Electric Vehicle Power Trading Mechanism Based on Blockchain and Smart Contract in V2G Network

In order to realize peer-to-peer (P2P) transactions between electric vehicles (EVs) in vehicle-to-grid (V2G) networks, we propose an EV power trading model based on blockchain and smart contract. Firstly, based on the blockchain and smart contract technology, a decentralized power trading model is p...

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Bibliographic Details
Published in:IEEE access 2019, Vol.7, p.160546-160558
Main Authors: Liu, Haiqing, Zhang, Yan, Zheng, Shiqiang, Li, Yuancheng
Format: Article
Language:English
Subjects:
Blockchain
Cryptography
decentralization
Electric vehicles
Peer-to-peer computing
Power markets
reverse auctions
smart contract
Smart contracts
Social networks
State court decisions
V2G
Vehicle-to-grid
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Summary:In order to realize peer-to-peer (P2P) transactions between electric vehicles (EVs) in vehicle-to-grid (V2G) networks, we propose an EV power trading model based on blockchain and smart contract. Firstly, based on the blockchain and smart contract technology, a decentralized power trading model is proposed to realize the information equivalence and transparent openness of power trading. Then, considering the randomness and uncertainty of EV charging and discharging, the EV trading parties use the reverse auction mechanism based on dynamic pricing strategy to complete the transaction matching, which can not only improve the profit of the less competitive power seller, but also it can reduce the cost of the electricity purchaser. Finally, in order to verify the feasibility of our proposed scheme, V2G's EV power trading smart contract was designed, and the smart contract was released to Ethereum and simulated experiments were carried out. The effectiveness of the proposed scheme is verified by simulation experiments and comparison with traditional power trading schemes.
ISSN:2169-3536
2169-3536
DOI:10.1109/ACCESS.2019.2951057