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Blockchain based energy trading scheme for vehicle-to-vehicle using decentralized identifiers

Author

Listed:
  • Kim, Myeonghyun
  • Lee, Joonyoung
  • Oh, Jihyeon
  • Park, Kisung
  • Park, Youngho
  • Park, Kilhoum

Abstract

A blockchain-based energy trading system is a new paradigm of grid infrastructure, which allows that energy purchaser and seller can efficiently exchange the energy through two-way communication. However, because energy trading services are provided through public networks, these systems are vulnerable to potential security breaches. This paper proposed a privacy-preserving blockchain-based energy trading scheme for vehicle-to-vehicle to resolve the security issues of contemporary systems and provide secure energy trading services. The proposed scheme has high efficiency by applying decentralized identifiers and verifiable credentials technologies because the records of energy trading are not stored on blockchain and blockchain is only utilized in the validation of users. After completing the energy trading, the vehicle issues a verifiable credential to the counterpart to prove the legitimacy of the transaction. We also perform informal and formal security analysis to demonstrate its security and achieve secure mutual authentication, confidentiality, and session key security. Furthermore, we implement AVISPA simulation to show that our scheme is resistant to man-in-the-middle and replay attacks. As a result, the proposed scheme can be used in distributed smart grid environments.

Suggested Citation

  • Kim, Myeonghyun & Lee, Joonyoung & Oh, Jihyeon & Park, Kisung & Park, Youngho & Park, Kilhoum, 2022. "Blockchain based energy trading scheme for vehicle-to-vehicle using decentralized identifiers," Applied Energy, Elsevier, vol. 322(C).
    • Handle: RePEc:eee:appene:v:322:y:2022:i:c:s0306261922007723
    DOI: 10.1016/j.apenergy.2022.119445
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    References listed on IDEAS

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    1. Eiman ElGhanam & Ibtihal Ahmed & Mohamed Hassan & Ahmed Osman, 2021. "Authentication and Billing for Dynamic Wireless EV Charging in an Internet of Electric Vehicles," Future Internet, MDPI, vol. 13(10), pages 1-19, October.
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    Cited by:

    1. Qin, Meng & Zhang, Xiaojing & Li, Yameng & Badarcea, Roxana Maria, 2023. "Blockchain market and green finance: The enablers of carbon neutrality in China," Energy Economics, Elsevier, vol. 118(C).
    2. Tiande Mo & Yu Li & Kin-tak Lau & Chi Kin Poon & Yinghong Wu & Yang Luo, 2022. "Trends and Emerging Technologies for the Development of Electric Vehicles," Energies, MDPI, vol. 15(17), pages 1-34, August.
    3. Seunghwan Son & Jihyeon Oh & Deokkyu Kwon & Myeonghyun Kim & Kisung Park & Youngho Park, 2023. "A Privacy-Preserving Authentication Scheme for a Blockchain-Based Energy Trading System," Mathematics, MDPI, vol. 11(22), pages 1-19, November.

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