Decentralized Private Peer-to-Peer Energy Trading using Public Blockchains

Peer-to-Peer (P2P) energy trading is a decentralized system that allows consumers and prosumers to trade energy without the need of a third party. P2P energy trading could be integrated to create a smart market within smart grid to form a decentralized energy trading platform. Such energy trading approach promotes consumers to become prosumers. The objective of this research is to create a secure and private P2P energy trading system using a public blockchain. This research reviews different approaches of energy trading and blockchain technologies. Then, a novel blockchain-based trading model is proposed to construct the system. The proposed energy trading model is implemented using Ethereum’s blockchain and smart contracts. Simulation and experimental analyses are performed to show that the proposed methodology is reliable, safe, and secure for energy trading.