TY - JOUR
T1 - Decentralized On-Demand Energy Supply for Blockchain in Internet of Things
T2 - A Microgrids Approach
AU - Li, Jianan
AU - Zhou, Zhenyu
AU - Wu, Jun
AU - Li, Jianhua
AU - Mumtaz, Shahid
AU - Lin, Xi
AU - Gacanin, Haris
AU - Alotaibi, Sattam
N1 - Funding Information:
Manuscript received January 29, 2019; revised April 11, 2019; accepted May 6, 2019. Date of publication June 24, 2019; date of current version December 9, 2019. This work was supported in part by the National Natural Science Foundation of China under Grant 61431008 and 61571300. (Corresponding author: Jun Wu.) J. Li, J. Wu, J. Li, and X. Lin are with the Shanghai Key Laboratory of Integrated Administration Technologies for Information Security, School of Cyber Security, Shanghai Jiao Tong University, Shanghai 200240, China (e-mail: junwuhn@sjtu.edu.cn).
Publisher Copyright:
© 2014 IEEE.
PY - 2019/12
Y1 - 2019/12
N2 - 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.
AB - 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.
KW - Blockchain
KW - Internet of Things (IoT)
KW - energy supply
KW - microgrids
KW - next generation society
UR - http://www.scopus.com/inward/record.url?scp=85068142731&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85068142731&partnerID=8YFLogxK
U2 - 10.1109/TCSS.2019.2917335
DO - 10.1109/TCSS.2019.2917335
M3 - Article
AN - SCOPUS:85068142731
SN - 2329-924X
VL - 6
SP - 1395
EP - 1406
JO - IEEE Transactions on Computational Social Systems
JF - IEEE Transactions on Computational Social Systems
IS - 6
M1 - 8744269
ER -
