The possibility of using blockchain based cryptocurrency in transactive energy markets: ongoing activities and opportunities ahead

With increasing the penetration of renewable energy resources (RERs) in recent years, the energy market is encountered with remarkable challenges about the energy balancing and trading in the power system. To consider the mentioned challenges, transactive energy (TE) market is structured with the aim of balancing energy demand and supply and control, coordinate, and manage the energy trading between the all power grid suppliers and consumers using the definition of optimal set points for intelligent devices by advanced agents. Because of insufficient security of energy exchanges among all market players in this architecture, TE technology need to integrate with new, secured, and decentralized technologies to provide immediate and safe energy transactions between market participants without any costly intermediaries. With the recent advances in digital currency technologies, cryptocurrency based on the blockchain technology can guarantee the security of financial transactions using the cryptographic techniques, which can be a good idea for energy transactions in the TE market. Therefore, TE market has enough potential to integrate with other advanced technologies such as blockchain based cryptocurrency technology, which their integration possibility along with ongoing activities and opportunities ahead are focused in this paper.

The possibility of using blockchain based cryptocurrency in transactive energy markets: ongoing activities and opportunities ahead Keywords:

Transactive energy , cryptocurrency , blockchain , technology , renewable energy resources , energy market