A Blockchain based Peer-to-peer Electricity Trading Mechanism in Residential Electricity Market

In this paper, we address the issue of electricity trading in residential electricity market. In recent years, the residential electricity trading has draw more and more attention, the households that produce excessive electricity sell electricity to households that lack of electricity, however the existence of the manage center brings a huge risk to users, once the center goes crashed, the households will suffer economics losses and there is a great possibility of the leakage of users' personal information. To tackle these issues, we propose a peer-to-peer electricity trading mechanism based on blockchain, under our mechanism each user has a distributed ledger maintained by all households and there is no existence of such a manage center, eliminating the danger of all users suffering huge economic losses when the management center goes crashed. Besides, each user in the market can have multiple virtual addresses that are used to sell and purchase electricity, and other users cansellers submit trading information includes unit pricenot identify their identities via virtual addresses, these virtual addresses protect users' privacy from leaking. The experimental results show the consumption of our proposed mechanism is logical and small, which illustrates the reasonability of our mechanism in time consumption.