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Real-Time Bidding Model of Cryptocurrency Energy Trading Platform

Author

Listed:
  • Yue Wu

    (Business School, University of Shanghai for Science and Technology, Shanghai 200093, China)

  • Junxiang Li

    (Business School, University of Shanghai for Science and Technology, Shanghai 200093, China)

  • Jin Gao

    (Business School, University of Shanghai for Science and Technology, Shanghai 200093, China)

Abstract

Blockchain technology provides a comprehensive solution to user access and energy trading for distributed energy Internet. Achieving market-based pricing, increasing the earnings of energy suppliers, attracting foreign capital and facilitating the upgrade of solar and wind energy are pressing issues. Drawing on the practices of centralised exchanges and blockchain cryptocurrency, the author designed the Cryptocurrency Energy Trading Platform (CETP), dividing the permissioned blockchain into the Energy Blockchain Platform (EBP) and the Energy Cryptocurrency Exchange (ECE). The frequently used real-time bidding scenario and the seldom-used power-using scenario are separated from each other. A market welfare model for real-time bidding is established and verified. With Energy Blockchain Cryptocurrency (EBC) as the trading medium, the platform allows external bidders to get involved in the bidding and transactions, which not only attracts the social capital to be used in the development of energy Internet but also helps stabilise the energy market prices, thus, advancing the energy Internet.

Suggested Citation

  • Yue Wu & Junxiang Li & Jin Gao, 2021. "Real-Time Bidding Model of Cryptocurrency Energy Trading Platform," Energies, MDPI, vol. 14(21), pages 1-14, November.
    • Handle: RePEc:gam:jeners:v:14:y:2021:i:21:p:7216-:d:670574
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    References listed on IDEAS

    as
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    Cited by:

    1. Serkan Seven & Yeliz Yoldas & Ahmet Soran & Gulay Yalcin Alkan & Jaesung Jung & Taha Selim Ustun & Ahmet Onen, 2022. "Energy Trading on a Peer-to-Peer Basis between Virtual Power Plants Using Decentralized Finance Instruments," Sustainability, MDPI, vol. 14(20), pages 1-16, October.

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