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1. Proof of X: Experimental Insights on Blockchain Consensus Algorithms in Energy Markets

   Machacek, Travis ; Biswal, Milan ; Misra, Satyajayant ( January 2021 , Innovative smart grid technologies)

   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 beenmore »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.« less
2. Blockumulus: A Scalable Framework for Smart Contracts on the Cloud

   https://doi.org/10.1109/ICDCS51616.2021.00064  

   Ivanov, Nikolay ; Yan, Qiben ; Wang, Qingyang ( July 2021 , 2021 IEEE 41st International Conference on Distributed Computing Systems (ICDCS))

   Public blockchains have spurred the growing popularity of decentralized transactions and smart contracts, especially on the financial market. However, public blockchains exhibit their limitations on the transaction throughput, storage availability, and compute capacity. To avoid transaction gridlock, public blockchains impose large fees and per-block resource limits, making it difficult to accommodate the ever-growing high transaction demand. Previous research endeavors to improve the scalability and performance of blockchain through various technologies, such as side-chaining, sharding, secured off-chain computation, communication network optimizations, and efficient consensus protocols. However, these approaches have not attained a widespread adoption due to their inability in delivering amore »cloud-like performance, in terms of the scalability in transaction throughput, storage, and compute capacity. In this work, we determine that the major obstacle to public blockchain scalability is their underlying unstructured P2P networks. We further show that a centralized network can support the deployment of decentralized smart contracts. We propose a novel approach for achieving scalable decentralization: instead of trying to make blockchain scalable, we deliver decentralization to already scalable cloud by using an Ethereum smart contract. We introduce Blockumulus, a framework that can deploy decentralized cloud smart contract environments using a novel technique called overlay consensus. Through experiments, we demonstrate that Blockumulus is scalable in all three dimensions: computation, data storage, and transaction throughput. Besides eliminating the current code execution and storage restrictions, Blockumulus delivers a transaction latency between 2 and 5 seconds under normal load. Moreover, the stress test of our prototype reveals the ability to execute 20,000 simultaneous transactions under 26 seconds, which is on par with the average throughput of worldwide credit card transactions.« less
3. Privacy preserving divisible double auction with a hybridized TEE-blockchain system

   https://doi.org/10.1186/s42400-021-00100-x  

   Liu, Bingyu ; Xie, Shangyu ; Yang, Yuanzhou ; Wang, Rujia ; Hong, Yuan ( December 2021 , Cybersecurity)

   Abstract Double auction mechanisms have been designed to trade a variety of divisible resources (e.g., electricity, mobile data, and cloud resources) among distributed agents. In such divisible double auction, all the agents (both buyers and sellers) are expected to submit their bid profiles, and dynamically achieve the best responses. In practice, these agents may not trust each other without a market mediator. Fortunately, smart contract is extensively used to ensure digital agreement among mutually distrustful agents. The consensus protocol helps the smart contract execution on the blockchain to ensure strong integrity and availability. However, severe privacy risks would emerge inmore »the divisible double auction since all the agents should disclose their sensitive data such as the bid profiles (i.e., bid amount and prices in different iterations) to other agents for resource allocation and such data are replicated on all the nodes in the network. Furthermore, the consensus requirements will bring a huge burden for the blockchain, which impacts the overall performance. To address these concerns, we propose a hybridized TEE-Blockchain system (system and auction mechanism co-design) to privately execute the divisible double auction. The designed hybridized system ensures privacy, honesty and high efficiency among distributed agents. The bid profiles are sealed for optimally allocating divisible resources while ensuring truthfulness with a Nash Equilibrium. Finally, we conduct experiments and empirical studies to validate the system and auction performance using two real-world applications.« less
4. Peer-to-Peer Energy Trading in DC Packetized Power Microgrids

   https://doi.org/10.1109/JSAC.2019.2951991  

   Zhang, Haobo ; Zhang, Hongliang ; Song, Lingyang ; Li, Yonghui ; Han, Zhu ; Poor, H. Vincent ( September 2019 , IEEE Journal on Selected Areas in Communications)

   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 tradingmore »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.« less
5. A Collaborative Enforcement Mechanism for Spectrum Sharing Using Blockchain and Smart Contracts: An application for the 1695-1710MHz band

   Bustamante, Pedro J ; Gomez, Marcela M. ; Weiss, Martin BH ; Znati, Taieb ; Das, Debarun ; Rose, J. Stephanie ( September 2019 , Telecommunications Policy Research Conference)

   Traditionally, spectrum allocation has been governed by centralized schemes (e.g., command-and-control). Nonetheless, other mechanisms, such as collaborative enforcement, have proven to be successful in a variety of scenarios. In Collaborative enforcement (i.e., collective action), the stakeholders agree on decision-making arrangements (i.e., access, allocation, and control of the resources) while being involved in monitoring the adherence to the rules as a shared effort. Blockchain is a distributed ledger of records/transactions (i.e., database) that brings many benefits such as decentralization, transparency, immutability, etc. One of the most notable characteristics of blockchain-based platforms is their definition as trust-less environments, as there is nomore »central entity in charge of controlling the network interactions. Instead, trust is a group effort, achieved through repeated interactions, consensus algorithms, and cryptographic tools; therefore, converting blockchain systems into examples of collaborative governance regimes. In this paper, our goal is to analyze a particular application of blockchain and smart contracts for the 1695-1710MHz sharing scenario. In this way, we provide a theoretical analysis of the feasibility and the required characteristics to implement such a system. In addition, through the implementation of a Proof of Concept, we explore how the implementation of a blockchainbased organization can be the motor to build a collaborative governance scheme in the spectrum sharing arrangement of the 1695-1710MHz band« less