Cryptocurrency-Enabled Energy Trading in Micro-Grid Using Blockchain Technology

This article explores energy trading in grid-connected microgrids powered by renewable sources, utilizing cryptocurrency and blockchain technology. Through net metering, it emphasizes the proactive roles of prosumers and consumers in managing excess energy. The study investigates peer-to-peer energy...

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Bibliographic Details
Published in:	2024 2nd International Conference on Cyber Resilience (ICCR) pp. 1 - 7
Main Authors:	Waseem, Ahsan, Bilal, Mohd, Bhardwaj, Abhishek, Bin Arif, M Saad, Ghazal, Taher M.
Format:	Conference Proceeding
Language:	English
Published:	IEEE 26-02-2024
Subjects:	Blockchain Technology Blockchains Cryptocurrency Energy Trading Micro-grid Regulation Renewable Energy Renewable energy sources Scalability Shape Smart contracts
Online Access:	Get full text
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Summary:	This article explores energy trading in grid-connected microgrids powered by renewable sources, utilizing cryptocurrency and blockchain technology. Through net metering, it emphasizes the proactive roles of prosumers and consumers in managing excess energy. The study investigates peer-to-peer energy transfers with blockchain-based cryptocurrencies, high-lighting their advantages in affordability, trade efficiency, and openness. Real-world case like LO3 Energy and Power Ledger are examined to address regulation, scalability, and cybersecurity concerns. The paper explores blockchain-enabled energy trade revolutionizing the industry, enhancing community resilience, accelerating renewable energy adoption, and reducing reliance on outdated technologies.
DOI:	10.1109/ICCR61006.2024.10533150