US Patent Issued to Hefei University of Technology on Sept. 1 for "Blockchain-based electricity trading method and system in virtual power plant environment" (Chinese Inventors)

ALEXANDRIA, Va., Sept. 1 -- United States Patent no. 12,726,026, issued on Sept. 1, was assigned to Hefei University of Technology (Hefei, China).

"Blockchain-based electricity trading method and system in virtual power plant environment" was invented by Kaile Zhou (Hefei, China), Hengheng Xing (Hefei, China) and Xinhui Lu (Hefei, China).

According to the abstract* released by the U.S. Patent & Trademark Office: "A blockchain-based electricity trading method and system are disclosed. Based on the initial trading plan of the user in the virtual power plant, a non-cooperative game model among multiple users and the virtual power plant is constructed, a purchase price, a sale price and a demand response compensation price of a trading betwee...