Efficient Blockchain-Based Energy Auction Platform for Secured Energy Trading on Industrial Applications 


Vol. 48,  No. 7, pp. 885-895, Jul.  2023
10.7840/kics.2023.48.7.885


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  Abstract

Electricity is vital for numerous aspects of human existence, including the operation of electronic devices and the maintenance of vital infrastructure. Even minor electronic devices and essential infrastructures cease functioning without electricity. The industrial and manufacturing sectors depend on a consistent and reliable energy supply because any mismatch between supply and demand can result in significant financial losses. Therefore, a solution is required to address the imbalance between energy supply and demand, particularly in the industrial sector. This study proposes a blockchain-based smart contract for energy auctions that will provide a safe and secure auction system with transparent and low maintenance costs referred to as gas costs, to enable industries to efficiently acquire energy from an energy supplier. The proposed smart contract is secure, effective, and user-friendly.

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  Cite this article

[IEEE Style]

Allwinnaldo, M. R. R. Ansori, R. N. Alief, J. M. Lee, D. Kim, "Efficient Blockchain-Based Energy Auction Platform for Secured Energy Trading on Industrial Applications," The Journal of Korean Institute of Communications and Information Sciences, vol. 48, no. 7, pp. 885-895, 2023. DOI: 10.7840/kics.2023.48.7.885.

[ACM Style]

Allwinnaldo, Muhammad Rasyid Redha Ansori, Revin Naufal Alief, Jae Min Lee, and Dong-Seong Kim. 2023. Efficient Blockchain-Based Energy Auction Platform for Secured Energy Trading on Industrial Applications. The Journal of Korean Institute of Communications and Information Sciences, 48, 7, (2023), 885-895. DOI: 10.7840/kics.2023.48.7.885.

[KICS Style]

Allwinnaldo, Muhammad Rasyid Redha Ansori, Revin Naufal Alief, Jae Min Lee, Dong-Seong Kim, "Efficient Blockchain-Based Energy Auction Platform for Secured Energy Trading on Industrial Applications," The Journal of Korean Institute of Communications and Information Sciences, vol. 48, no. 7, pp. 885-895, 7. 2023. (https://doi.org/10.7840/kics.2023.48.7.885)
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