A privacy-preserving, sealed double-auction smart contract for Local Energy Markets

Funk F, Teske F, Franke J, Heider C, Konig M, Soukup O (2022)

Publication Type: Conference contribution

Publication year: 2022

Original Authors: Felix Funk, Franz Teske, Jorg Franke, Christian Heider, Manuel Konig, Oliver Soukup

Conference Proceedings Title: Workshop on Blockchain for Renewables Integration (BLORIN)

Event location: Palermo IT

DOI: 10.1109/BLORIN54731.2022.10028585

Abstract

The continued proliferation of renewable energy sources (RES) in the residential sector enables private households to increasingly participate in the energy market. However, it also poses an infrastructural challenge as their spatial dispersion and the simultaneity of their energy generation increase the strain on the main grid. Local energy markets (LEMs) have been proposed to amend this effect by leveraging market dynamics to efficiently allocate privately generated energy in the immediate vicinity. Blockchain has been suggested as suitable information technology to reflect and support the decentralization and the parity characteristic of such LEMs. While some research on the topic has been conducted, concerns regarding anonymity in the proposed markets remain. In this study, we hence conceptualize a Blockchain-based LEM which expands on previous designs by introducing a one-time-address-based anonymization technique. The proposed concept also extends the double auction mechanisms of existing LEMs by a sealed offering protocol, providing information symmetry. The concept is prototypically implemented and validated using a Proof of Authority Ethereum network. It is shown that the implementation is sufficiently scalable for proposed LEM sizes.

Authors with CRIS profile

Felix Funk Lehrstuhl für Fertigungsautomatisierung und Produktionssystematik Franz Teske Lehrstuhl für Fertigungsautomatisierung und Produktionssystematik Jörg Franke Lehrstuhl für Fertigungsautomatisierung und Produktionssystematik

Involved external institutions

iba AG DE Germany (DE)

How to cite

APA:

Funk, F., Teske, F., Franke, J., Heider, C., Konig, M., & Soukup, O. (2022). A privacy-preserving, sealed double-auction smart contract for Local Energy Markets. In Workshop on Blockchain for Renewables Integration (BLORIN). Palermo, IT.

MLA:

Funk, Felix, et al. "A privacy-preserving, sealed double-auction smart contract for Local Energy Markets." Proceedings of the 2022 Workshop on Blockchain for Renewables Integration (BLORIN), Palermo 2022.

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