Optimized User-Friendly Transaction Time Management in the Blockchain Distributed Energy Market
Martin Onyeka Okoye, Hak‐Man Kim
Abstract
The blockchain nexus with energy transactions in the distributed energy-trading arena successfully achieved a decentralized transaction and increased security. With the elimination of a third-party middle man, an electronic app is introduced to achieve decentralization and aid transactive communications. Observing the internet-of-things (IoT) intense protocols in the transactive communications amongst blockchain participants, however, leads to transaction time delay with associated uncertainty. This paper integrates the practical byzantine fault tolerance (pBFT) algorithm with the private Hyperledger Sawtooth blockchain network (P) to achieve a P-pBFT algorithm. The P-pBFT achieved a combined two-step transaction latency optimization (minimization) amongst the blockchain participants in the distributed energy generation (DEG) ecosystem. Through their combined feature extraction, further minimization is achieved by simulating the resulting transaction model derived from the integration. Subsequently, an optimization method is proposed to achieve the shortest transaction time given transaction constraints based on participants’ comfort. Thus, the ratio of node population to the transaction size and the choice of constraints can be regulated at the participants’ convenience to achieve minimum transaction time. Hence, the benefit of deciding the transaction time is achieved thereby eliminating the undesired characteristic uncertainty.