A blockchain-based infrastructure for reliable and cost-effective IoT-aided smart grids
A blockchain-based infrastructure for reliable and cost-effective IoT-aided smart grids
One of the main trends in the evolution of smart grids is transactive energy, where distributed energy resources, e.g. smart meters, develop towards Internet-of-Things (IoT) devices enabling prosumers to trade energy directly among each other, without the need of involving any centralised third party. The expected advantages in terms of cost-effectiveness would be significant, indeed technical solutions are being investigated and large-scale deployment are planned by major utilities companies. However, introducing transactive energy in the smart grid entails new security threats, such as forging energy transactions.
This paper introduces an infrastructure to support reliable and cost-effective transactive energy, based on blockchain and smart contracts, where functionalities are implemented as fully decentralised applications. Energy transactions are stored in the blockchain, whose high replication level ensures stronger guarantees against tampering. Energy auctions are carried out according to transparent rules implemented as smart contracts, hence visible to all involved actors. Threats deriving from known vulnerabilities of smart meters are mitigated by temporarily keeping out exposed prosumers and updating their devices as soon as security patches become available.
IoT security, blockchain, smart meter, smart contract, transactive energy
Lombardi, Federico
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Aniello, Leonardo
9846e2e4-1303-4b8b-9092-5d8e9bb514c3
De Angelis, Stefano
3a260021-da00-4b26-b9f0-b91dcf70cb19
Margheri, Andrea
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Sassone, Vladimiro
df7d3c83-2aa0-4571-be94-9473b07b03e7
15 January 2018
Lombardi, Federico
78e41297-64c9-4c1e-9515-8eb59334a795
Aniello, Leonardo
9846e2e4-1303-4b8b-9092-5d8e9bb514c3
De Angelis, Stefano
3a260021-da00-4b26-b9f0-b91dcf70cb19
Margheri, Andrea
4b87c32d-3eaf-445e-8ac0-8207daace2e1
Sassone, Vladimiro
df7d3c83-2aa0-4571-be94-9473b07b03e7
Lombardi, Federico, Aniello, Leonardo, De Angelis, Stefano, Margheri, Andrea and Sassone, Vladimiro
(2018)
A blockchain-based infrastructure for reliable and cost-effective IoT-aided smart grids.
Living in the Internet of Things Conference: Cybersecurity of the IoT - A PETRAS, IoTUK & IET Event, Savoy Place, London, United Kingdom.
28 - 29 Mar 2018.
6 pp
.
Record type:
Conference or Workshop Item
(Paper)
Abstract
One of the main trends in the evolution of smart grids is transactive energy, where distributed energy resources, e.g. smart meters, develop towards Internet-of-Things (IoT) devices enabling prosumers to trade energy directly among each other, without the need of involving any centralised third party. The expected advantages in terms of cost-effectiveness would be significant, indeed technical solutions are being investigated and large-scale deployment are planned by major utilities companies. However, introducing transactive energy in the smart grid entails new security threats, such as forging energy transactions.
This paper introduces an infrastructure to support reliable and cost-effective transactive energy, based on blockchain and smart contracts, where functionalities are implemented as fully decentralised applications. Energy transactions are stored in the blockchain, whose high replication level ensures stronger guarantees against tampering. Energy auctions are carried out according to transparent rules implemented as smart contracts, hence visible to all involved actors. Threats deriving from known vulnerabilities of smart meters are mitigated by temporarily keeping out exposed prosumers and updating their devices as soon as security patches become available.
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Published date: 15 January 2018
Venue - Dates:
Living in the Internet of Things Conference: Cybersecurity of the IoT - A PETRAS, IoTUK & IET Event, Savoy Place, London, United Kingdom, 2018-03-28 - 2018-03-29
Keywords:
IoT security, blockchain, smart meter, smart contract, transactive energy
Identifiers
Local EPrints ID: 417098
URI: http://eprints.soton.ac.uk/id/eprint/417098
PURE UUID: 9a39363f-7920-4b08-9b0a-df3e55b4dfa5
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Date deposited: 19 Jan 2018 17:30
Last modified: 16 Mar 2024 04:32
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