A Cost Analysis of Implementing a Blockchain Architecture in a Smart Grid Scenario Using Sidechains

Area of Science:

• Computer Science
• Electrical Engineering
• Cybersecurity

Background:

• Smart grid systems are crucial for sustainable power, processing vast data for optimized services.
• User privacy and data security are paramount due to the sensitive information handled by smart grids.
• Existing blockchain solutions for smart grids are fragmented, lacking a unified, scalable approach.

Purpose of the Study:

• To propose a novel, scalable, and adaptable blockchain architecture for smart grid systems.
• To enhance privacy, security, and trust within smart grid data management.
• To ensure universal applicability through integration with existing smart grid protocols.

Main Methods:

• Development of a blockchain architecture utilizing sidechains for improved scalability and adaptability.
• Implementation of a three-blockchain system to guarantee data privacy, security, and system trust.
• Integration with the Open Smart Grid Protocol and smart contracts for widespread adoption.

Main Results:

• The proposed architecture successfully guarantees security and privacy for smart grid data.
• The solution is demonstrated to be feasible for implementation in real-world smart grid systems.
• Scalability challenges related to the storage of large volumes of generated data persist.

Conclusions:

• The novel blockchain architecture effectively addresses critical privacy and security concerns in smart grids.
• The use of sidechains and multiple blockchains offers a robust framework for secure smart grid operations.
• Further research is needed to overcome data storage limitations and achieve full scalability.