skip to main content


Title: Peer-to-Peer Energy Trading and Grid Impact Studies in Smart Communities
The rise of peer-to-peer (P2P) marketplace paradigms has transformed existing marketplace models, but the extent to which this approach can be applied to the energy marketplace has yet to be considered. In this paper, we examine existing approaches taken in the application of a P2P paradigm to the energy marketplace, further presenting an approach towards facilitating an online P2P energy marketplace, implementing a prototype P2P web application named SolTrade. Furthermore, we submit initial statistics based on simulated transactions facilitated through the platform, which illustrate the physical impact of marketplace transactions on the energy grid. In particular, these results show that, as the number of users rises, the chance of overloading the grid rises, but the chance of the grid being unable to sustain itself without an external source of energy falls.  more » « less
Award ID(s):
1852002
NSF-PAR ID:
10147603
Author(s) / Creator(s):
; ; ; ;
Date Published:
Journal Name:
2020 International Conference on Computing, Networking and Communications (ICNC)
Page Range / eLocation ID:
674 to 678
Format(s):
Medium: X
Sponsoring Org:
National Science Foundation
More Like this
  1. null (Ed.)
    The current centralized model of the electricity market is not efficient in performing distributed energy transactions required for the transactive smart grid. One of the prominent solutions to this issue is to integrate blockchain technologies, which promise transparent, tamper-proof, and secure transaction systems specifically suitable for the decentralized and distributed energy markets. Blockchain has already been shown to successfully operate in a microgrid peer-to-peer (P2P) energy market. The prime determinant of different blockchain implementations is the consensus algorithm they use to reach consensus on which blocks/transactions to accept as valid in a distributed environment. Although different blockchain implementations have been proposed independently for P2P energy market in the microgrid, quantitative experimental analyses and comparison of the consensus algorithms that the different blockchains may use for energy markets, has not been studied. Identifying the right consensus algorithm to use is essential for scalability and operation of the energy market. To this end, we evaluate three popular consensus algorithms: (i) proof of work (PoW), (ii) proof of authority (PoA), and (iii) Istanbul Byzantine fault tolerance (IBFT), running them on a network of nodes set up using a network of docker nodes to form a microgrid energy market. Using a series of double auctions, we assess each algorithm's viability using different metrics, such as time to reach consensus and scalability. The results indicate that PoA is the most efficient and scalable consensus algorithm to hold double auctions in the smart grid. We also identified the minimum hardware specification necessary for devices such as smart meters, which may run these consensus algorithms 
    more » « less
  2. The current centralized model of the electricity market is not efficient in performing distributed energy transactions required for the transactive smart grid. One of the prominent solutions to this issue is to integrate blockchain technologies, which promise transparent, tamper-proof, and secure transaction systems specifically suitable for the decentralized and distributed energy markets. Blockchain has already been shown to successfully operate in a microgrid peer-to-peer (P2P) energy market. The prime determinant of different blockchain implementations is the consensus algorithm they use to reach consensus on which blocks/transactions to accept as valid in a distributed environment. Although different blockchain implementations have been proposed independently for P2P energy market in the microgrid, quantitative experimental analyses and comparison of the consensus algorithms that the different blockchains may use for energy markets, has not been studied. Identifying the right consensus algorithm to use is essential for scalability and operation of the energy market. To this end, we evaluate three popular consensus algorithms: (i) proof of work (PoW), (ii) proof of authority (PoA), and (iii) Istanbul Byzantine fault tolerance (IBFT), running them on a network of nodes set up using a network of docker nodes to form a microgrid energy market. Using a series of double auctions, we assess each algorithm’s viability using different metrics, such as time to reach consensus and scalability. The results indicate that PoA is the most efficient and scalable consensus algorithm to hold double auctions in the smart grid. We also identified the minimum hardware specification necessary for devices such as smart meters, which may run these consensus algorithms. 
    more » « less
  3. Most permissionless blockchain networks run on peer-to-peer (P2P) networks, which offer flexibility and decentralization at the expense of performance (e.g., network latency). Historically, this tradeoff has not been a bottleneck for most blockchains. However, an emerging host of blockchain-based applications (e.g., decentralized finance) are increasingly sensitive to latency; users who can reduce their network latency relative to other users can accrue (sometimes significant) financial gains. In this work, we initiate the study of strategic latency reduction in blockchain P2P networks. We first define two classes of latency that are of interest in blockchain applications. We then show empirically that a strategic agent who controls only their local peering decisions can manipulate both types of latency, achieving 60% of the global latency gains provided by the centralized, paid service bloXroute, or, in targeted scenarios, comparable gains. Finally, we show that our results are not due to the poor design of existing P2P networks. Under a simple network model, we theoretically prove that an adversary can always manipulate the P2P network's latency to their advantage, provided the network experiences sufficient peer churn and transaction activity. 
    more » « less
  4. Vincent Poor and Zhu Han (Ed.)
    Recently, blockchain has received much attention from the mobility-centric Internet of Things (IoT). It is deemed the key to ensuring the built-in integrity of information and security of immutability by design in the peer-to-peer network (P2P) of mobile devices. In a permissioned blockchain, the authority of the system has control over the identities of its users. Such information can allow an ill-intentioned authority to map identities with their spatiotemporal data, which undermines the location privacy of a mobile user. In this paper, we study the location privacy preservation problem in the context of permissioned blockchain-based IoT systems under three conditions. First, the authority of the blockchain holds the public and private key distribution task in the system. Second, there exists a spatiotemporal correlation between consecutive location-based transactions. Third, users communicate with each other through short-range communication technologies such that it constitutes a proof of location (PoL) on their actual locations. We show that, in a permissioned blockchain with an authority and a presence of a PoL, existing approaches cannot be applied using a plug-and-play approach to protect location privacy. In this context, we propose BlockPriv, an obfuscation technique that quantifies, both theoretically and experimentally, the relationship between privacy and utility in order to dynamically protect the privacy of sensitive locations in the permissioned blockchain. 
    more » « less
  5. As distributed energy resources (DERs) are widely deployed, DC packetized power microgrids have been considered as a promising solution to incorporate DERs effectively and steadily. In this paper, we consider a DC packetized power microgrid, where the energy is dispatched in the form of power packets with the assist of a power router. However, the benefits of the microgrid can only be realized when energy subscribers (ESs) equipped with DERs actively participate in the energy market. Therefore, peer-to-peer (P2P) energy trading is necessary in the DC packetized power microgrid to encourage the usage of DERs. Different from P2P energy trading in AC microgrids, the dispatching capability of the router needs to be considered in DC microgrids, which will complicate the trading problem. To tackle this challenge, we formulate the P2P trading problem as an auction game, in which the demander ESs submit bids to compete for power packets, and a controller decides the energy allocation and power packet scheduling. Analysis of the proposed scheme is provided, and its effectiveness is validated through simulation. 
    more » « less