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Blockchain-based microgrid distributed power transaction model

Compared with the traditional centralized power transaction mode, the distributed power transaction in the microgrid has the advantages of high transaction efficiency, low transaction cost and high privacy, while the characteristics of the block-chain, such as decentralization, transparency, openness and immutability, are highly consistent with the distributed power transaction mode. This paper proposes a blockchain-based microgrid distributed power trading mechanism that provides consumers with the opportunity to contribute to the grid through renewable energy. By integrating a smart microgrid, the system will remain functional during isolation from the national grid, while allowing energy within the system to be consumed nearby. Through aggregation agents in the microgrid and infrastructure such as smart electricity meters, participants can share the generated energy for profit. Moreover, all the transformations are carried out under the condition that the preset conditions are satisfied. Due to the characteristics of blockchain, no participant can change the data, making the system more reliable.