Analysis of Block Chain Based Technologies Employed in Inter‐EV and Grid‐EV Energy Trade

Summary

The concept of data trading in automotive networks has been greatly enhanced by the dramatic growth of vehicle‐generated data in real time in different forms. EVs, on the other hand, are widely used as mobile energy carriers and their ability to charge and discharge in both directions has helped to facilitate distributed energy trading. Trade disputes and competing interests among trade parties occur frequently in the unreliable nature of the Internet of Electric Vehicles (IoEV), which includes hybrid vehicles and EVs. We use the consortium block chain to ensure transparency and trust in trade activity to overcome these issues. To address trading conflicts and criminal activity, smart contracts are used. We provide a thorough analysis of the opportunities that block chain technology may provide for securing the energy exchange activities of electric vehicles. To demonstrate the viability of block chain technology in the trade of electric car energy, we examine a number of block chain‐based methodologies and case studies and also discuss open issues to satisfy the demands of energy trading applications for electric vehicles.