The University of Wyoming (Laramie) hosted the 2nd Wyoming Blockchain Stampede event during 20-22nd September 2019. The event comprised three tracks: hackathon, blockchain conference and the Sandcastle Startups Challenge. Together, Chainrider and the Blockchain Research Lab @ Arizona State University participated in these events and accomplished remarkable results. We have won two hackathon prizes (a 1st and 2nd place) for [email protected] team for designing a roaming framework on private and public blockchains inside the electric vehicles charging ecosystem. Chainrider has won the 3rd place in the Sandcastle startups challenge.
The Energy Landscape
Blockchain technology enables peer-to-peer (P2P) transactions through the elimination of a centralized entity governing consensus. Rather than having a centralized database, the data is distributed across multiple nodes – this both enables crash fault tolerance and makes the system tamper-proof, due to a distributed consensus algorithm.
Blockchain technology has been listed as one of the key innovations in the report, Innovation for a Renewable-Powered Future. Within the energy sector there is an opportunity to handle user accounts and payments using blockchains. Currently, utility companies follow a centralized approach to handle accounts and payments. Thus, the system’s availability and reliability are jeopardized due to a single point of failure. Blockchains, due to their inherent nature, have the potential to provide a promising solution to control and manage trading energy surplus or flexible demand on a P2P basis.
Recent solutions that have used blockchain technology have focused on achieving a shift from a highly centralised power system to smaller scale, localised systems that optimise power demand, consumption, and management. These microgrids are emerging as notions towards decentralization inside the energy ecosystem. They bring together a combination of clean technologies suc...