Novel implementation of a blockchain-based energy trading engine
Contemporary trends suggest a growing interest in decentralised electrical grids. These “microgrids” involve power generation at the household and municipal level, enough for self-sufficiency. Excess electricity can be supplied to consumers for a price. This project facilitates the trading of energ...
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| Format: | Final Year Project (FYP) |
| Language: | English |
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Nanyang Technological University
2020
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| Online Access: | https://hdl.handle.net/10356/139467 |
| _version_ | 1811690452126007296 |
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| author | Ye, Fan |
| author2 | Wen Yonggang |
| author_facet | Wen Yonggang Ye, Fan |
| author_sort | Ye, Fan |
| collection | NTU |
| description | Contemporary trends suggest a growing interest in decentralised electrical grids. These “microgrids” involve power generation at the household and municipal level, enough for self-sufficiency. Excess electricity can be supplied to consumers for a price.
This project facilitates the trading of energy between producers and consumers within the microgrid. This is done through the design and implementation of a trading engine and matching algorithms.
Due to the decentralised nature of the microgrid, energy trading will be done on the blockchain. Out algorithms are built and deployed onto the Ethereum blockchain network in the form of multiple smart contracts. Once deployed, the system receives buy and sell bids from consumers and producers, match them, and monitors the fulfilment. The matching is based on a custom “Double Auction” algorithm. These contracts will oversee orders, clearings, and settlements. The use of blockchain technology promises automation and trust between independent parties.
The project has fulfilled its basic requirements. It will continue to be in development to add on more advanced features for real world application. |
| first_indexed | 2024-10-01T06:04:13Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/139467 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T06:04:13Z |
| publishDate | 2020 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1394672020-05-19T11:32:36Z Novel implementation of a blockchain-based energy trading engine Ye, Fan Wen Yonggang School of Computer Science and Engineering Thusitha Bandara ygwen@ntu.edu.sg Engineering::Computer science and engineering::Computing methodologies::Artificial intelligence Engineering::Computer science and engineering::Software::Software engineering Contemporary trends suggest a growing interest in decentralised electrical grids. These “microgrids” involve power generation at the household and municipal level, enough for self-sufficiency. Excess electricity can be supplied to consumers for a price. This project facilitates the trading of energy between producers and consumers within the microgrid. This is done through the design and implementation of a trading engine and matching algorithms. Due to the decentralised nature of the microgrid, energy trading will be done on the blockchain. Out algorithms are built and deployed onto the Ethereum blockchain network in the form of multiple smart contracts. Once deployed, the system receives buy and sell bids from consumers and producers, match them, and monitors the fulfilment. The matching is based on a custom “Double Auction” algorithm. These contracts will oversee orders, clearings, and settlements. The use of blockchain technology promises automation and trust between independent parties. The project has fulfilled its basic requirements. It will continue to be in development to add on more advanced features for real world application. Bachelor of Engineering (Computer Engineering) 2020-05-19T11:32:36Z 2020-05-19T11:32:36Z 2020 Final Year Project (FYP) https://hdl.handle.net/10356/139467 en SCSE 19-0554 application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Computer science and engineering::Computing methodologies::Artificial intelligence Engineering::Computer science and engineering::Software::Software engineering Ye, Fan Novel implementation of a blockchain-based energy trading engine |
| title | Novel implementation of a blockchain-based energy trading engine |
| title_full | Novel implementation of a blockchain-based energy trading engine |
| title_fullStr | Novel implementation of a blockchain-based energy trading engine |
| title_full_unstemmed | Novel implementation of a blockchain-based energy trading engine |
| title_short | Novel implementation of a blockchain-based energy trading engine |
| title_sort | novel implementation of a blockchain based energy trading engine |
| topic | Engineering::Computer science and engineering::Computing methodologies::Artificial intelligence Engineering::Computer science and engineering::Software::Software engineering |
| url | https://hdl.handle.net/10356/139467 |
| work_keys_str_mv | AT yefan novelimplementationofablockchainbasedenergytradingengine |