Performance Optimization of a Blockchain-Enabled Information and Data Exchange Platform for Smart Grids

Abstract

Copyright © 2023 by the authors. Exchanging information and data within smart grids is crucial to improve interoperability among system users. Traditional cloud-based data exchange schemes are centralized on a single trusted third-party platform. The schemes consequently suffer from single-point failure, a lack of data protection, and uncontrolled access. Blockchain enables data exchange in a decentralised and secure manner. A new platform is proposed in this work for exchanging data within smart grids using blockchain. It allows users to securely exchange data without losing ownership. This platform provides solutions to three critical problems: privacy, scalability, and user ownership. Particularly, the blockchain-based smart contract technology gives participants the programmability to access data. All interactions are authenticated and recorded by the other participants in the tamper-resistant blockchain network. Furthermore, the performance of the proposed blockchain platform is enhanced by integrating it with an artificial neural network (ANN). The proposed method is used to predict the network’s throughput and latency, and the network administrator uses these predicted values to change the network’s settings for a high throughput and low latency. Throughout the results, the proposed model achieves performance improvements in blockchain-enabled information and data exchange and adapts well to the dynamics of smart grids.