Privacy-Preserving Transactive Energy Management for IoT-aided Smart Homes via Blockchain
Abstract : With the booming of smart grid, The ubiquitously deployed smart meters constitutes an energy internet of things. This paper develops a novel blockchain-based transactive energy management system for IoT-aided smart homes. We consider a holistic set of options for smart homes to participate in transactive energy. Smart homes can interact with the grid to perform vertical transactions, e.g., feeding in extra solar energy to the grid and providing demand response service to alleviate the grid load. Smart homes can also interact with peer users to perform horizontal transactions, e.g., peer-to-peer energy trading. However, conventional transactive energy management method suffers from the drawbacks of low efficiency, privacy leakage, and single-point failure. To address these challenges, we develop a privacy-preserving distributed algorithm that enables users to optimally manage their energy usages in parallel via the smart contract on the blockchain. Further, we design an efficient blockchain system tailored for IoT devices and develop the smart contract to support the holistic transactive energy management system. Finally, we evaluate the feasibility and performance of the blockchain-based transactive energy management system through extensive simulations and experiments. The results show that the blockchain-based transactive energy management system is feasible on practical IoT devices and reduces the overall cost by 25%.
? When a majority of nodes validates (i.e. votes for) a transaction/block, consensus exists and finality occurs.
? Trade-off between scalability and latency: the algorithm is quicker but the more nodes are on the net, the more time it takes to reach consensus.
? Blockchain promises to streamline fragmented and complex market structures for renewable certificates, carbon credits or general environmental attributes.
? Power Ledger platform based on Ethereum (POWR token) for energy trading with the aim of making energy markets more efficient.
? The business helps people transact energy and renewables in local energy communities.
? The blockchain acts as a trusted computing machine that solves the optimization problem of SCT, and thus removes the need for a central coordinator.
? By decomposing TEM into ULT and SCT, we obtain a distributed solution to the optimization problem of TEM.
? Since the decision variables are coupled across all users, the traditional way of solving Problem TEM is to let a central coordinator collect all the users’ information and solve TEM in a centralized manner.
? The blockchain provides a reliable communication network and a trusted computing machine to solve the optimization problem of TEM.
• To improve the system throughput two fairness-based packing algorithms are proposed.
• Several centralized data storage schemes has been proposed, still there is a vulnerability to DoS attacks and the untrusted nature of cloud service providesr leads to the proposal of a blockchain-based decentralized storage scheme.
• However if one considers less computationally expensive algorithms like PoS, PBFT and DPoS, though they require less energy they are reasonable for enormous scope frameworks.
• A new algorithm proof of trust has been proposed to address this issue but still it needs to be investigated.
? The consensus protocol is a crucial component that affects the overall performance of the blockchain system.
? Both and adopted the Hyperledger Fabric blockchain and conducted experiments on PCs with Intel CPUs, but their setup is infeasible on IoT devices without high-performance CPUs.
? Nevertheless, the low throughput and long transaction confirmation delay degrade the performance of blockchain-based IoT applications.
? To show its convergence performance, we simulate the algorithm in two cases with five users and ten users.
? We are building a larger testing IoT network to analyze the performance of the proposed blockchain with massive users.
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