Abstract

The current research was carried out to investigate blockchain application in power sector. Main objectives were to find the rules, regulations and processes of implementation of blockchain platforms in peer-to-peer transaction and to find a suitable algorithm. Various blockchain platforms have been analyzed and it was found that Ethereum platform is good enough for implementation on peer-to-peer network. Smart Contract, Blockchain Mining, Merkel Tree, Hash Computing Methods, Ring Algorithm, Solidity Language and dApps have been analyzed for implementation. Commercial relations between different traders have been explained. Regulations to control behavior of buyers and sellers have been introduced. Finally, a consensus model has been shown for applying blockchain in peer-to-peer trading market.