A Microgrid Trading Framework Based on PoC Consensus
Authors: Lianghaojie Zhou, Youquan Xian, Yipeng Yang, Jianyong Jiang, Peng Liu, Xianxian Li
AI-generated Key Points
- Blockchain-based distributed energy trading is a promising alternative to traditional centralized trading in the field of energy Internet.
- Existing power blockchain platforms face challenges such as low consensus efficiency and wastage of computing resources in public chain-based systems, and difficulties in attracting users and potential collusion between alliances in consortium chain-based systems.
- The authors propose a microgrid trading framework based on proof of contribution (PoC) consensus to address these issues.
- The framework aims to improve both the consensus efficiency of the blockchain and serve as an incentive mechanism to attract users to participate in the power blockchain.
- Verifiable random functions (VRF) are used to randomly select nodes based on their contribution value and weights in each round of consensus. These selected nodes form the next round's consensus committee.
- By incorporating PoC consensus and VRF-based node selection, the framework enhances both the efficiency and fairness of electricity trading within microgrids.
- Experimental results demonstrate that the proposed framework is effective, with reasonable contribution values designed.
- Users are motivated to actively participate in energy transactions through this framework, leading to a more equitable energy market.
- This research presents a novel approach for addressing existing challenges in energy trading platforms by leveraging PoC consensus and VRF-based node selection.
- The findings highlight the potential benefits of this microgrid trading framework for improving both efficiency and fairness within blockchain-based distributed energy trading systems.
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.
Tools for this paper
Ask questions about this paper to our AI assistant
You can also chat with multiple papers at once here.
⚠The license of the paper does not allow us to build upon its content and the AI assistant only knows about the paper metadata rather than the full article.
The previous summary was created more than a year ago and can be re-run (if necessary) by clicking on the Run button below.
⚠The license of this specific paper does not allow us to build upon its content and the summarizing tools will be run using the paper metadata rather than the full article. However, it still does a good job, and you can also try our tools on papers with more open licenses.
Similar papers summarized with our AI tools
Navigate through even more similar papers through a
tree representationLook for similar papers (in beta version)
We compare the title and abstract with papers indexed in our database. For arXiv papers, we search within the same category; for DOI and other sources, we search across sources and subjects. You can rerun the search as our database grows.
Disclaimer: The AI-based summarization tool and virtual assistant provided on this website may not always provide accurate and complete summaries or responses. We encourage you to carefully review and evaluate the generated content to ensure its quality and relevance to your needs.