Proceedings ArticleDOI
Blockchain for smart grid resilience: Exchanging distributed energy at speed, scale and security
Michael Mylrea,Sri Nikhil Gupta Gourisetti +1 more
- pp 18-23
Reads0
Chats0
TLDR
The application of blockchain and smart contracts to improve smart grid cyber resiliency and secure transactive energy applications is explored.Abstract:
Blockchain may help solve several complex problems related to securing the integrity and trustworthiness of rapid, distributed, complex energy transactions and data exchanges. In a move towards grid resilience, blockchain commoditizes trust and enables automated smart contracts to support auditable multiparty transactions based on predefined rules between distributed energy providers and customers. Blockchain based smart contracts also help remove the need to interact with third-parties, facilitating the adoption and monetization of distributed energy transactions and exchanges, both energy flows as well as financial transactions. This may help reduce transactive energy costs and increase the security and sustainability of distributed energy resource (DER) integration, helping to remove barriers to a more decentralized and resilient power grid. This paper explores the application of blockchain and smart contracts to improve smart grid cyber resiliency and secure transactive energy applications.read more
Citations
More filters
Proceedings ArticleDOI
A Novel Protection Mechanism for Critical Mission IoT in Smart Grid
TL;DR: In this article , the authors classified and expound the main security threats facing the current smart grid, and put forward the subsequent protection schemes such as firewall, intrusion detection system (IDS), access control and identity authentication.
Proceedings ArticleDOI
RADM: a risk-aware DER management framework with real-time DER trustworthiness evaluation
Yaodan Hu,Xiaochen Xian,Yier Jin +2 more
TL;DR: In this article, a system-level risk-aware distributed energy resources management framework (RADM) is proposed to mitigate the attack impacts by dynamically evaluating the trustworthiness of DERs.
Journal ArticleDOI
Carbon emission and cost of blockchain mining in a case of peer-to-peer energy trading
Kevin Coutinho,Pornpit Wongthongtham,Bilal Abu-Salih,Mousa A. Abu Saleh,Neerajkumari Khairwal +4 more
TL;DR: This paper aims to look at the linkages between blockchain technology and energy systems in terms of blockchain power consumption against blockchain advantage over renewable energy transitions via peer-to-peer energy trading and concludes that the cost of processing trading transactions is lower using blockchain than current coordination costs.
Proceedings ArticleDOI
Towards Realising Value of Internet of Energy (IoE) Application for Peer-to-Peer (P2P) Energy Trading: A PETRONAS Case Study
Mohd Nizam Esa,Martina Muhaizira Mohamad,Mahathir Mohtar,Ir. Md Afifuddin Daud,Ir Mohd Iqbal Ridwan,Ir. M Faizal Hamdan +5 more
TL;DR: In this paper , the authors discuss the challenges in terms of legislative, technical, and commercial aspects prior to the implementation of the PoC at PETRONAS Petrochemical Complex and highlight the expected value creation from the project.
Journal ArticleDOI
User-centric In-network Caching Mechanism for Off-chain Storage with Blockchain
Hiroaki Yamanaka,Yuuichi Teranishi,Yusaku Hayamizu,Atsushi Ooka,Kazuhisa Matsuzono,Ruidong Li,Hitoshi Asaeda +6 more
TL;DR: A user-centric in-network caching mechanism for off-chain storage (UCINC) with information-centric networking (ICN) approach to regulate the data caching to the off- Chain storage in the network where users are located, which achieves higher download performance and traffic efficiency compared with the existing off- chain storage mechanisms.
References
More filters
Journal ArticleDOI
Blockchains and Smart Contracts for the Internet of Things
TL;DR: The conclusion is that the blockchain-IoT combination is powerful and can cause significant transformations across several industries, paving the way for new business models and novel, distributed applications.
Proceedings ArticleDOI
Hawk: The Blockchain Model of Cryptography and Privacy-Preserving Smart Contracts
TL;DR: In this article, the authors present Hawk, a decentralized smart contract system that does not store financial transactions in the clear on the blockchain, thus retaining transactional privacy from the public's view.
Book
Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World
Don Tapscott,Alex Tapscott +1 more
TL;DR: The technology likely to have the greatest impact on the future of the world economy has arrived, and its not self-driving cars, solar energy, or artificial intelligence, its called the blockchain, a new, distributed platform that can help reshape the world of business and transform the old order of human affairs for the better.
Posted Content
Step by Step Towards Creating a Safe Smart Contract: Lessons and Insights from a Cryptocurrency Lab.
TL;DR: This work documents the experiences in teaching smart contract programming to undergraduate students at the University of Maryland, the first pedagogical attempt of its kind.
Book ChapterDOI
Step by Step Towards Creating a Safe Smart Contract: Lessons and Insights from a Cryptocurrency Lab
TL;DR: In this paper, the authors document their experiences in teaching smart contract programming to undergraduate students at the University of Maryland, the first pedagogical attempt of its kind, where smart contracts deal directly with the movement of valuable currency units between contractual parties, security of a contract program is of paramount importance.