A Fast, Secure and Distributed Consensus Mechanism for Energy Trading Among Vehicles using Hashgraph

Abstract

Energy trading among inter vehicles (V2V) offers an efficient response to most of the problems presented by future electricity supply. V2V is often envisioned as a peer-to-peer (P2P) model of electric mercantilism for electric vehicle (EV) merchandising. With security vulnerability increasing, confidence in secured third parties is declining. Blockchain is becoming increasingly common as it provides a system for privacy conservation and efficient agreement without the need for trusted third parties. However, all operations in such a scheme are restricted by memory, time, computing capital, energy etc. and it is quite obvious that the mechanism for blockchain agreement is not sufficient to address all of them. In this paper, we present an alternative to the blockchain using Hashgraph which is scalable, fast, fault-tolerant and fair. It is efficient, inexpensive, and DoS resistant fulfilling the requirement of V2V energy trading