Open Access

ARTICLE

Blockchain-based Distributed Power Market Trading Mechanism

Dongjun Cui^1,*, Jinghan He², Guofang Zhang³, Zihan Hou⁴

1 Capital Power Exchange Center Co., Ltd., Beijing, 100031, China
2 Beijing Jiaotong University, Beijing, 100093, China
3 State Grid Sichuan Electric Power Company, Chengdu, 610041, China
4 Hokkaido University, Hokkaido, 060-0808, Japan

* Corresponding Author: Dongjun Cui. Email:

Computers, Materials & Continua 2022, 72(2), 2845-2858. https://doi.org/10.32604/cmc.2022.026568

Received 30 December 2021; Accepted 07 February 2022; Issue published 29 March 2022

Abstract

Distributed power market trading has the characteristics of large number of participants, scattered locations, small single trading scale, and point-to-point trading. The traditional centralized power trading model has the problems of large load, low efficiency, high cost, reliance on third parties and unreliable data. With the characteristics of decentralization and non-tampering, blockchain can establish a point-to-point trusted trading environment and provide effective solutions to the above problems. Therefore, this paper proposed a distributed power market trading framework based on blockchain. In this framework, the distributed power supply characteristics and trading needs of each participant are analyzed, a complete distributed trading process based on blockchain is designed. In addition, we have studied the key technologies of distributed power market trading. With the goal of power service reputation and maximum revenue of distributed power providers, we have established a matching degree model, a distributed power market trading optimization model, and designed a smart contract-based power market trading optimization strategy and power trading settlement strategy. Finally, we designed experiments to verify the performance of the proposed framework.

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Keywords

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