Smart Grid Local Energy Trading Based Crypto Token Using Blockchain

Smart grid is envisioned to be the technology capable of scheduling user's energy requirement based on demand and decentralized nature. These challenges pose extreme pressure on finding advanced technologies and sustainable solutions for secure and reliable operations of the power system working inside the blockchain technology for managing exchange and trading of energy by means of specific tokens. For efficient utilization and functioning of the power grid we need a decentralised system which is transparent, trustless and makes transactions faster, there are a number of solutions proposed but none of them address the issue of transaction time in trade and penalty for defaulters. In this work we propose here an energy transaction network which implements blockchain technology for validating transaction of energy between producer/consumer or prosumer and saves energy and time using smart grids