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Decentralized Energy Marketplace via NFTs and AI-based Agents

descriptionPublicationkeyboard_double_arrow_right Conference object , Article , Preprint 04 Mar 2024Embargo end date: 01 Jan 2023Publisher:IEEEJournal:2024 IEEE 8th Energy Conference (ENERGYCON)

Authors: Nikbakht R.; Javed F.; Rezazadeh F.; Bartzoudis N.; Mangues-Bafalluy J.;

doi: 10.1109/energycon58629.2024.10488795 , 10.48550/arxiv.2311.10406

arXiv: http://arxiv.org/abs/2311.10406 , 2311.10406

Decentralized Energy Marketplace via NFTs and AI-based Agents

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Abstract

The paper introduces an advanced Decentralized Energy Marketplace (DEM) integrating blockchain technology and artificial intelligence to manage energy exchanges among smart homes with energy storage systems. The proposed framework uses Non-Fungible Tokens (NFTs) to represent unique energy profiles in a transparent and secure trading environment. Leveraging Federated Deep Reinforcement Learning (FDRL), the system promotes collaborative and adaptive energy management strategies, maintaining user privacy. A notable innovation is the use of smart contracts, ensuring high efficiency and integrity in energy transactions. Extensive evaluations demonstrate the system's scalability and the effectiveness of the FDRL method in optimizing energy distribution. This research significantly contributes to developing sophisticated decentralized smart grid infrastructures. Our approach broadens potential blockchain and AI applications in sustainable energy systems and addresses incentive alignment and transparency challenges in traditional energy trading mechanisms. The implementation of this paper is publicly accessible at \url{https://github.com/RasoulNik/DEM}.

6 pages

Keywords

FOS: Computer and information sciences, Computer Science - Machine Learning, Smart contract, Reinforcement learnings, Machine Learning (cs.LG), Computer Science - Networking and Internet Architecture, Automation, Intelligent buildings, Blockchain, Smart power grids, Reinforcement learning, Energy profile, Management strategies, Networking and Internet Architecture (cs.NI), Energy exchanges, Smart homes, Energy management, Deep learning, Block-chain, Energy efficiency, Energy management systems, Power markets, User privacy, Decentralized energy, Trading environments, Storage systems

2 Research products, page 1 of 1

DEM software on GitHub
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DRL_SmartGrid software on GitHub
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