A Decentralized Network to Secure Smart Grid Transactions Using Ethereum on RISC-V

Increasing demand of renewable energy is driving the energy producers towards secured and decentralized network for energy trading. A decentralized framework could mitigate security threats in smart grid. Blockchain based smart contracts could improve the need of interaction producer and consumer by implementing reliable distributed transactions. This help to reduce interaction of third parties which causes security vulnerability. A decentralized infrastructure using Ethereum is proposed in this study. Ethereum keeps the track of transactions taken place from the consumers to the supply industries using crypto algorithms. Creating private node using Ethereum framework facilities the decentralization, anonymity, transparency and secure in the network. A private node using RISC-V platform is demonstrated in this paper. Smart contracts for the energy trading is written on solidity remix simulator and further validated on U540 RISC-V platform. End to end energy trading in smart grid using private Ethereum blockchain is demonstrated. Performance of the transaction, encryption and reliability of the application is validated over the platform.

I. Introduction

The increasing amount of renewable energy sources in the energy system calls for new market approaches to price and distribute the volatile and decentralized generation. Local energy markets, on which consumers and prosumers can trade locally produced renewable generation directly within their community, balance generation and consumption locally in a decentralized approach. We present a comprehensive concept, market design and simulation of a local energy market between 100 residential households. Our approach is based on a distributed information and communication technology, i.e., a private blockchain, which underlines the decentralized nature of local energy markets [1]. Thus, we provide energy prosumers and consumers with a decentralized market platform for trading local energy generation without the need of a central intermediary. Furthermore, we present a preliminary economic evaluation of the market mechanism and a research agenda for the technological evaluation of blockchain technology as the local energy market’s main information and communication technology [2]. Smart grids are becoming more popular than traditional grid system and ensure secure transactions in the network.