An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market
Data security of present-day power systems, such as the electricity market, has spurred global interest in both industry and academia. The electricity market can either be regulated (state-controlled entrance, policies, and pricing) or deregulated (open for competitors). While the security threats i...
| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2020-11-01
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| Series: | Inventions |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2411-5134/5/4/58 |
| _version_ | 1827701342098948096 |
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| author | Aasim Ullah S M Shahnewaz Siddiquee Md Akbar Hossain Sayan Kumar Ray |
| author_facet | Aasim Ullah S M Shahnewaz Siddiquee Md Akbar Hossain Sayan Kumar Ray |
| author_sort | Aasim Ullah |
| collection | DOAJ |
| description | Data security of present-day power systems, such as the electricity market, has spurred global interest in both industry and academia. The electricity market can either be regulated (state-controlled entrance, policies, and pricing) or deregulated (open for competitors). While the security threats in a deregulated electricity market are commonly known and have been investigated for years, those in a regulated market still have scope for extensive research. Our current work focuses on exploring the data security of the regulated electricity market, and the regulated New Zealand Electricity Market (NZEM) has been considered for this research. Although the chances of cyberattacks on state-controlled regulated electricity market are relatively less, different layers of the current SCADA systems do pose some threats. In this context, we propose a decentralized Ethereum Blockchain-based end-to-end security prototype for a regulated electricity market such as the NZEM. This prototype aims to enhance data security between the different layers of the current SCADA systems. The detailed operation process and features of this prototype are presented in this work. The proposed prototype has prospects of offering improved data security solutions for the regulated electricity market. |
| first_indexed | 2024-03-10T14:31:16Z |
| format | Article |
| id | doaj.art-962eae36fdb44e76b64345d4e8d83110 |
| institution | Directory Open Access Journal |
| issn | 2411-5134 |
| language | English |
| last_indexed | 2024-03-10T14:31:16Z |
| publishDate | 2020-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Inventions |
| spelling | doaj.art-962eae36fdb44e76b64345d4e8d831102023-11-20T22:32:39ZengMDPI AGInventions2411-51342020-11-01545810.3390/inventions5040058An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity MarketAasim Ullah0S M Shahnewaz Siddiquee1Md Akbar Hossain2Sayan Kumar Ray3School Engineering, Computer and Mathematical Sciences, Auckland University of Technology, Auckland 1010, New ZealandDepartment of Energy Engineering, University College Cork, College Rd, T12HY8E Cork, IrelandSchool of Digital Technologies, Manukau Institute of Technology, Manukau 92068, New ZealandSchool of Digital Technologies, Manukau Institute of Technology, Manukau 92068, New ZealandData security of present-day power systems, such as the electricity market, has spurred global interest in both industry and academia. The electricity market can either be regulated (state-controlled entrance, policies, and pricing) or deregulated (open for competitors). While the security threats in a deregulated electricity market are commonly known and have been investigated for years, those in a regulated market still have scope for extensive research. Our current work focuses on exploring the data security of the regulated electricity market, and the regulated New Zealand Electricity Market (NZEM) has been considered for this research. Although the chances of cyberattacks on state-controlled regulated electricity market are relatively less, different layers of the current SCADA systems do pose some threats. In this context, we propose a decentralized Ethereum Blockchain-based end-to-end security prototype for a regulated electricity market such as the NZEM. This prototype aims to enhance data security between the different layers of the current SCADA systems. The detailed operation process and features of this prototype are presented in this work. The proposed prototype has prospects of offering improved data security solutions for the regulated electricity market.https://www.mdpi.com/2411-5134/5/4/58SCADAblockchainEthereumsecurityelectricity market |
| spellingShingle | Aasim Ullah S M Shahnewaz Siddiquee Md Akbar Hossain Sayan Kumar Ray An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market Inventions SCADA blockchain Ethereum security electricity market |
| title | An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market |
| title_full | An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market |
| title_fullStr | An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market |
| title_full_unstemmed | An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market |
| title_short | An Ethereum Blockchain-Based Prototype for Data Security of Regulated Electricity Market |
| title_sort | ethereum blockchain based prototype for data security of regulated electricity market |
| topic | SCADA blockchain Ethereum security electricity market |
| url | https://www.mdpi.com/2411-5134/5/4/58 |
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