Open Access

ARTICLE

An Energy Trading Method Based on Alliance Blockchain and Multi-Signature

Hongliang Tian, Jiaming Wang^*

College of Electrical Engineering, Northeast Electric Power University, Jilin, 132012, China

* Corresponding Author: Jiaming Wang. Email:

Computers, Materials & Continua 2024, 78(2), 1611-1629. https://doi.org/10.32604/cmc.2023.046698

Received 11 October 2023; Accepted 03 December 2023; Issue published 27 February 2024

Abstract

Blockchain, known for its secure encrypted ledger, has garnered attention in financial and data transfer realms, including the field of energy trading. However, the decentralized nature and identity anonymity of user nodes raise uncertainties in energy transactions. The broadcast consensus authentication slows transaction speeds, and frequent single-point transactions in multi-node settings pose key exposure risks without protective measures during user signing. To address these, an alliance blockchain scheme is proposed, reducing the resource-intensive identity verification among nodes. It integrates multi-signature functionality to fortify user resources and transaction security. A novel multi-signature process within this framework involves neutral nodes established through central nodes. These neutral nodes participate in multi-signature’s signing and verification, ensuring user identity and transaction content privacy. Reducing interactions among user nodes enhances transaction efficiency by minimizing communication overhead during verification and consensus stages. Rigorous assessments on reliability and operational speed highlight superior security performance, resilient against conventional attack vectors. Simulation shows that compared to traditional solutions, this scheme has advantages in terms of running speed. In conclusion, the alliance blockchain framework introduces a novel approach to tackle blockchain’s limitations in energy transactions. The integrated multi-signature process, involving neutral nodes, significantly enhances security and privacy. The scheme’s efficiency, validated through analytical assessments and simulations, indicates robustness against security threats and improved transactional speeds. This research underscores the potential for improved security and efficiency in blockchain-enabled energy trading systems.

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Keywords

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