Blockchain-Based EV Constant Function Pricer and Oraclized State of Charge Estimator

Abstract

The increasing adoption of Electric Vehicle (EV) systems necessitates the development of an Energy Market structure that facilitates peer-to-peer energy sharing among multiple EVs and entities while ensuring a self-regulating pricing mechanism. Real-time State of Charge (SoC) estimation is critical to meeting the dynamic energy demands of EV systems. In this study, we propose a blockchain-based automated market maker (AMM) that utilizes constant function products to establish an effective self-regulating pricing system for EV energy market prices. Our unique State of Charge estimation system leverages blockchain-based oracles to efficiently handle requests and monitor EV-oriented energy markets. This enables precise monitoring of battery states and achieves improved SoC values through the interior point method. Experimentation on a blockchain network reveals cost-effective energy regulation within EV systems and enhanced SoC estimation predictability within Energy Markets. All contracts undergo rigorous testing and are deployed at a gas cost of $2.1913742~x 10^{7}$ Wei. Our approach demonstrates high efficiency, for all designed protocols, affirming the efficacy of our proposal. By implementing our blockchain-based AMM and State of Charge estimation system, we ensure transparent and self-regulated energy distribution and pricing within EV Markets, fostering the advancement of autonomous EV systems.