Blockchain in Smart Grid for Sustainable Management of Environmental Resources Usage

Blockchain is a distributed database that is shared among the nodes of a computer network. Blocks have        certain storage capacity and, when filled, they are closed, and linked to the previously filled block, forming a     chain. Blockchains are typically managed by a peer-to-peer method where nodes collectively adhere to a   consensus algorithm protocol to add and validate new transaction blocks. The author makes a review of   Blockchain applications in different areas, considerable challenges, her own experience with Blockchain in Smart Grid and other researchers` contributions. The paper presents the first stage of project “Smart Grid for Sustainable Management of Environmental Resources Usage”—describing Managed Objects classes for selected functional areas of Blockchain life cycle: Configuration, Security, and Performance. The author uses the life cycle of telecommunication networks as a reference. The models are designed for user interface developers, university professors, and students.