A Microgrid Trading Framework Based on PoC Consensus

TL;DR

This paper introduces a blockchain-based microgrid trading framework using proof of contribution (PoC) that enhances consensus efficiency and incentivizes user participation in energy trading.

Contribution

It proposes a novel PoC consensus mechanism with VRF-based node selection to improve efficiency and fairness in energy blockchain trading platforms.

Findings

Improved consensus efficiency demonstrated in experiments

Effective incentive mechanism attracts more users

Fair energy transactions achieved through contribution-based rewards

Abstract

In the field of energy Internet, blockchain-based distributed energy trading mode is a promising way to replace the traditional centralized trading mode. However, the current power blockchain platform based on public chain has problems such as low consensus efficiency and waste of computing resources. The energy trading platform based on the consortium chain has problems such as inability to attract users to join and collusion between alliances. We propose a microgrid trading framework based on proof of contribution (PoC). According to the contribution value, we randomly select nodes based on weights through verifiable random functions (VRF) in each round of consensus to form the next round of consensus committee. The proposed electricity trading framework not only improves the consensus efficiency of the blockchain, but also is suitable as an incentive mechanism to attract users to participate in the power blockchain. Experiments show that our framework is effective and the contribution value we designed is reasonable. Through our framework, we can motivate users to participate and make energy transactions more fair.