Application and Development of Blockchain-Based Distributed Energy Trading Systems in the Power Market

Abstract

The global energy transition has accelerated the large-scale adoption of distributed renewable energy sources such as photovoltaics and wind power. However, their “decentralized and volatile” characteristics make traditional centralized power trading models difficult to adapt. The inherent features of blockchain technology—decentralization, immutability, transparency, traceability, and smart contracts—offer a technological foundation to resolve these issues. Although several pilot projects have been implemented globally, a mature system solution and large-scale promotion model have yet to be established. Current trading systems rely heavily on intermediaries, leading to inefficiency, trust deficits, and high intermediary and labor costs. Moreover, challenges such as data silos and dispatch difficulties persist. Domestically, shortcomings remain in cross-regional interconnection, regulatory integration, and cost control, while a compliant yet decentralized system model and multidimensional evaluation framework are still lacking. This study constructs a “regulatory-node-embedded” consortium blockchain five-layer architecture (application, contract, consensus, network, and data layers) with four core functional modules, employing the PBFT algorithm (TPS ≥ 150) and achieving transaction latency ≤ 5 seconds. Empirical results show a cost reduction of 20–30%, photovoltaic absorption rate improvement from 75% to 92%, and peak-valley gap narrowing by 18%. Blockchain technology can effectively address core pain points, and the consortium blockchain is identified as the optimal configuration. System promotion requires coordination among policy, technology, and market sectors, while existing issues—throughput, interface, and audit cost—can be optimized through sharding technology. This study fills the research gap in systematic “Blockchain + Energy Trading,” proposing a compliant model and three-dimensional evaluation framework that provides a practical solution for power market reform, enhances the participation of small and medium entities, improves energy consumption rates, and contributes to carbon neutrality goals.