Trusted Transactions in Micro-Grid Based on Blockchain

Abstract

In order to build a local electricity market (LEM), community members can trade electricity peer-to-peer (P2P) with their neighbors. This paper proposes a Hierarchical Bidding and Transaction Structure based on blockchain (HBTS). First, combined with the multi-agents, each microgrid corrects the estimated cost probability distribution of other microgrids by Bayesian theorem, making its probability closer to the accurate probability. Second, for maximize the benefits of the microgrid, this paper uses the Nash equilibrium in the Cournot model to find the optimal quotation and output of different bidding strategies for the microgrid under different power demand conditions. Then the exchange of electricity translates into an exchange of digital proof of electricity purchases and sales of electricity on the Hyperledger Fabric, ensuring the security of the transaction process and the irreparable modification of ledgers. Finally, we verify the effectiveness of the bidding strategy through experiments, and analyze the transaction process.