Title

A Block-Free Distributed Ledger for P2P Energy Trading: Case with IOTA?

Document Type

Conference Proceeding

Publication Date

1-1-2019

Publication Title

Lecture Notes in Computer Science (including subseries Lecture Notes in Artificial Intelligence and Lecture Notes in Bioinformatics)

Volume

11483 LNCS

First Page

111

Last Page

125

Keywords

Agent-based simulation, Block-free ledger, Blockchain, DAG-based distributed ledger, IOTA, Peer to peer energy trading platform

Abstract

& #x00A9; 2019, Springer Nature Switzerland AG. Across the world, the organisation and operation of the electricity markets is quickly changing, moving towards decentralised, distributed, renewables-based generation with real-time data exchange-based solutions. In order to support this change, blockchain-based distributed ledgers have been proposed for implementation of peer-to-peer energy trading platform. However, blockchain solutions suffer from scalability problems as well as from delays in transaction confirmation. This paper explores the feasibility of using IOTA’s DAG-based block-free distributed ledger for implementation of energy trading platforms. Our agent-based simulation research demonstrates that an IOTA-like DAG-based solution could overcome the constraints that blockchains face in the energy market. However, to be usable for peer-to-peer energy trading, even DAG-based platforms need to consider specificities of energy trading markets (such as structured trading periods and assured confirmation of transactions for every completed period).

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