Conference Publication Details
Mandatory Fields
Subhasis Thakur, John Breslin
2020 IEEE International Conference on Environment and Electrical Engineering,
Cost Analysis of Blockchains-based Peer to Peer Energy Trade
2020
August
Published
1
()
Optional Fields
Spain
Blockchain is a promising platform for peer to peer energy trade as it lowers the cost of trade by eliminating 3rd parties to mediate among the prosumers. However, blockchain brings the cost in terms of computational resources used in mining blockchain transactions, the risk of data loss due to blockchain forks, and the security problems with double-spending attacks. The objective of this paper is to develop a cost analysis method of blockchain-based peer to peer energy trade systems as we analyze the tradeoffs among the cost of the blockchain network, its risk and security issues, and profit from the cheap energy price provided by a prosumer to another prosumer. We identify the factors which will lead to profitable blockchain-based peer to peer energy trade markets.
Science Foundation Ireland, SFI 16/RC/3835 (VistaMilk), SFI/12/RC/2289_P2 (Insight)
Grant Details
Science Foundation Ireland (SFI)
Science Foundation Ireland, SFI 16/RC/3835 (VistaMilk), SFI/12/RC/2289_P2 (Insight)
Publication Themes
Informatics, Physical and Computational Sciences