Blockchain Based Renewable Energy Trading

This research explores the integration of blockchain technology with renewable energy trading, leveraging the R3 Corda platform to create a transformative, secure, and decentralized energy trading ecosystem. Our study addresses the inefficiencies and trust issues of traditional markets by enhancing transparency, security, and operational efficiency in energy transactions. Key innovations include the integration of SHA-256 hashing and a Competitive Pricing Adjustment (CPA) mechanism within smart contracts, ensuring secure and cost-effective trading. Unlike previous models like IOTA’s Tangle, which is vulnerable to Sybil attacks and centralized control, our model eliminates single points of failure through robust identity verification and full decentralization. Comparative analysis highlights our system’s superiority in security, cost efficiency, and resilience. Additionally, our user-friendly web application and REST API facilitate seamless client interaction, further distinguishing our approach. This research sets a new benchmark for blockchain-based renewable energy trading, paving the way for a more sustainable and efficient energy market.