Distributed double auction for peer to peer energy trade using blockchains

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dc.contributor.authorThakur, Subhasis
dc.contributor.authorHayes, Barry P.
dc.contributor.authorBreslin, John G.
dc.contributor.funderEnterprise Irelanden
dc.contributor.funderScience Foundation Irelanden
dc.contributor.funderEuropean Regional Development Funden
dc.date.accessioned2019-03-26T12:23:45Z
dc.date.available2019-03-26T12:23:45Z
dc.date.issued2018-09
dc.date.updated2019-03-26T12:07:47Z
dc.description.abstractIn this paper we use the blockchain technology to develop a peer to peer energy trade platform without a trusted third party. Our main contribution is a novel distributed double auction mechanism which allows any peer to act as an auctioneer and the blockchain mechanism ensures that a peer behaves lawfully while acting as an auctioneer. Using experimental evaluation we show that (1) the distributed auction converges quickly, (2) it minimizes energy loss due to long transmission, (3) computational overhead due to employing a blockchain is negligible, (4) it is efficient and (5) it can implement trade restrictions imposed by the energy distribution network.en
dc.description.sponsorshipEnterprise Ireland (Contract reference number TC-2013-0002B)en
dc.description.statusPeer revieweden
dc.description.urihttp://soe.northumbria.ac.uk/efea2018/en
dc.description.versionAccepted Versionen
dc.format.mimetypeapplication/pdfen
dc.identifier.citationThakur, S., Hayes, B. P. and Breslin, J. G. (2018) 'Distributed double auction for peer to peer energy trade using blockchains', 2018 5th International Symposium on Environment-Friendly Energies and Applications (EFEA), Rome, Italy, 24-26 September. doi:10.1109/EFEA.2018.8617061en
dc.identifier.doi10.1109/EFEA.2018.8617061
dc.identifier.endpage8en
dc.identifier.isbn978-1-5386-5518-4
dc.identifier.isbn978-1-5386-5517-7
dc.identifier.startpage1en
dc.identifier.urihttps://hdl.handle.net/10468/7677
dc.language.isoenen
dc.publisherInstitute of Electrical and Electronics Engineers (IEEE)en
dc.relation.ispartof2018 5th International Symposium on Environment-Friendly Energies and Applications (EFEA)
dc.relation.projectinfo:eu-repo/grantAgreement/SFI/SFI Research Centres/12/RC/2289/IE/INSIGHT - Irelands Big Data and Analytics Research Centre/en
dc.relation.urihttps://ieeexplore.ieee.org/document/8617061
dc.rights© 2018, IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.en
dc.subjectDistribution networksen
dc.subjectElectronic commerceen
dc.subjectPeer-to-peer computingen
dc.subjectEnergy distribution networken
dc.subjectTrade restrictionsen
dc.subjectEnergy lossen
dc.subjectDistributed auction convergesen
dc.subjectBlockchain mechanismen
dc.subjectAuctioneeren
dc.subjectDouble auction mechanismen
dc.subjectPeer energy trade platformen
dc.subjectBlockchain technologyen
dc.subjectDistributed double auctionen
dc.subjectBlockchainen
dc.subjectProtocolsen
dc.subjectEnergy exchangeen
dc.subjectGamesen
dc.subjectSiliconen
dc.subjectPublic keyen
dc.subjectMicrogrid energy tradeen
dc.subjectDouble auctionen
dc.titleDistributed double auction for peer to peer energy trade using blockchainsen
dc.typeConference itemen
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