Examining the Applicability of Blockchain to the Smart Grid Using Proof-of-Authority Consensus
Abstract
Security has been a major challenge in the smart grid since its adoption. This great concern let to proposal of the the application of blockchain technology to the smart grid. Blockchain is a growing list of records, called blocks, that are linked using cryptography and its transactions are validated by a consensus mechanism. The most known and trusted blockchain consensus mechanism is the proof-of-work (PoW) as it can process very little number of transactions per second. However, the proof-of-authority (PoA) consensus mechanism is scalable as it can process thousands of transactions per second without compromising security. This research focuses on the applicability of blockchain proof-of-authority consensus mechanism and how it ensures that transactions are confirmed on time and the integrity of the transactions are upheld in the blockchain. The proof-of-authority consensus mechanism is appropriate especially with the adoption of peer-to-peer energy trading between prosumers and consumers. This study proposes a peer-to-peer energy trading in an open blockchain with the help of the Advanced Metering Infrastructure (AMI) that enables smart meters to function optimally for this purpose.
About the Presenters
Ugonna Chikezie
Ugonna Chikezie is a graduate research assistant in the School of Engineering and Computer Science pursing an M.S. in Electrical Engineering. His research focuses on power and energy systems, mainly on integrating energy storage into the power grid where he modeled energy storage systems in MATLAB and proposed the implementation of the proof of authority blockchain consensus in electricity trading. He has a vast experience in engineering, computer science and finance having worked in these fields. Besides that, he is the current IEEE Oregon student activities chair and a volunteer with the American Red Cross.