Dinesha, DL and Patil, B (2023) A Conceptual Insight Into Achieving Interoperability Between Heterogeneous Blockchain Enabled Interconnected Smart Microgrids. In: 2023 IEEE PES Innovative Smart Grid Technologies - Asia, ISGT Asia 2023, 21-24 November 2023, Auckland.
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Abstract
Blockchain technology (BCT) has emerged as a game-changer for many industries since its inception in 2008. Its application in the energy industry as blockchain enabled interconnected smart microgrids (BSMG) is on the rise as it can execute energy trading, automate the market operations, manage the grid, and facilitate real-time payments. With the increase in usage of BSMGs, different types of BCT will emerge, making the system heterogeneous in nature. BCT is also limited currently due to its scalability and low transaction rate. Interoperability between heterogeneous BSMGs can counteract the drawbacks and improve the functionality and, thereby, adoption of BCT in energy. This paper recognises the need for interoperability and thoroughly reviews the different methods of interoperability that currently exist (i.e., notary mechanism, relay or side chains, hashed time-locked contracts, and blockchain routers). Two relay mechanisms - Polkadot and Cosmos with Inter Blockchain Communication Protocol (IBC) are reviewed further to determine the usability of the protocols. Finally, a conceptual architecture of interconnection of heterogeneous BSMGs is proposed. Conceptual solution to connecting Ethereum and Hyperledger Fabric to the Cosmos Hub through IBC is explored. While interoperability between heterogeneous users is addressed in Decentralized Finance (DeFi), it has not yet been addressed in energy. A conceptual solution is provided for this research gap for the first time in energy domain. © 2023 IEEE.
| Item Type: | Conference Paper |
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| Publication: | 2023 IEEE PES Innovative Smart Grid Technologies - Asia, ISGT Asia 2023 |
| Publisher: | Institute of Electrical and Electronics Engineers Inc. |
| Additional Information: | The copyright for this article belongs to Author. |
| Keywords: | Commerce; Distributed ledger; Interoperability; Smart power grids, Block-chain; Blockchain enabled smart microgrid; Communications protocols; Energy; Energy internet; Heterogeneous blockchain; Inter blockchain communication protocol; Smart Micro Grids, Blockchain |
| Department/Centre: | Division of Interdisciplinary Sciences > Management Studies |
| Date Deposited: | 01 Mar 2024 10:26 |
| Last Modified: | 01 Mar 2024 10:26 |
| URI: | https://eprints.iisc.ac.in/id/eprint/84042 |
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