Consortium Blockchain for Secure Energy Trading in Industrial Internet of Things

Zhetao Li, Jiawen Kang, Rong Yu, Dongdong Ye, Qingyong Deng, Yan Zhang
2017 IEEE Transactions on Industrial Informatics  
In Industrial Internet of Things (IIoT), Peer-to-Peer (P2P) energy trading ubiquitously takes place in various scenarios, e.g., microgrids, energy harvesting networks, and vehicle-togrid networks. However, there are common security and privacy challenges caused by untrusted and nontransparent energy markets in these scenarios. To address the security challenges, we exploit the consortium blockchain technology to propose a secure energy trading system named energy blockchain. This energy
more » ... in can be widely used in general scenarios of P2P energy trading getting rid of a trusted intermediary. Besides, to reduce the transaction limitation resulted from transaction confirmation delays on the energy blockchain, we propose a credit-based payment scheme to support fast and frequent energy trading. An optimal pricing strategy using Stackelberg game for credit-based loans is also proposed. Security analysis and numerical results based on a real dataset illustrate that the proposed energy blockchain and credit-based payment scheme are secure and efficient in IIoT.
doi:10.1109/tii.2017.2786307 fatcat:yeufhj2bmjd3fogbolrhyo43bi