A high-performance local energy trading cyber-physical system based on blockchain technology

The traditional electricity markets are facing challenges in integrating the distributed generation extensively. However, the local energy markets have the potential to support the local integration of DG and facilitate the local balance of energy supply and demand. The operation and management of local energy markets require support from the efficient and reliable information technology. Blockchain technology has the potential to be used in local energy trading, but it is difficult to support frequent trades among the rising number of market participants, due to the basic design principle of the technology. Therefore, we present the off-chain energy trading method and an asynchronous transaction recording mechanism to ensure the efficiency of energy trading procedures. To support off-chain energy trading, we design a local energy trading cyber-physical system. The overview of the local energy market and the framework of the blockchain-based local energy trading system are illustrated respectively.