A Comparative Analysis of Local and Global Blockchain For Energy Consumption

Multiple benefits of blockchain technology lead to its increasing use in various applications including energy trading. On smaller trading networks, local blockchain is utilized. It provides appreciable throughput and latency. However, it is less effective in terms of availability and decentralization. At the same time, blockchain is also used on a broader scale in networks for secure and truly decentralized data sharing. Accessibility and availability are not problems in such global blockchains. However, such blockchains have lower throughput and latency rates. This work’s simulation depicts the implementation of a local blockchain and its deployment on a worldwide server, resulting in the creation of a global blockchain network. The outcomes also demonstrate the throughput and latency effectiveness of local blockchain. Additionally, in this study, the integration of ESP32 hardware with software shows the results that energy consumption of load is stored on the blockchain.