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Decentralized Energy with Hyperledger Composer
Create Blockchain applications easily using Hyperledger Composer! This application will create a decentralized energy network of Residents, Banks and Utility Companies. The Residents can exchange energy for coins with other Residents and Utility Companies, and exchange coins for fiat currency with Banks. All transactions will be added to a Blockchain ledger.
Emerging Technologies
A key application of Blockchain being currently explored is a Decentralized Energy network. The idea stems from a neighborhood where certain Residents are producing energy through Solar panels or other means, and can sell excess energy to Residents needing energy. The transactions would be based on coins in each Resident's account. As per a pre-determined contract and rate, the coins would be debited from the consumer and credited to the producer, for a certain billing period. Each transaction would need to be atomic and added to a Blockchain ledger for trust and verification. The network can include Banks to transact coins for Fiat currency (USD). The network can have Utility Company who can buy or provide energy through the network.
This journey will demonstrate how such a Blockchain application can be created using Hyperledger Composer, and show how the network can be displayed and interacted with through a web interface.
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This Blockchain journey will show how to build a Blockchain application using Hyperledger Composer. The application presents a Decentralized Energy network where Residents who are producing energy through Solar panels or other means, can sell excess energy to fellow Residents. The transactions would be based on coins in each Resident's account, with a pre-determined rate of exchanging coins for energy. The network includes Banks to exchange coins for a fiat currency (USD), and Utility Companies who can buy or provide energy through the network. The journey uses Angular framework for the interface to create and shows how to interact with the network using REST API. The application allows user to create Participants (Residents, Banks, Utility Companies) on the network with their account balances. And to execute transactions between Residents, Resident and Bank, and Resident and Utility Company. The application performs atomic transaction between the participants and updates their balances per the transaction.
Currently this application demonstrates the basic idea of a decentralized energy network and can be expanded in numerous ways: adding specific permissions and channel, setting up real time transactions among participants, and even integrating with IoT to read from power meter and distributing energy.
- The administrator interacts with Decentralized Energy UI comprising of Angular framework
- The application processes user requests to the network through a REST API.
- Implements requests to the Blockchain state database on Hyperledger Fabric v1
- The REST API is used to retrieve the state of the database
- The Angular framework gets the data through GET calls to the REST API
- Hyperledger Composer
- Angular Framework
- Loopback
- Blockchain
Make Blockchain Applications with Hyperledger Composer
As Blockchain becomes bigger than cryptocurrency, many experts are predicting Blockchain to cause a disruption as big as the internet. Blockchain technology can significantly impact the way businesses, governments and organizations operate. Blockchain introduces a new way for records to be updated, transacted and monitored. It provides the trust, distributed sharing and immutable ledger, which our data needs as it becomes more valuable.
Through Hyperledger Composer, developers can create Blockchain applications easily for multiple use cases. Composer provides a framework and open development toolset making it much simpler to create a network and define transactions. All transactions are stored on a Blockchain ledger. The Hyperledger Composer Playground, a web user interface, is a great place to define and test the model. Hyperledger Composer supports the Hyperledger Fabric blockchain infrastructure and runtime. In addition, Composer can generate a REST API, which makes it very useful for creating web applications.
The "Decentralized Energy using Hyperledger Composer" journey demonstrates creating a Blockchain application for a decentralized energy network. This application of Blockchain is picking up steam as energy can now be produced by residents through Solar panels or other means of energy. Blockchain can provide a trusted exchange of energy for monetary value. In our application, the network includes Residents, Banks and Utility Companies. Residents can exchange energy for coins with other Residents and Utility Companies on the network, for a pre-determined rate. Residents can exchange coins for fiat currency with Banks on the network. The application uses Angular framework for web user interface and demonstrates on how to make REST API calls to the deployed network.
If you are familiar with Blockchain technology or looking to get familiar with Blockchain applications, then this journey should excite you. With Hyperledger Composer, Blockchain applications can come to life with considerable ease than before.