Research on Electricity Retail Transaction Process Based on Block Chain Technology

As a distributed accounting technology, block chain technology has the characteristics of distributed storage and cannot be tampered with. Through the research on the electricity retail transaction process of block chain technology, it can effectively solve the problem of trust between transaction parties, optimize and reconstruct retail market transactions. Models and processes to achieve traceability of all links in the retail trading market, greatly improving transaction compliance. Firstly, this paper introduces the composition and technical characteristics of block chain, and proposes the electricity retail transaction process under the user-side open electricity market environment based on block chain technology. The entire transaction process is divided into 4 steps, namely the initiation stage, the transaction stage, the result authentication and calculation, and the data storage. Then, a detailed analysis of the electricity retail transaction process based on block chain technology is carried out.