Invited Demand Response Mechanism Based on Smart Contract

Abstract

Demand response is an important way to balance the power supply and demand， and to wake up user-side resources. In view of data trust， privacy protection， transaction efficiency and other issues of current demand response business， a solution based on smart contract on blockchain is proposed. First， according to the invited demand response mechanism， the pain points and difficulties of the current business mechanism are analyzed. Then， the smart contract on blockchain is introduced to construct the technical framework of the invited demand response framework based on smart contract， to design the operation mechanism and the related smart contract functions.， and to analyze the technical advantages of the smart contract on blockchain applied in the demand response business. Finally， the deficiencies of this mechanism are discussed， and the future development direction of demand response business based on blockchain technology is discussed concerning demand response service increase， transaction system improvement， user-side interaction enhancement， and timeliness advancement.

Keywords

• blockchain
• smart contract
• invited demand response
• operation mechanism
• technical framework