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Blockchain is a nascent technology with the potential to disrupt the operational and business models of many industries. The enormous successes recorded by solutions underpinned by blockchain have attracted much attention to it. Beginning from the emergence of Bitcoin in the financial sector, blockchain has continued to impact other industries. It finds application in healthcare, supply chain, energy among other sectors. The technology has emerged as a viable technology for enabling decentralized peer-to-peer transactions. With the high adoption of renewable energy sources, the modern power system has become decentralized thereby paving the way for the integration of blockchain-based solutions. In the energy industry, blockchain can be employed to facilitate decentralised peer-to-peer energy transactions between power grid entities, energy storage sharing among others.
Key features:
- Walks the reader through the basics of blockchain and smart contract development in an easily comprehensible manner suitable for beginners in the field.
- Further simplifies smart contract development for specific energy-related use-cases
- Simplifies the specific use-cases explored, such that the reader is able to adapt the solutions to other similar applications beyond the energy industry.
- Presents recent advances in blockchain technology and the state-of-the-art in blockchain-related research in the energy industry, which would be useful to researchers in the field.
- Contains useful information for relevant regulatory bodies including the reported barriers to blockchain adoption and policy & regulatory frameworks for improved adoption.
1: Introduction to blockchain and smart contract development
Introduction
Blockchain-related concepts (Cryptographic hashing, private and public keys, merkle trees, blocks, smart contracts etc.)
Blockchain architectures (Private, Public & Consortium blockchains)
Consensus mechanisms (POW, POS, DPOS etc)
Remix IDE, Truffle, OpenZeppelin, Ganache etc.
Smart contract development using Remix IDE
Summary
References
2. Real-world blockchains and their applications
Bitcoin (History, applications, strengths/weaknesses, consensus mechanism, blockchain type-private/public etc)
Hyperledger Fabric
Ethereum
Cardano
Summary
References
3: A literature review of recent advances in blockchain technology
Introduction
Scalability of blockchain networks
Transaction speed in blockchain networks
Security of blockchain networks
Privacy in blockchain networks
Centralization in blockchain networks
Discussion
Future work
Conclusion
References
4: Blockchain applications by Industry with a focus on the energy industry
Introduction Supply chain (where/how blockchain comes in)
Healthcare
Water
Transportation
Finance
Energy (Power Ledger, Grid Singularity, Greeneum, Ecocoin, Solarcoin, Share & Charge, Lo3 Energy, Bankymoon etc.)
Summary
References
5. Drivers of blockchain adoption in the energy sector
Introduction
Climate change mitigation
Renewable energy adoption (Distributed energy resources)
Decentralized modern power grid
The emergence of prosumers
Pooling/sharing of resources for optimal capacity use
Conclusion
References
6: A systematic literature review on blockchain research in the energy industry
Introduction
Methodology
Results
Discussion
Future work
Conclusion
References
7. Blockchain-based P2P energy trading via a double auction mechanism
Introduction and literature review
Smart contract-based P2P energy trading architecture and algorithm
Case study, results and discussion
Conclusion
References
8. Blockchain-facilitated P2P energy storage capacity auctioning
Introduction and literature review
Smart contract-based P2P energy storage sharing architecture and algorithm
Case study, results and discussion
Conclusion
References
9. Smart contract for P2P sharing of EV charging station
Introduction and literature review
Smart contract-based P2P EV charging station sharing architecture and algorithm Case study, results and discussion
Conclusion
References
10. Future of blockchain technology and its adoption
Introduction
Current limitations of blockchain technology
Barriers to blockchain adoption
Policy and regulatory framework for improved blockchain adoption
Conclusion
References