Blockchain outlook for deployment of IoT in distribution networks and smart homes

Nowadays, the integration of renewable energy sources, as distributed generation, into power systems is accelerated, and the corresponding technological development is evolving at a frantic pace. The power industry is going to reach a turning point for increasing the penetration of these sources due to concerns pertaining to climate changes and world-wide evergrowing demand for energy. The pervasive renewable energy in small-scale poses new challenges for operators to manage an abundant number of smallscale generation sources, called microsources. The current banking structures are unable to handle such massive high-frequency transactions. Thus, the incorporation of cryptocurrencies is inevitable. Besides, the utilization of IoT-enabled devices produces a large body of data that must be securely transferred, stored, processed, and managed to boost the grid’s observability, controllability, and autonomy. Artificial intelligence and big data techniques should be used to analyze the data for quasi-real-time decision making. This study delves into the aforementioned controversial challenges and opportunities, and the corresponding solutions for the incorporation of IoT and blockchain in power systems, particularly in the distribution level, residential section, smart buildings, smart homes, energy hubs schemes, and the management of residential electric vehicle supply equipment are addressed