JUCS - Journal of Universal Computer Science 25(10): 1240-1260, doi: 10.3217/jucs-025-10-1240
Research on Fair Trading Mechanism of Surplus Power Based on Blockchain
expand article infoZhuoqun Xia‡, Jingjing Tan‡, Jin Wang‡, Runnong Zhu‡, Hongguang Xiao‡, Arun Kumar Sangaiah§
‡ Changsha University of Science and Technology, Changsha, China§ Vellore Institute of Technology, Vellore, India

Corresponding author: Zhuoqun Xia ( xiazhuoqun@csust.edu.cn )

© Zhuoqun Xia, Jingjing Tan, Jin Wang, Runnong Zhu, Hongguang Xiao, Arun Sangaiah.
This is an open access article distributed under the terms of the Creative Commons Attribution License (CC BY-ND 4.0). This license allows reusers to copy and distribute the material in any medium or format in unadapted form only, and only so long as attribution is given to the creator. The license allows for commercial use.
Citation: Xia Z, Tan J, Wang J, Zhu R, Xiao H, Sangaiah AK (2019) Research on Fair Trading Mechanism of Surplus Power Based on Blockchain. JUCS - Journal of Universal Computer Science 25(10): 1240-1260. https://doi.org/10.3217/jucs-025-10-1240
Open Access
Abstract
The development of blockchain technology is very rapidly. As a decentralized distributed technology, the blockchain has become one of the most promising Internet applications, and its application in the power balance trading platform has also received extensive attention. In view of the information asymmetry between the trading center and the margin trading users in the power balance trading platform, it is difficult to guarantee the fairness of the transaction and affect the actual income of the production consumers. First, we analyze the trading mechanism of the power surplus market.Then we designed a smart contract for multi-party bidding power resources based on blockchain technology, and achieved the decentralized power trading decision to ensure the information is symmetric and fair.At the same time, the credibility model is established by analyzing the user's recent transaction records, and we design a corresponding punishment mechanism to strengthen the constraint on the execution of offline point-to-point power transactions.
Keywords
blockchain, smart contract, power margin trading, fairness