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A Block-Free Distributed Ledger for P2P Energy Trading: Case with IOTA?

  • Joon Park
  • Ruzanna ChitchyanEmail author
  • Anastasia Angelopoulou
  • Jordan Murkin
Conference paper
Part of the Lecture Notes in Computer Science book series (LNCS, volume 11483)

Abstract

Across the world, the organisation and operation of the electricity markets is quickly changing, moving towards decentralised, distributed, renewables-based generation with real-time data exchange-based solutions. In order to support this change, blockchain-based distributed ledgers have been proposed for implementation of peer-to-peer energy trading platform. However, blockchain solutions suffer from scalability problems as well as from delays in transaction confirmation. This paper explores the feasibility of using IOTA’s DAG-based block-free distributed ledger for implementation of energy trading platforms. Our agent-based simulation research demonstrates that an IOTA-like DAG-based solution could overcome the constraints that blockchains face in the energy market. However, to be usable for peer-to-peer energy trading, even DAG-based platforms need to consider specificities of energy trading markets (such as structured trading periods and assured confirmation of transactions for every completed period).

Keywords

Blockchain Peer to peer energy trading platform DAG-based distributed ledger Block-free ledger IOTA Agent-based simulation 

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Copyright information

© Springer Nature Switzerland AG 2019

Authors and Affiliations

  • Joon Park
    • 1
  • Ruzanna Chitchyan
    • 1
    Email author
  • Anastasia Angelopoulou
    • 2
  • Jordan Murkin
    • 1
  1. 1.University of BristolBristolUK
  2. 2.Columbus State UniversityColumbusUSA

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