Decentralized On-Demand Energy Supply for Blockchain in Internet of Things: A Microgrids Approach

Jianan Li, Zhenyu Zhou, Jun Wu*, Jianhua Li, Shahid Mumtaz, Xi Lin, Haris Gacanin, Sattam Alotaibi

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

26 Citations (Scopus)

Abstract

Currently, blockchain technology has been widely used due to its support of transaction trust and security in next generation society. Using Internet of Things (IoT) to mine makes blockchain more ubiquitous and decentralized, which has become a main development trend of blockchain. However, the limited resources of existing IoT cannot satisfy the high requirements of on-demand energy consumption in the mining process through a decentralized way. To address this, we propose a decentralized on-demand energy supply approach based on microgrids to provide decentralized on-demand energy for mining in IoT devices. First, energy supply architecture is proposed to satisfy different energy demands of miners in response to different consensus protocols. Then, we formulate the energy allocation as a Stackelberg game and adapt backward induction to achieve an optimal profit strategy for both microgrids and miners in IoT. The simulation results show the fairness and incentive of the proposed approach.

Original languageEnglish
Article number8744269
Pages (from-to)1395-1406
Number of pages12
JournalIEEE Transactions on Computational Social Systems
Volume6
Issue number6
DOIs
Publication statusPublished - 2019 Dec
Externally publishedYes

Keywords

  • Blockchain
  • energy supply
  • Internet of Things (IoT)
  • microgrids
  • next generation society

ASJC Scopus subject areas

  • Modelling and Simulation
  • Social Sciences (miscellaneous)
  • Human-Computer Interaction

Fingerprint

Dive into the research topics of 'Decentralized On-Demand Energy Supply for Blockchain in Internet of Things: A Microgrids Approach'. Together they form a unique fingerprint.

Cite this