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

Ahsan Waseem, Mohd Bilal, Abhishek Bhardwaj, M. Saad Bin Arif, Taher M. Ghazal

Research output: Chapter in Book/Report/Conference proceedingConference contributionpeer-review

Abstract

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the industry, enhancing community resilience, accelerating renewable energy adoption, and reducing reliance on outdated technologies.

Original languageBritish English
Title of host publication2nd International Conference on Cyber Resilience, ICCR 2024
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9798350394962
DOIs
StatePublished - 2024
Event2nd International Conference on Cyber Resilience, ICCR 2024 - Dubai, United Arab Emirates
Duration: 26 Feb 202428 Feb 2024

Publication series

Name2nd International Conference on Cyber Resilience, ICCR 2024

Conference

Conference2nd International Conference on Cyber Resilience, ICCR 2024
Country/TerritoryUnited Arab Emirates
CityDubai
Period26/02/2428/02/24

Keywords

  • Blockchain Technology
  • Cryptocurrency
  • Energy Trading
  • Micro-grid
  • Renewable Energy

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