Journal of Engineering Research

With the rapid development of blockchain technology, the transactions and data security in the electricity market are facing new challenges and opportunities. The electricity market transaction system based on blockchain can play an important role in improving transaction transparency, reducing intermediary costs, and enhancing data security. This paper studies the application of blockchain technology in the electricity market, explores its optimization effect in the transaction process and its impact on data security. By comparing the traditional electricity market transaction mode with the mode after the application of blockchain technology, this paper reveals the advantages brought by blockchain in improving efficiency and ensuring security in the electricity market, and proposes the key technologies and challenges for achieving this goal. This paper also discusses the prospects and development directions of the application of blockchain technology in the electricity market.

Blockchain technology; Electricity market; Transaction system; Data security; Smart contract