A Privacy Preserving Energy Trading Platform Based on Smart Contract

Abstract

The smart grid has provided a fascinating opportunity to move the energy industry into a new era of reliability, availability and efficiency that contributes to both energy saving and environment protection. Besides, the smart grid has abandoned the single power supply paradigm in traditional power grid, and it can promote information and resource exchange through peer-to-peer transactions. For example, electricity can be traded effectively in real-time, so that all users can be benefited from cost saving. However, the energy trading data may contain sensitive information of the participating parties. If this information is leaked, user privacy might be violated. Moreover, the trading information should be enforced with fine-grained access control. To fulfil these security requirements, we propose a privacy preserving energy trading platform based on smart contract. First, ElGamal encryption is used to protect the privacy of exchanged messages. Second, proxy re-encryption is employed to achieve fine-grained access control, and it is more efficient than attribute based encryption that is widely used in existing solutions. Third, smart contract is used as the arbitrator, and thanks to its attractive characteristics, such as transparency and trustworthy execution, it can replace the trusted third parties in many existing schemes. Security analyses prove that our scheme satisfies all the desirable security requirements, such as correctness, privacy, fine-grained access control, robustness. And performance analyses demonstrate that it is practical for large-scale applications.