Smart Contract Development for Peer-to-Peer Energy Trading

Budak C., Erdogan U., Kufeoglu S.

7th IEEE International Energy Conference, ENERGYCON 2022, Riga, Latvia, 9 - 12 May 2022 identifier

  • Publication Type: Conference Paper / Full Text
  • Doi Number: 10.1109/energycon53164.2022.9830493
  • City: Riga
  • Country: Latvia
  • Keywords: Blockchain, energy, Ethereum, Peer-to-Peer (P2P), smart contracts, solidity
  • Istanbul Technical University Affiliated: Yes

Abstract

© 2022 IEEE.In this paper, the analysis of peer-to-peer energy trading with smart contracts, which are applications run on blockchains, is presented. The software architecture and algorithm of the smart contracts that run on the Ethereum Virtual Machine are mentioned. The smart contracts are applied transactions that guarantee the information of both parties in a peer-to-peer transmission and are verified by the logic structure that operates within itself and do not cause any vulnerabilities in the system. In addition, a software background with an instrument panel in the user interface and offering prices within the framework of the supply-demand relationship is presented. In addition to these, the paper aims to promote decentralisation by integrating renewable energy sources with the framework of peer-to-peer trading methods on a Blockchain.