FogChain - constructing a blockchain-based power trading system
As the world move towards sustainable energy, microgrids (self-sufficient, clean, decentralized energy system) has an accelerated CAGR (Compound Annual Growth Rate) of 12.86% which dictates that the market size will increase by USD 15 billion in the next three years. This market opportunity deman...
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| Format: | Final Year Project (FYP) |
| Language: | English |
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Nanyang Technological University
2022
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| Online Access: | https://hdl.handle.net/10356/156602 |
| _version_ | 1826129933906214912 |
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| author | Lee, Larry Ken Ann |
| author2 | Wen Yonggang |
| author_facet | Wen Yonggang Lee, Larry Ken Ann |
| author_sort | Lee, Larry Ken Ann |
| collection | NTU |
| description | As the world move towards sustainable energy, microgrids (self-sufficient, clean, decentralized energy system) has an accelerated CAGR (Compound Annual Growth Rate) of 12.86% which dictates that the market size will increase by USD 15 billion in the next three years.
This market opportunity demands for new and novel solutions to regulate the operations of the many decentralized microgrids. Specifically, facilitating the transfer of energy and money among microgrid participants.
FogChain, an intelligent microgrid management system powered by Blockchain and Fog Computing, aims to become a key market player in this segment. The development of Fog Chain has been in progress by a broader team since 2020.
FogChain aims to further develop and validate its core functionalities, energy trading and microgrids management, while conducting realistic demonstrations for investors to provide additional funding to realize the project.
Further validation of the FogChain system relies on the construction of simulated microgrids (Digital Twin). The microgrids simulation developed in this paper would go on to provide the FogChain team a realistic virtual testing ground to conduct further experiments and tests. As the project move towards real-world deployment, the importance of the Digital Twin System will continue to grow and serve as the key execution layer between FogChain and the physical world. |
| first_indexed | 2024-10-01T07:48:37Z |
| format | Final Year Project (FYP) |
| id | ntu-10356/156602 |
| institution | Nanyang Technological University |
| language | English |
| last_indexed | 2024-10-01T07:48:37Z |
| publishDate | 2022 |
| publisher | Nanyang Technological University |
| record_format | dspace |
| spelling | ntu-10356/1566022022-04-21T02:32:44Z FogChain - constructing a blockchain-based power trading system Lee, Larry Ken Ann Wen Yonggang School of Computer Science and Engineering YGWEN@ntu.edu.sg Engineering::Computer science and engineering As the world move towards sustainable energy, microgrids (self-sufficient, clean, decentralized energy system) has an accelerated CAGR (Compound Annual Growth Rate) of 12.86% which dictates that the market size will increase by USD 15 billion in the next three years. This market opportunity demands for new and novel solutions to regulate the operations of the many decentralized microgrids. Specifically, facilitating the transfer of energy and money among microgrid participants. FogChain, an intelligent microgrid management system powered by Blockchain and Fog Computing, aims to become a key market player in this segment. The development of Fog Chain has been in progress by a broader team since 2020. FogChain aims to further develop and validate its core functionalities, energy trading and microgrids management, while conducting realistic demonstrations for investors to provide additional funding to realize the project. Further validation of the FogChain system relies on the construction of simulated microgrids (Digital Twin). The microgrids simulation developed in this paper would go on to provide the FogChain team a realistic virtual testing ground to conduct further experiments and tests. As the project move towards real-world deployment, the importance of the Digital Twin System will continue to grow and serve as the key execution layer between FogChain and the physical world. Bachelor of Engineering (Computer Science) 2022-04-21T02:32:44Z 2022-04-21T02:32:44Z 2022 Final Year Project (FYP) Lee, L. K. A. (2022). FogChain - constructing a blockchain-based power trading system. Final Year Project (FYP), Nanyang Technological University, Singapore. https://hdl.handle.net/10356/156602 https://hdl.handle.net/10356/156602 en FogChain: A Blockchain-Based Peer-to-Peer Solar Power Trading System Powered by Fog AI / 10.1109/JIOT.2021.3109057 application/pdf Nanyang Technological University |
| spellingShingle | Engineering::Computer science and engineering Lee, Larry Ken Ann FogChain - constructing a blockchain-based power trading system |
| title | FogChain - constructing a blockchain-based power trading system |
| title_full | FogChain - constructing a blockchain-based power trading system |
| title_fullStr | FogChain - constructing a blockchain-based power trading system |
| title_full_unstemmed | FogChain - constructing a blockchain-based power trading system |
| title_short | FogChain - constructing a blockchain-based power trading system |
| title_sort | fogchain constructing a blockchain based power trading system |
| topic | Engineering::Computer science and engineering |
| url | https://hdl.handle.net/10356/156602 |
| work_keys_str_mv | AT leelarrykenann fogchainconstructingablockchainbasedpowertradingsystem |