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The application of blockchain, an emerging technology in the power transaction is drawing much attention over last few years. This work proposes a blockchain based simple yet efficient scheme to control over a small-scale power transaction. Here a new technique is introduced to keep track of the succeeding blocks containing the information regarding each power transaction. The proposed scheme also assures the distribution of energy at lowest possible rate to the consumers depending on their requirements.
Inspec keywords: blockchains; power markets; transaction processing; power engineering computing
Subjects: Cryptography; Power engineering computing; Data security; Power system management, operation and economics