Blockchain-based smart grid power trading technology

Abstract To improve the security and efficiency of smart grid power trading, this study designs a smart grid trading system based on blockchain technology. The transaction module of the system composed of smart contracts and order-matching algorithms is proposed. The credit consensus mechanism of the system adopts a designed credit-based hybrid consensus mechanism. The experimental results showed that under this system, the successful transaction prices of consumers bidding were between the grid price and the recycling price, making bidding more reasonable. The highest power utilization rate was 0.84, the lowest was 0.67, and the transaction throughput exceeded 350TPS. The highest CPU usage was 0.74, the lowest was 0.5, and the highest memory usage was only 0.44. Compared with other systems, the order matching of this system was more reasonable and its performance was better. Furthermore, the system has been subjected to rigorous security testing and is reliable, thereby providing a secure and efficient trading platform for smart grid electricity trading.