On the Performance of Consensus Mechanisms in Privacy-Enabled Decentralized Peer-to-Peer Renewable Energy MarketplaceShow others and affiliations
2023 (English)In: Proceedings of the 26th Conference on Innovation in Clouds, Internet and Networks, ICIN 2023 / [ed] Lopez D., Montpetit M.-J., Cerroni W., Di Mauro M., Borylo P., Institute of Electrical and Electronics Engineers (IEEE), 2023, p. 179-186Conference paper, Published paper (Refereed)
Abstract [en]
This work defines a decentralized blockchain-based peer-to-peer (P2P) energy marketplace which addresses actors' privacy and the performance of consensus mechanisms. The defined marketplace utilizes private permissioned Ethereum-based blockchain client Hyperledger Besu (HB) and its smart contracts to automate the P2P trade settlement process. Also, to make the marketplace compliant with energy trade regulations, it includes the regulator actor, which manages the issue and generation of guarantees of origin and certifies the renewable energy sources used to generate traded electricity. Finally, the proposed marketplace incorporates privacy-preserving features, allowing it to generate private transactions and store them within a designated group of actors. Performance evaluation results of HB-based marketplace with three main consensus mechanisms for private networks, i. e., Clique, IBFT 2.0, and QBFT, demonstrate a lower throughput than another popular private permissioned blockchain platform Hyperledger Fabric (HF). However, the lower throughput is a side effect of the Byzantine Fault Tolerant characteristics of HB's consensus mechanisms, i. e., IBFT 2.0 and QBFT, which provide increased security compared to HF's Crash Fault Tolerant consensus RAFT. © 2023 IEEE.
Place, publisher, year, edition, pages
Institute of Electrical and Electronics Engineers (IEEE), 2023. p. 179-186
Keywords [en]
Blockchain Technology, Data Privacy, Hyperledger Besu, Peer-To-Peer Energy Trading, Renewable Energy Marketplace, Distributed ledger, Energy policy, Fault tolerance, Power markets, Privacy-preserving techniques, Renewable energy resources, Block-chain, Decentralised, Energy trading, Hyperledg besu, Peer to peer, Performance, Renewable energies, Blockchain
National Category
Computer Sciences
Identifiers
URN: urn:nbn:se:bth-24459DOI: 10.1109/ICIN56760.2023.10073510ISI: 001006975300031Scopus ID: 2-s2.0-85151998681ISBN: 9798350398045 (print)OAI: oai:DiVA.org:bth-24459DiVA, id: diva2:1752335
Conference
26th Conference on Innovation in Clouds, Internet and Networks, ICIN 2023, Paris, 6 March through 9 March 2023
Part of project
Symphony – Supply-and-Demand-based Service Exposure using Robust Distributed Concepts, Knowledge Foundation
Funder
Knowledge Foundation, 201901112023-04-212023-04-212023-08-11Bibliographically approved