Security Enhancement of Smart Grids using Blockchain Technology

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The smart grid idea is implemented as a modern interpretation of the traditional power grid; it enables a two-way flow of electricity and data, including energy management, using different entities such as smart meters, appliances, and renewable energy resources. The critical nature of smart grids evokes traditional network attacks. Physical attacks, cyber-attacks, and natural disasters are significant threats to smart grid deployment. These threats can lead to infrastructural failures and various problems, including blackouts, energy theft, breaches of customer privacy, and endangering safety of operating personnel.The blockchain has some significant features, making it an applicable technology for smart grid standards to solve security issues and trust challenges. We categorize the blockchain applications in the smart grid into three categories: energy trading, infrastructure management, and smart-grid operations management. We present different methods for security enhancement of Smart Grids (SG) using blockchain technology. A wide range of energy applications have suggested a suitable blockchain architecture in smart grid operations, a sample block structure and the potential blockchain technicalities employed in it. There is a need to critically examine the security issues aimed at preventing possible threats or failures. Various security challenges and threats are discussed with respect to their possible sources of occurrence. The important research problems and possible future research directions are presented for addressing smart grid security concerns using blockchain.