A dedicated consensus algorithm for improving performance of futuristic energy blockchain

Charithri Yapa
,
Chamitha De Alwis
,
Uditha Lakmal Wijewardhana
,
Madhusanka Liyanage

University of Sri Jayewardenepura
,
University College Dublin

Research Output:

Chapter in Book/Report/Conference proceeding

Conference contribution

Peer-review

Sustainable Development Goals

SDG 7 Affordable and Clean Energy

Abstract

Integrating renewable energy generation in the consumer end has transformed users acting as both buyers and sellers. Uncoordinated interconnections lead to degraded power quality, which demands for continuous network monitoring. This study evaluates the applicability of the network monitoring process to develop a novel consensus protocol, customized for blockchain platforms integrated with smart grids. The motivation for integrating grid monitoring with the blockchain consensus mechanism lies in the significance of decentralized architectures such as distributed ledger technologies for future energy grids. Existing blockchain consensus mechanisms have exhibited excessive energy usage and low scalability due to the additional workload associated. Hence, the study proposes a customised solution, which has the advantage of combining grid monitoring with the blockchain consensus protocol. This eliminates the additional computation burden, reduces the cost of execution, and improves the transaction throughput of the blockchain consensus mechanism.

Publication Information

Output type

Research Output:

Chapter in Book/Report/Conference proceeding

Conference contribution

Peer-review

Original language

English

Publication milestones

Published - 28/02/2024

Publication status

Published - 28/02/2024

Publisher

Institute of Electrical and Electronics Engineers Inc., United States

Publication series

Publication series name: Digest of Technical Papers - IEEE International Conference on Consumer Electronics
ISSN (Print): 0747-668X
ISSN (Electronic): 2159-1423