Secure Electricity Trading and Incentive Contract Model for Electric Vehicle Based on Energy Blockchain

Abstract

As a neoteric high-tech product, electric vehicles (EVs) can effectively solve the problems of energy shortages and environmental pollution. On the one hand, EV can relieve the peak load of a smart grid and improve the electricity system operation. On the other hand, EV's electricity trading information can provide useful data for vehicle management departments to electricity scheduling. However, hackers can easily obtain data from the central database to simulate both parties involved, which leads to the receiver getting unauthorized information. For these challenges, we propose a novel secure electricity trading and incentive contract model based on the basic rules of China's electricity market. The digital signature technology adopts elliptic curve bilinear pairing to guarantee the reliability and integrity of the transaction information. Energy blockchain is utilized for encryption and distributed storage of energy data with the possession of tamper-proof and traceability. The consistency part of the data block applies a practical Byzantine fault-tolerant (PBFT) algorithm, which not only increases transaction throughput but also reduces transmission delay. The incentive contract based on revenue rewards can promote the benign interaction of EVs. The security analysis reveals that this scheme can achieve better results. Compared with other schemes, our scheme saves about 64.55% of the communication overhead and validates the same number of signed messages in a shorter time. Incentive contracts based on game theory can facilitate EV electricity trading through energy coin rewards. This mechanism makes EV more willing and active to participate in transactions that guarantee the activity and stability of the network.