RESEARCH PAPER
Blockchain-Powered Peer-to-Peer Energy Trading: A Comprehensive Framework for Secure, Transparent, and Direct Transactions in the Energy Sector Optimization Algorithm
1
School of Electronic and Communication Engineering, Zhejiang Post and Telecommunication College, China
Submission date: 2024-09-23
Final revision date: 2024-11-26
Acceptance date: 2025-02-09
Online publication date: 2025-02-16
Publication date: 2025-02-16
Corresponding author
Shaowei He
School of Electronic and Communication Engineering, Zhejiang Post and Telecommunication College, 312366, Shaoxing, China
School of Electronic and Communication Engineering, Zhejiang Post and Telecommunication College, 312366, Shaoxing, China
Eksploatacja i Niezawodność – Maintenance and Reliability 2025;27(3):201172
HIGHLIGHTS
- Ensuring secure blockchain transactions, boosting transparency and protecting privacy.
- Automating transactions via smart contract reducing intermediaries & improving fairness.
- Integrating renewables through modular design, optimizing allocation and scalability.
- Improving transparency to build confidence in decentralized energy trading systems.
KEYWORDS
BlockchainPeer-to-Peer Energy TradingRetail Electricity MarketSmart ContractRenewable Energy Integration
TOPICS
ABSTRACT
While blockchain technology is viewed to revolutionize the energy sector by its cryptography-based, open, and direct peer-to-peer energy trading (P2PET) from producer to consumer, the current paper focused on the blockchain framework developed that allows for P2PET in the retail electricity market. The platform makes sure that there is proper supply-demand matching, transaction streamlining, and increased need for direct interaction, hence reducing the need for brokers on the platform. Its design monitors the entire energy trading process, with smart contracts automating payments and transactions to ensure security and fairness. Tests in a private Ethereum environment demonstrate benefits like accurate market pricing, fair profit distribution, and better renewable energy integration. It also incentivizes the participation of stakeholders in the P2PET through high-value information on gas usage, introducing computational efficiency. Besides, this proposed model adopted a consensus mechanism that would guarantee the permanence, scalability, and robustness of transactions across ...
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| eISSN: | 2956-3860 |
| ISSN: | 1507-2711 |
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