Blockchain Smart Contract-Enabled Secure Energy Trading for Electric Vehicles

Abstract

In this paper, a blockchain-enabled energy trading method is proposed to deal with the inefficiency and security issues in energy trading for electric vehicles in smart grids. It includes the design of a smart contract and the excitation mechanism of energy sharing. The credit points of each vehicle as a node are considered in the design of the smart contract, which is used to supervise the process of energy trading. A strategy to estimate the credit points of each node and describe the excitation mechanism is illustrated. The connection between the credit points and the probability that a node would be accepted for energy trading has been established. To control the energy trading access, a double auction method is used to choose the part of the nodes participating in energy trading. Only selected nodes with winning bids can supply or request energy from the blockchain-based platform. Then it reaches the conclusion that the higher the credit points they have, the more trading initiative they would have during the energy transaction and transmission. The smart contract design and the excitation mechanism proposed in this paper would reward the vehicles that perform well and punish the beguiling vehicles for regulating the trading process.