Abstract
Abstract
The use of Internet of Things (IoT) devices in the smart grid enables two-way communication between utility and Smart Meters (SMs) to improve operational efficiency. However, this exchange of crucial information on public communication channel lead to cyberattack vulnerabilities that could compromise the security standards of the communication channels. Therefore, it is needed to design a cybersecurity protocol to control cyberattacks and their impacts on specific application. This article designed a novel privacy-preserving protocol to enhance cybersecurity against communication attacks in electricity trading platforms, such as the Transactive Energy Management System (TEMS). The proposed protocol provides centralized security for decentralized systems by integrating multi-party computation with Hierarchical Identity-Based Encryption (HIBE) to achieve perfect forward secrecy and mutual authentication. The proposed multi-party computation protocol combines HIBE with an Elliptic Curve Cryptography (ECC) for the keys used by participants in peer-to-peer energy trading within the TEMS framework under the smart grid paradigm. Secret session keys are established through mutual authentication without the need for third-party mediation, facilitating the secure information exchange. Additionally, this study focuses on designing an IoT-based smart grid using NS3 to evaluate a lightweight identity-based multi-party computation approach. The results confirm that the proposed protocol maintains a high Packet Delivery Ratio (PDR) above 98% with a transmission delay of less than 0.0175841 (sec) across different scenarios.