Blockchain-Based Smart Grids presents emerging applications of blockchain in electrical system and looks to future developments in the use of blockchain technology in the energy market. Rapid growth of renewable energy resources in power systems and significant developments in the telecommunication systems has resulted in new market designs being employed to cover unpredictable and distributed generation of electricity. This book considers the marriage of blockchain and grid modernization, and discusses the transaction shifts in smart grids, from centralized to peer-to-peer structures. In addition, it addresses the effective application of these structures to speed up processes, resulting in more flexible electricity systems. Aimed at moving towards blockchain-based smart grids with renewable applications, this book is useful to researchers and practitioners in all sectors of smart grids, including renewable energy providers, manufacturers and professionals involved in electricity generation from renewable sources, grid modernization and smart grid applications. Considers the current challenges facing smart grids and presents solutions on how blockchain technology could counter these issues Incorporates detailed applications of blockchain in smart grids based on dynamic research and developments Includes models, algorithms, and frameworks to practically demonstrate the uses of blockchain technology Written by a global group of authors for worldwide coverage Cover 1 Blockchain-based Smart Grids 3 Copyright 4 Contributors 5 1 Introductory chapter: An overview of the book 7 2 A panorama of applications of blockchain technology to energy 11 Introduction 11 Context 12 Definitions 15 Blockchain 15 Bitcoin 17 Ethereum 18 Smart contracts 18 ICO and token sales 19 Characteristics 20 Current and past projects 23 Limitations 24 Rules and regulations 27 Applications of BC to energy 29 Energy trading 30 Environmental attribute management 33 Demand response 34 Electric mobility 35 Financing 35 General considerations 36 Conclusion 37 Conclusion 37 Appendix 1: Examples of companies using the blockchain technology in the energy sector 38 References 44 3 Transition toward blockchain-based electricity trading markets 48 The rise of blockchain 48 The fourth industrial revolution 48 An interconnected world: The rise of the Internet-of-things 50 Decentralized economies: The success of blockchain 53 Adoption of blockchain by the energy sector 54 P2P energy markets: The emerging paradigm shift 55 Expansion of blockchain applications 56 Blockchain 3.0: Next-generation energy systems 60 Acknowledgments 61 References 62 4 Decentralized operation of interdependent power and energy networks: Blockchain and security 65 Introduction 65 Grid modernization toward smarter power systems 66 Large-scale problems: From centralized to decentralized optimization 68 Blockchain-based interdependent power and energy network: A transition toward decentralized, smart, and secure energy ... 70 Conclusion 73 References 73 Further reading 77 5 The role of various market participants in blockchain business model 78 Introduction 78 Market participants 80 Prosumers 80 Aggregators 82 Virtual power plants 83 Energy community manager 87 System operators 87 Blockchain business model 89 Peer-to-peer energy-trading platform 91 Target participants 92 Roles of market participants 95 Flexibility trading platform 97 Target participants 98 Roles of market participants 99 OTC trading platform 100 Target participants 100 Roles of market participants 100 Crowdsale trading platform 100 Target participants 101 Roles of market participants 101 Discussion 102 Acknowledgments 103 References 103 6 Blockchain and its application fields in both power economy and demand side management 106 Introduction 106 Blockchain technology in different areas including power economy 110 Blockchain with DR applications 122 Concluding remarks 128 Acknowledgments 129 References 129 7 Blockchain-based demand response using prosumer scheduling 134 Introduction 134 The decentralized demand response model 137 Stage 1: The prosumers scheduling and the first settlement 138 Stage 2: The prosumers rescheduling and the final settlement 140 The blockchain-based platform 141 Simulation: Numerical results 142 Decentralized versus centralized aggregator-based scheme 142 The effects of the contribution of the prosumers on the market load profile 144 Conclusion 145 References 146 8 Blockchain in decentralized demand-side control of microgrids 148 Introduction 148 Related work 151 Blockchains and renewable energies 153 Blockchain basics 153 Blockchain applications in microgrids 156 Blockchain-based management of smart energy grids 159 Smart contracts for demand response programs 164 Validation and results 166 Conclusions 168 References 168 Further reading 170 9 Blockchain for decentralized optimization of energy sources: EV charging coordination via blockchain-based cha ... 171 Introduction 171 Motivation 171 First contribution 171 Second contribution 172 EV charging power quota transaction mechanism 172 Implementation via Ethereum 174 Charging demand submission 175 Charging power quota double auction 176 Settlement 177 Case studies 177 Data 177 Simulation results 177 Conclusion 180 References 180 10 Islanded microgrid management based on blockchain communication 182 Introduction 182 Literature review 182 Blockchain 184 Consensus mechanisms 185 Smart contracts 185 Platform architecture 186 Proposed MAS 186 Algorithm for the auction process 190 Acknowledgments 192 References 193 11 Blockchain-based protection schemes of DC microgrids 195 Introduction 195 DC microgrids 198 Power resources 199 Energy storage system 199 Converters 201 Challenges in protection of DC microgrids 202 Immunity against cyber attack 202 Low tolerant of converters 202 Unsuitability of the AC C.Bs 202 Bidirectional fault current 203 Unsuitability of the AC protection methods 203 Cyber attacks 203 SV and GOOSE message cyber-attacks 203 Network security cyber-attacks 204 Blockchain structure 205 Proposed blockchain-based DC microgrid protection technique 206 Differential fault detection 207 Blockchain backup protection system 209 Simulation results 209 Fault detection and isolation without cyber-attack 209 Fault detection and isolation by considering a cyberattack 210 Conclusion 211 References 212 Index 215 A 215 B 215 C 216 D 216 E 217 F 218 G 218 H 218 I 218 K 219 L 219 M 219 N 219 O 219 P 219 Q 220 R 220 S 220 T 220 V 220 W 220 Back Cover 221 __Blockchain-Based Smart Grids__ presents emerging applications of blockchain in electrical system and looks to future developments in the use of blockchain technology in the energy market. Rapid growth of renewable energy resources in power systems and significant developments in the telecommunication systems has resulted in new market designs being employed to cover unpredictable and distributed generation of electricity. This book considers the marriage of blockchain and grid modernization, and discusses the transaction shifts in smart grids, from centralized to peer-to-peer structures. In addition, it addresses the effective application of these structures to speed up processes, resulting in more flexible electricity systems. Aimed at moving towards blockchain-based smart grids with renewable applications, this book is useful to researchers and practitioners in all sectors of smart grids, including renewable energy providers, manufacturers and professionals involved in electricity generation from renewable sources, grid modernization and smart grid applications. Blockchain-based Smart Grids Is A Pioneering Book Presenting The Applications Of Blockchain In Electrical Systems. It Includes Relevant And Timely Diverse Applications And Lays Out Models, Algorithms And Frameworks To Smartness In Future Cities. Rapid Growth Of Renewable Energy Resources In Power Systems And Significant Developments In The Telecommunication Systems Has Resulted In New Market Designs Being Employed To Cover Unpredictable And Distributed Generation Of Electricity. Considering The Marriage Of Blockchain And Grid Modernization This Book Discusses The Transaction Shifts In Smart Grids From Centralized To Peer-to-peer Structures. It Addresses Effective Application Of These Structures To Speed Up Processes Resulting In More Flexible Electricity Systems. Aimed At Moving Towards Blockchain-based Smart Grids With Renewable Applications, This Book Benefits All Sectors Of Smart Grid Including Renewable Energy Providers, Manufacturers And Professionals Involved In Electricity Generation From Renewable Sources.