A FORMULATION OF CONSENSUS ALGORITHM EVALUATION MATRIX FOR BLOCKCHAIN BASED SOLAR ENERGY TRADING

• Main Author: MUHAMMAD SHAMSUDDEEN MUHAMMAD
• Format: text::Thesis
• Language: English
• Published: 2023

In the traditional architecture of an electric power grid, the configurations are typically in a uni-directional format whereby the electricity is transferred from the source which is typically the power plant to the destination which is typically the consumer. But with the current advancement of the entire ecosystem and the emergence of prosumers, the conventional system is no more practical. This need has led to the creation of micro-grid technology that has support for bi-directional transfer of power. Although this has greatly improved efficiency and effectiveness as a whole, there is still need for manual oversight and invigilation. This is where the utilization of blockchain technology and consensus algorithms in conjunction with the micro grid could serve as the autonomous component required to manage the entire network regarding energy transfer amongst members of the ecosystem. In this project we have been able to study relevant literature as well as current state of the industry applications and have been able to identify attributes for solar energy trading.We then proceeded to formulate an Evaluation Matrix which was the basis for our study and enabled us to build a framework from which we could objectively decide which consensus algorithm would be the best amongst a predetermined set of options. This then led to the final objective which was to recommend the ideal consensus algorithm for solar energy trading.