Please use this identifier to cite or link to this item:
Title: A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction
Authors: Wang, Jian
Wang, Qianggang
Zhou, Niancheng
Chi, Yuan
Keywords: Microgrid Market
Electricity Transaction
Issue Date: 2017
Source: Wang, J., Wang, Q., Zhou, N., & Chi, Y. (2017). A Novel Electricity Transaction Mode of Microgrids Based on Blockchain and Continuous Double Auction. Energies, 10(12), 1971-.
Series/Report no.: Energies
Abstract: The installed capacity of distributed generation (DG) based on renewable energy sources has increased continuously in power systems, and its market-oriented transaction is imperative. However, traditional transaction management based on centralized organizations has many disadvantages, such as high operation cost, low transparency, and potential risk of transaction data modification. Therefore, a decentralized electricity transaction mode for microgrids is proposed in this study based on blockchain and continuous double auction (CDA) mechanism. A buyer and seller initially complete the transaction matching in the CDA market. In view of the frequent price fluctuation in the CDA market, an adaptive aggressiveness strategy is used to adjust the quotation timely according to market changes. DG and consumer exchange digital certificate of power and expenditure on the blockchain system and the interests of consumers are then guaranteed by multi-signature when DG cannot generate power due to failure or other reasons. The digital certification of electricity assets is replaced by the sequence number with specific tags in the transaction script, and the size of digital certification can be adjusted according to transaction energy quantity. Finally, the feasibility of market mechanism through specific microgrid case and settlement process is also provided.
ISSN: 1996-1073
DOI: 10.3390/en10121971
Rights: © 2017 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (
Fulltext Permission: open
Fulltext Availability: With Fulltext
Appears in Collections:EEE Journal Articles

Google ScholarTM



Items in DR-NTU are protected by copyright, with all rights reserved, unless otherwise indicated.