Research Area:  Blockchain Technology

Abstract:

Energy storage provides an effective way of shifting temporal energy demands and supplies, which enables significant cost reduction under time-of-use energy pricing plans. Despite its promising benefits, the cost of present energy storage remains expensive, presenting a major obstacle to practical deployment. A more viable solution to improve the cost-effectiveness is by sharing energy storage, such as community sharing, cloud energy storage and peer-to-peer sharing. However, revealing private energy demand data to an external energy storage operator may compromise user privacy, and is susceptible to data misuses and breaches. In this paper, we explore a novel approach to support energy storage sharing with privacy protection, based on privacy-preserving blockchain and secure multi-party computation. We present an integrated solution to enable privacy-preserving energy storage sharing, such that energy storage service scheduling and cost-sharing can be attained without the knowledge of individual users demands. It also supports auditing and verification by the grid operator via blockchain. Furthermore, our privacy-preserving solution can safeguard against a majority of dishonest users, who may collude in cheating, without requiring a trusted third-party. We implemented our solution as a smart contract on real-world Ethereum blockchain platform, and provided empirical evaluation in this paper.

Keywords:  

Author(s) Name:  Nan Wang , Sid Chi-Kin Chau , Yue Zhou

Publisher name:  ACM

DOI:  10.1145/3508467.3508471

Volume Information:  Volume 1,Issue 1,November 2021,pp 32–50

Paper Link:   https://dl.acm.org/doi/abs/10.1145/3508467.3508471