Research Area:  Blockchain Technology

Abstract:

Electric power grid infrastructure has revolutionized our world and changed the way of living. So has blockchain technology. The hierarchical electric power grid has been shifting from a centralized structure to a decentralized structure to achieve higher flexibility and stability, and blockchain technology has been widely adopted in the energy sector to deal with grid management, billing, metering, and so on, because of its nature of decentralization. Here, the aim is to provide a multi-dimensional review on the technological advances of the blockchain in smart grids. Its corresponding applications based on these advances, including company projects and use cases, are summarized. Furthermore, the security threat issues in smart grids, Ethereum Virtual Machine (i.e. the operating environment of consensus mechanisms), and smart contracts are analysed, with a brief conclusion to manifest the prior tasks in building secure blockchain-based infrastructures in smart grids. As such, the challenges and features of different protocols and their applicability in each use case are identified to provide an insightful guide for future research studies.

Keywords:  

Author(s) Name:  Chao Liu,Xiaoshuai Zhang,Kok Koeng Chai,Jonathan Loo,Yue Chen

Publisher name:  John Wiley & Sons

DOI:  10.1049/smc2.12010

Volume Information:  Volume3, Issue2

Paper Link:   https://ietresearch.onlinelibrary.wiley.com/doi/full/10.1049/smc2.12010