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Sensors 2021, 21, 3822 2 of 32 ing more opportunities for monetizing the surplus energy. EV batteries, when not in use can be rented out to the community level storage provider to add to the storage capacity. Mahmud et al. [10] proposed a system for using community level storage for charging EVs and presented a decision tree based algorithm for peak load reduction through coordinated management of EV, photovoltaics and community level storage. Peak demand periods [11] present a challenge to the grid operator as they may require them to over provision grid capacity in order to maintain grid stability, thus increasing the marginal cost of electricity. Peak shaving strategies such as demand side response [12] are thus of particular importance to grid operators. An incentive based, direct to consumer demand response mechanism can be considered, allowing the power company to offer reward tokens to their customers in exchange for energy flexibility. As the prosumers are located in close proximity to each other, considering them as a prosumer community will allow the grid operator or power company to consider the required energy flexibility for the community as a whole [13]. In addition, the community structure can be used to increase interest and engagement by offering game based energy flexibility tasks [14]. Prosumers, EV owners, Power Companies and Storage Providers, by virtue of their relationships are stakeholders in a business network for transacting energy assets such as energy units, storage credits and reward tokens. An integrated solution is required to on- board the stakeholders and encapsulate the business network and relationships. As several small scale producers and consumers will constitute the network, a decentralized system is necessary in order to prevent the management from being concentrated in the hands of a single central entity. Moreover, all stakeholders must agree on the business logic and the transactions of energy assets must be immutable, transparent and verifiable to all. Provenance tracing of assets should also be enabled in order to make the system more trustworthy. Blockchain [15] is a distributed shared ledger that fulfils these requirements [16,17]. Due to its characteristics of decentralization and immutability it prevents any member from unilaterally making decisions on the network [18,19]. Members are required to seek consensus before adding any transactions to the ledger and transactions are transparent to all members. Transaction history of assets on the blockchain can be readily traced for establishing provenance. Blockchain implementations can be broadly categorized as permissioned or permis- sionless. Blockchain platforms such as Bitcoin [15] and Ethereum [20] are permissionless and allow anyone to join the network and perform transactions. Due to the anonymity inherent in these systems, computationally expensive consensus mechanisms such as Proof of Work are used due to the lack of any trust between transacting parties. Permissioned blockchain platforms such as Hyperledger Fabric [21] only permit authenticated parties to join the network and can have defined access permissions to dictate the privileges of each network member. As transactions are traceable to the invoking member, dependence on resource intensive consensus mechanisms is eliminated, thus reducing the operating cost. Authentication of clients also helps the network satisfy know your customer and anti money laundering requirements [22] imposed by many countries. Moreover, Hyperledger Fabric supports the encoding of business logic into smart contracts using popular general purpose programming languages such as Golang [23] to create and modify assets or tokens on the network where a token is defined as anything of value. The algorithms defining the business logic encoded as smart contracts in this work have been presented in Algorithms 1–11 . Hyperledger Fabric’s modular architecture allows the operator to tailor implemen- tation of trust models, transaction format and consensus mechanisms to the use case. Gur et al. [24] used Hyperledger Fabric to implement an energy metering system with privacy protection for smart grids. Che et al. [25] implemented a prosumer transaction system using Hyperledger Fabric with a focus on transaction authentication mechanisms. These features of Hyperledger Fabric thus, make it particularly suited for developing a peer to peer energy transaction system.PDF Image | Blockchain Based Transaction System with NFT
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