A Scalable Blockchain-based Smart Contract Model for Decentralized Voltage Stability Using Sharding Technique

Abstract: Blockchain technologies are one possible avenue for increasing the resilience of the Smart Grid, by decentralizing the monitoring and control of system-level objectives such as voltage stability protection. They furthermore offer benefits in data immutability and traceability, as blockchains are cryptographically secured. However, the performance of blockchain-based systems in real-time grid monitoring and control has never been empirically tested. This study proposes implementing a decentralized voltage stability algorithm using blockchain-based smart contracts, as a testbed for evaluating the performance of blockchains in real-time control. We furthermore investigate sharding mechanisms as a means of improving the system's scalability with fixed computing resources. We implement our models as a proof-of-concept prototype system using Hyperledger Fabric as our blockchain platform, the Matpower library in MATLAB as our power system simulator, and Hyperledger Caliper as our performance evaluation tool. We found that sharding does indeed lead to a substantial improvement in system scalability for this domain, measured by both transaction success rates and transaction latency.