Skip to main content
SpringerLink
Log in

Intelligent Contract for Power Market Transaction Based on the BlockChain

  • Conference paper
  • First Online:
Artificial Intelligence and Security (ICAIS 2020)

Part of the book series: Communications in Computer and Information Science ((CCIS,volume 1252))

Included in the following conference series:

  • 1615 Accesses

Abstract

The power market is changing with the development of distributed energy. The development of the micro-grid introduces a small power generation system for distributed energy. It has become a trend for the micro-grid to participate in the power market. Blockchain is a database technology with transparent distribution through a decentralization mechanism. In the blockchain, the transaction data are maintained by entire nodes in the power market. It solves the trust problem between the transaction agents. Intelligent contract technology can make transaction contracts computerized and executed automatically, which has dramatically improved transaction efficiency. In this paper, an intelligent contract for the power transaction is analyzed based on the concepts of the blockchain. The roles of the micro-grid and the related intelligent contract technologies in the power market are also investigated in the electricity reform. Finally, a blockchain scheme for point-to-point trading is designed for future purposes.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

Log in via an institution
Chapter
USD 29.95
Price excludes VAT (USA)
  • Available as PDF
  • Read on any device
  • Instant download
  • Own it forever
eBook
USD 84.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 109.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

References

  1. Haus, M., Waqas, M., Ding, A.Y., Li, Y., Tarkoma, S., Ott, J.: Security and privacy in Device-to-Device (D2D) communication: a review. IEEE Commun. Surv. Tutorials 19(2), 1054–1079 (2017)

    Article  Google Scholar 

  2. Ahmed, M., Shi, H., Chen, X., Li, Y., Waqas, M., Jin, D.: Socially aware secrecy-ensured resource allocation in D2d underlay communication: an overlapping coalitional game scheme. IEEE Trans. Wireless Commun. 17(6), 4118–4133 (2018)

    Article  Google Scholar 

  3. Waqas, M., Ahmed, M., Li, Y., Jin, D., Chen, S.: Social-aware secret key generation for secure device-to-device communication via trusted and non-trusted relays. IEEE Trans. Wireless Commun. 17(6), 3918–3930 (2018)

    Article  Google Scholar 

  4. Alam, M.T., Li, H., Patidar, A.: Bitcoin for smart trading in smart grid. In: 2015 IEEE International Workshop on Local and Metropolitan Area Networks (LANMAN) (2015)

    Google Scholar 

  5. Hua, Z., Zhengyu, L., Chunyi, C., Yupeng, H., Bo, Z.: Research of demand-side response of clients based on power market. Comput. Digit. Eng. (2019)

    Google Scholar 

  6. Cai, J., Shuxian, L.I., Fan, B., Tang, L.: Blockchain based energy trading in energy internet. Electric Power Constr. (2017)

    Google Scholar 

  7. Wei, W., Dawei, H., Weihua, L.: The power trading mechanism of distributed micro grid. Inf. Technol. (2019)

    Google Scholar 

  8. She, W., Hu, Y., Yang, X., Gao, S., Liu, W.: Virtual power plant operation and scheduling model based on energy blockchain network. Zhongguo Dianji Gongcheng Xuebao/Proc. Chinese Soc. Electr. Eng. 37(13), 3729–3736 (2017)

    Google Scholar 

  9. Tai, X., Sun, H., Guo, Q.: Electricity transactions and congestion management based on blockchain in energy internet. Power Syst. Technol. 40, 3630–3638 (2016)

    Google Scholar 

  10. Hui, W., Kun, L., Bobo, C., Binbin, J.: Low carbon situation based on the technique of blockchain containing micro-grid power market clearing model. Modern Power 36(1), 18–25

    Google Scholar 

  11. Suliman, A., Husain, Z., Abououf, M., Alblooshi, M., Salah, K.: Monetization of IoT data using smart contracts. IET Netw. 8(1), 32–37 (2018)

    Article  Google Scholar 

  12. Jing, L.U., Song, B., Xiang, W.H., Zhou, Inc, Y., Education, U.O.: Smart contract for electricity transaction and charge settlement based on blockchain. Comput. Syst. Appl. (2017)

    Google Scholar 

Download references

Acknowledgement

This work was partially supported by the National Natural Science Foundation (NNSF) of China (No. 61801008), National Key R&D Program of China (No. 2018YFB0803600), Beijing Natural Science Foundation National (No. L172049), Scientific Research Common Program of Beijing Municipal Commission of Education (No. KM201910005025).

Author information

Authors and Affiliations

  1. Beijing Key Laboratory of Trusted Computing, School of Computing, Beijing University of Technology, Beijing, 100124, China

    Yutong Zhang, Yuan Meng, Shanshan Tu, Muhammad Waqas & Sadaqat Ur Rehman

  2. College of Science and Engineering, Hammad Bin Khalifa University, Al Rayyan, Qatar

    Sadaqat Ur Rehman

  3. Beijing Electro-Mechanical Engineering Institute, Beijing, 100074, China

    Wei Zhao

  4. Telecommunications and Networking (TeleCoN) Research Lab, Ghulam Ishaq Khan Institute of Engineering Sciences and Technology, Topi, 23460, Pakistan

    Muhammad Waqas, Ghulam Abbas & Ziaul Haq Abbas

Authors
  1. Yutong Zhang
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. Yuan Meng
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. Shanshan Tu
    View author publications

    You can also search for this author in PubMed Google Scholar

  4. Muhammad Waqas
    View author publications

    You can also search for this author in PubMed Google Scholar

  5. Sadaqat Ur Rehman
    View author publications

    You can also search for this author in PubMed Google Scholar

  6. Wei Zhao
    View author publications

    You can also search for this author in PubMed Google Scholar

  7. Ghulam Abbas
    View author publications

    You can also search for this author in PubMed Google Scholar

  8. Ziaul Haq Abbas
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to Yutong Zhang .

Editor information

Editors and Affiliations

  1. Nanjing University of Information Science and Technology, Nanjing, China

    Xingming Sun

  2. Nanjing University of Information Science and Technology, Nanjing, China

    Jinwei Wang

  3. Purdue University, West Lafayette, IN, USA

    Elisa Bertino

Rights and permissions

Reprints and permissions

Copyright information

© 2020 Springer Nature Singapore Pte Ltd.

About this paper

Check for updates. Verify currency and authenticity via CrossMark

Cite this paper

Zhang, Y. et al. (2020). Intelligent Contract for Power Market Transaction Based on the BlockChain. In: Sun, X., Wang, J., Bertino, E. (eds) Artificial Intelligence and Security. ICAIS 2020. Communications in Computer and Information Science, vol 1252. Springer, Singapore. https://doi.org/10.1007/978-981-15-8083-3_4

Download citation

  • DOI: https://doi.org/10.1007/978-981-15-8083-3_4

  • Published:

  • Publisher Name: Springer, Singapore

  • Print ISBN: 978-981-15-8082-6

  • Online ISBN: 978-981-15-8083-3

  • eBook Packages: Computer ScienceComputer Science (R0)

Publish with us

Policies and ethics

Search

Navigation