Blockchain Node Data Sharing for Renewable Energy Tracking
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Solution Overview
Problem
The increasing need for accurate tracking and management of transaction prices of electricity produced from renewable energy sources, which fluctuate due to variability in production and demand, poses challenges for electricity retailers in securing non-carbon power generation and maintaining supply-demand balance.
Innovation Solution
A blockchain network system that enables nodes to store and share asset-related data, including owner information and transaction prices, facilitating transparent and secure transactions between producers, consumers, and intermediaries, while ensuring the integrity of renewable energy production methods.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If blockchain technology is used to track renewable energy transactions, then transaction transparency and integrity are improved, but system complexity and implementation costs increase
Solution Approach 1:
The system divides the blockchain network into multiple nodes (producers, consumers, intermediaries) that independently maintain ledgers. Each node segments the overall tracking system into manageable parts, where transaction data is distributed across multiple participants rather than centralized, reducing single-point complexity while maintaining integrity through decentralized verification.
Solution Approach 2:
The patent introduces intermediary nodes that facilitate transactions between producers and consumers. These intermediaries act as mediators that validate and relay transaction data across the network, simplifying direct peer-to-peer interactions while maintaining the integrity chain through structured data transmission and verification protocols.
2Productivity
If real-time data sharing is implemented across all nodes, then supply-demand balance monitoring is improved, but network bandwidth consumption and data transmission costs increase
Solution Approach 1:
The system allows each node to selectively receive and process data relevant to its specific role and local context. Producers receive production-related data, consumers receive consumption-related data, and intermediaries receive transaction-related data. This localized data distribution reduces unnecessary network traffic while maintaining effective supply-demand monitoring through targeted information flow.
Solution Approach 2:
Rather than requiring all nodes to process all transaction data, the system implements partial action where each node processes only the subset of data necessary for its function. This reduces overall network bandwidth consumption while maintaining sufficient monitoring capability through distributed but selective data processing across the node network.
Data Source
AI summary
A node on a blockchain network, includes: a memory that stores asset related data including information on an owner of an asset, and contract related data including a transaction price of the asset or a ratio corresponding to the price of the asset; and circuitry to transmit the asset related data and the contract related data to one or more other nodes on the blockchain network to share the asset related data and the contract related data.