Blockchain-based Guarantees of Origin issuing platform
Alvaro Nofuentes, Juan Jose Hernandez, Lucas Pons · 2022 18th International Conference on the European Energy Market (EEM) · 2022
Guarantees of Origin (GoO) issued have the sole function of proving to a final customer that a given share or quantity of energy was produced from renewable sources. A GoO can be transferred, independently of the energy to which it relates, from one holder to another. However, with a view to ensuring that a unit of electricity from renewable energy sources is disclosed to a customer only once, double counting and double disclosure of Guarantees of Origin should be avoided [1].For this reason, TRINITY project [2] will ensure the traceability of GoOs using a blockchain-based issuing platform (compatible with the EECS model [3]). The blockchain-based platform proposed in TRINITY, and presented in this paper, does not rely on the entire miner network to approve transactions. Instead, it uses the Federated Byzantine Agreement (FBA) algorithm, which allows a fast processing of transactions and negligible use of energy.