In the existing smart protection schemes, due to the simplification of protective equipment configuration and data acquisition, when the device fails, the entire protection program will be in lower reliability. In order to improve the reliability of protection schemes, this paper proposes an optimization program with protection decentralization, diversified information acquisition and parallel data processing. When the equipment failure or data loss situation occurs, the protection scheme is still able to operate reliably. This program constructs the RIED based on the secondary protection information; transfers the source data to multiple IED/RIED to build data redundancy; uses various algorithms to achieve the same functions, spreads the algorithm to different IEDs to improve the algorithm redundancy; and uses an intermediate amount of information of protection algorithms to achieve equipment reliability monitoring. Analysis shows that the optimization scheme can effectively improve the protection performance in the conditions of equipment failure and data loss, increasing the reliability of the protection scheme.