Blockchain consensus mechanism and method for peer-to-peer electricity trading.

Area of Science:

• Electrical Engineering
• Computer Science
• Blockchain Technology

Background:

• Distributed electricity trading markets are crucial for modern power systems.
• Peer-to-peer (P2P) electricity trading faces challenges like security vulnerabilities, information asymmetry, and inadequate credit evaluation.

Purpose of the Study:

• To propose a novel blockchain consensus mechanism and methodology for secure and efficient P2P electricity trading.
• To enhance the trustworthiness of transaction nodes and ensure transaction timeliness.
• To mitigate malicious activities and achieve production-consumption balance in P2P electricity markets.

Main Methods:

• Designed an access mechanism with a credit rating decision tree for secure transaction nodes.
• Developed a smart contract-based demand-response mechanism for timely prosumer transactions.
• Constructed a multi-criteria objective function with priority-based consensus and dynamic weight adaptation, incorporating user behavior to mitigate malicious activities.

Main Results:

• The proposed blockchain consensus mechanism ensures the security and trustworthiness of P2P electricity trading nodes.
• Smart contracts facilitate timely demand-response matching based on prosumer conditions.
• The consensus method effectively mitigates malicious activities and achieves production-consumption balance, validated in a lab environment.

Conclusions:

• The developed blockchain consensus mechanism offers a valid and practical solution for P2P electricity trading.
• This research provides novel methodologies for enhancing security, efficiency, and autonomy in distributed energy trading.
• The study contributes to the advancement of new-type power systems through improved P2P trading mechanisms.