Cyberphysical Blockchain-Enabled Peer-to-Peer Energy Trading

TL;DR

This paper reviews blockchain-enabled peer-to-peer energy trading within cyberphysical systems, highlighting models that improve decentralization, scalability, and security for efficient energy resource management.

Contribution

It introduces three blockchain-based energy trading models addressing technical challenges and market barriers in cyberphysical energy systems.

Findings

Enhanced decentralization, scalability, and security in energy trading

Proposed models overcome technical and market barriers

Improved efficiency and performance in energy resource utilization

Abstract

Scalability and security problems of the centralized architecture models in cyberphysical systems have great potential to be solved by novel blockchain based distributed models.A decentralized energy trading system takes advantage of various sources and effectively coordinates the energy to ensure optimal utilization of the available resources. It achieves that goal by managing physical, social and business infrastructures using technologies such as Internet of Things (IoT), cloud computing and network systems. Addressing the importance of blockchain-enabled energy trading in the context of cyberphysical systems, this article provides a thorough overview of the P2P energy trading and the utilization of blockchain to enhance the efficiency and the overall performance including the degree of decentralization, scalability and the security of the systems. Three blockchain based energy trading models have been proposed to overcome the technical challenges and market barriers for better adoption of this disruptive technology.