Distributed Ledger Energy Trading for Decentralized Power Networks
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Solution Overview
Problem
Existing energy distribution networks are centralized, making it difficult to implement decentralized power generation and distribution, which requires alternative strategies for localized control, monitoring, and energy exchange between energy generators and consumers.
Innovation Solution
An energy resource network utilizing a publicly-available distributed ledger for cryptographically-secured energy transactions between energy resources and consuming devices, with third-party nodes verifying transactions and maintaining the ledger to ensure energy availability and integrity.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If a centralized energy distribution system is used, then control and monitoring are simplified, but decentralised power generation and localised energy exchange cannot be effectively implemented
Solution Approach 1:
The patent segments the centralized energy distribution system into multiple autonomous energy resources and energy-consuming devices that can independently generate, consume, and exchange energy. Each device is equipped with its own processor that can autonomously issue offer-messages and receive accept-messages, enabling decentralised control while maintaining system coordination through peer-to-peer transactions recorded on a distributed ledger.
Solution Approach 2:
The patent introduces a distributed ledger as an intermediary mechanism that enables trustless peer-to-peer energy transactions between autonomous devices. The ledger cryptographically records all energy exchanges, offer-messages, and accept-messages, providing a decentralized verification system that eliminates the need for centralized control while ensuring transaction integrity and preventing fraud.
2Reliability
If localised energy exchange between energy resources and consuming devices is enabled, then energy autonomy is improved, but transaction verification and ledger maintenance become more complex
Solution Approach 1:
The patent implements a distributed ledger where multiple third-party nodes each maintain a complete copy of the ledger. This copying mechanism ensures that no single node is a single point of failure, and the system can tolerate node failures or malicious behavior. Each node independently verifies transactions against its copy of the ledger, providing redundant verification and enhanced security.
Solution Approach 2:
The patent incorporates verification routines that process the distributed ledger to provide feedback on transaction validity. Third-party nodes continuously monitor energy resource balances and verify that offer-messages and accept-messages represent valid energy exchanges. The ledger itself provides feedback by recording transaction histories that can be audited to ensure system integrity.
3Loss of information
If a publicly-available distributed ledger is used for energy transactions, then transparency and data integrity are improved, but system complexity and computational requirements increase
Solution Approach 1:
The patent performs preliminary actions by having energy resources issue offer-messages that specify the quantum of energy available for supply before actual energy transactions occur. These offer-messages are recorded on the distributed ledger in advance, allowing energy-consuming devices to plan their energy consumption and enabling the system to pre-validate transaction possibilities against recorded energy availability.
Solution Approach 2:
The patent enables energy resources and energy-consuming devices to autonomously negotiate and execute energy transactions without centralized intermediation. Each device's processor independently generates offer-messages, receives accept-messages, and creates transaction records that are self-verified by the distributed ledger system. The ledger itself is maintained by third-party nodes that operate autonomously according to consensus protocols.
Data Source
AI summary
An energy resource network with plurality of energy resources each capable of delivering a quantum of energy; and a plurality of energy-consuming-devices each capable of accepting a quantum of energy. Each energy resource is associated with an energy-resource-processor which is configured to issue one or more offer-messages in respect of a quantum of energy available for supply from the energy resource Each energy-consuming-device is associated with at least one energy-consuming-processor) that is configured to receive one or more offer-messages in respect of a transaction for receiving a quantum of energy from one of the energy resources The energy-resource-processor and/or the energy-consuming-processor being configured to issue a cryptographically-secured transaction record of the transaction for inclusion within a publicly-available distributed ledger.