A decentralized Ethereum platform for smart energy trading : Designing and implementing an eAuction application for energy trading on the Ethereum blockchain by using smart contracts

Abstract

The modern energy grid is constantly improving its efficiency and flexibility by adopting new technology. Regional energy providers, however, have a monopolistic role in deciding market prices, and their motives have been criticized for focusing on their own profit. Microgrids have seen a large adoption partly due to their ability to supplement a local grid with alternative renewable energy sources. A decentralized auction platform would allow the users to trade energy within their local microgrids. The platform could also allow households with energy production means like solar panels to sell their excess energy, reducing the regional providers’ and intermediaries such as energy brokers’ role in the current grid system while improving green energy utilization. This thesis proposes an auction application developed on the blockchain protocol Ethereum. The proposed solution would allow users to buy and sell energy using the underlaying Ethereum network, making it a decentralized trading platform. The plat-form’s security has been addressed by prioritizing security throughout the process; from the initial design phase to the creation of the solution prototype. Furthermore, quality assurance of the solution was evaluated with unit tests that addressed the implementation code, and a security analysis of the solution was conducted with respect to the users’ security requirements.