenges and solutions. J. Clean Prod. 140, 1454–64 (2017)CrossRef Stojkoska, B.L.R., Trivodaliev, K.V.: A review of Internet of Things for smart home: challenges and solutions. J. Clean Prod. 140, 1454–64 (2017)CrossRef
6.
Zurück zum Zitat Christidis, K., Devetsikiotis, M.: Blockchains and smart contracts for the IoTs. IEEE Access 4, 2292–2303 (2016)CrossRef Christidis, K., Devetsikiotis, M.: Blockchains and smart contracts for the IoTs. IEEE Access 4, 2292–2303 (2016)CrossRef
7.
Zurück zum Zitat Chitchyan, R., Murkin, J.: Review of blockchain technology and its expectations: case of the energy sector. arXiv preprint arXiv:1803.03567 (2018) Chitchyan, R., Murkin, J.: Review of blockchain technology and its expectations: case of the energy sector. arXiv preprint arXiv:​1803.​03567 (2018)
8.
Zurück zum Zitat Andoni, M., et al.: Blockchain technology in the energy sector: a systematic review of challenges and opportunities. Renew. Sustain. Energy Rev. 100, 143–174 (2019)CrossRef Andoni, M., et al.: Blockchain technology in the energy sector: a systematic review of challenges and opportunities. Renew. Sustain. Energy Rev. 100, 143–174 (2019)CrossRef
9.
Zurück zum Zitat Mengelkamp, E., et al.: A blockchain-based smart grid: towards sustainable local energy markets. Comput. Sci.-Res. Dev. 33, 207–214 (2018)CrossRef Mengelkamp, E., et al.: A blockchain-based smart grid: towards sustainable local energy markets. Comput. Sci.-Res. Dev. 33, 207–214 (2018)CrossRef
10.
Zurück zum Zitat Murkin, J., Chitchyan, R., Byrne, A.: Enabling peer-to peer electricity trading. In: 4th International Conference on ICT for Sustainability, pp. 234–235 (2016) Murkin, J., Chitchyan, R., Byrne, A.: Enabling peer-to peer electricity trading. In: 4th International Conference on ICT for Sustainability, pp. 234–235 (2016)
11.
Zurück zum Zitat Pop, C., et al.: Blockchain based decentralized management of demand response programs in smart energy grids. Sensors 18(1), 162 (2018)CrossRef Pop, C., et al.: Blockchain based decentralized management of demand response programs in smart energy grids. Sensors 18(1), 162 (2018)CrossRef
12.
Zurück zum Zitat Oh, S.-C., et al.: Implementation of blockchain-based energy trading system. Asia Pac. J. Innov. Entrepreneurship 11(3), 322–334 (2017)CrossRef Oh, S.-C., et al.: Implementation of blockchain-based energy trading system. Asia Pac. J. Innov. Entrepreneurship 11(3), 322–334 (2017)CrossRef
13.
Zurück zum Zitat Mihaylov, M., et al.: NRG-X-change-a novel mechanism for trading of renewable energy in smart grids. In: Smartgreens, pp. 101–106 (2014) Mihaylov, M., et al.: NRG-X-change-a novel mechanism for trading of renewable energy in smart grids. In: Smartgreens, pp. 101–106 (2014)
14.
Zurück zum Zitat Mannaro, K., Pinna, A., Marchesi, M.: Crypto-trading: blockchain-oriented energy market. In: AEIT International Annual Conference, pp. 1–5. IEEE (2017) Mannaro, K., Pinna, A., Marchesi, M.: Crypto-trading: blockchain-oriented energy market. In: AEIT International Annual Conference, pp. 1–5. IEEE (2017)
18.
Zurück zum Zitat Buterin, V.: Ethereum white paper. GitHub repository, pp. 22–23 (2013) Buterin, V.: Ethereum white paper. GitHub repository, pp. 22–23 (2013)
21.
Zurück zum Zitat Macal, C.M., North, M.J.: Tutorial on agent-based modelling and simulation. J. Simul. 4(3), 151–162 (2010)CrossRef Macal, C.M., North, M.J.: Tutorial on agent-based modelling and simulation. J. Simul. 4(3), 151–162 (2010)CrossRef
22.
Zurück zum Zitat Macal, C.M., North, M.J.: Agent-based modeling and simulation: ABMS examples. In: Proceedings of 40th Conference on Winter Simulation, pp. 101–112 (2008) Macal, C.M., North, M.J.: Agent-based modeling and simulation: ABMS examples. In: Proceedings of 40th Conference on Winter Simulation, pp. 101–112 (2008)
27.
Zurück zum Zitat Siim, J.: DAG-Based Distributed Ledgers (2018) Siim, J.: DAG-Based Distributed Ledgers (2018)
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

Premium Partner