Paper 2022/1471
Bid-Matching Problem and Score-Based Consensus for Peer-to-Peer Energy Trading
Abstract
The demand for peer-to-peer (P2P) energy trading systems (ETS) grows alongside the development of house renewable energy generation. A P2P/ETS enables its peers to trade energy freely as in a double auction market. It requires a ledger to record peers' trading history. A typical approach is relying on a decentralized ledger, e.g., blockchain, with smart contract capabilities, unavoidably incurring high costs. Therefore, motivated to build a smart contract-free system, this work proposes a novel blockchain and consensus design utilizing the double auction characteristics of P2P/ETS. Concretely, we first revisit the blockchain data structure so that it can reflect auction bids. Next, we introduce a novel mining mechanism utilizing a bid-matching problem (BMP), which requires miners to find the best combination sets of sell/buy bids according to a given scoring function. Hence, the miner who mines the best-scored block can extend the blockchain. The fundamental difference between the BMP-based mining and traditional proof-of-X schemes, e.g., work or stake, is that our protocol selects blocks instead of miners. That is, a higher-scored block has better contents (bids and transactions), thus being preferable to a lower-scored block regardless of whether the miner is honest. Finally, we analyze miners' local chain dynamics and show a bound for the score distribution of the scoring function to prove that the protocol satisfies the key properties of consensus, i.e., persistence and liveness.
Metadata
- Available format(s)
-
PDF
- Category
- Cryptographic protocols
- Publication info
- Preprint.
- Keywords
- Peer-to-Peer Energy Trading Blockchain Protocol Proof-of-Work
- Contact author(s)
-
su x ab @ m titech ac jp
mario larangeira @ iohk io
keisuke @ is titech ac jp - History
- 2022-10-27: approved
- 2022-10-27: received
- See all versions
- Short URL
- https://ia.cr/2022/1471
- License
-
CC BY
BibTeX
@misc{cryptoeprint:2022/1471, author = {Xiangyu Su and Xavier Défago and Mario Larangeira and Kazuyuki Mori and Takuya Oda and Yuta Okumura and Yasumasa Tamura and Keisuke Tanaka}, title = {Bid-Matching Problem and Score-Based Consensus for Peer-to-Peer Energy Trading}, howpublished = {Cryptology ePrint Archive, Paper 2022/1471}, year = {2022}, note = {\url{https://eprint.iacr.org/2022/1471}}, url = {https://eprint.iacr.org/2022/1471} }