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About this paper
Guilherme Vieira, Jie Zhang
An Ethereum-based microgrid platform is implemented and evaluated through two agent-driven electricity markets: a fully decentralized continuous double auction and a semi-decentralized uniform-price auction. Under the study’s simulation assumptions, the uniform-price design delivered cheaper electricity and higher trading volume, while the continuous auction better protected producers from selling below cost; local trading costs were about $0.74 per household per day versus $2.18 for grid purchases.
Key insights
- Market architecture creates a clear decentralization–efficiency trade-off: the continuous auction uses more on-chain processing and transactions, whereas the uniform-price design reduces blockchain costs by moving offer matching off-chain.
- The continuous auction generally preserves individual rationality, keeping buyer prices below the grid price and seller revenues above estimated production cost; the uniform-price auction can produce cheaper energy but may clear below some producers’ LCOE.
- Simple agent rules can coordinate battery charging with solar availability and forecast demand, but they do not demonstrate optimal bidding or robust behavior under strategic participants and changing market conditions.
Summary by alphaXiv.
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