Efficient Blockchain-Based Energy Auction Platform for Secured Energy Trading on Industrial Applications

초록

Electricity is vital for numerous aspects of human existence, including the operation of electronic devices and the maintenance of vital infrastructure. Even minor electronic devices and essential infrastructures cease functioning without electricity. The industrial and manufacturing sectors depend on a consistent and reliable energy supply because any mismatch between supply and demand can result in significant financial losses. Therefore, a solution is required to address the imbalance between energy supply and demand, particularly in the industrial sector. This study proposes a blockchain-based smart contract for energy auctions that will provide a safe and secure auction system with transparent and low maintenance costs referred to as gas costs, to enable industries to efficiently acquire energy from an energy supplier. The proposed smart contract is secure, effective, and user-friendly.

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