Carbon Trading Based on Consortium Chain: Building, Modeling, and Analysis

Traditional carbon trading suffers from poor interoperability, low transparency and reliance on manual drawbacks. In this paper, we analyze the combination of carbon trading and blockchain technology to design a trusted process for carbon trading. Then, we implement relevant smart contracts and build a DC-chain based on Hyperledger Fabric for efficient carbon trading. For larger-scale applications, analyzing blockchain protocols is an essential and necessary task. We propose a queuing network-based modeling approach to analyze the blockchain endorsement, ordering, and validation stages, and explore the impact of blockchain parameter configuration on system performance through theoretical modeling and experiments. To demonstrate the effectiveness of the proposed model, we utilize Caliper, a blockchain performance benchmarking framework, to compare the theoretical and experimental value. The results show that our proposed queuing model can fit the blockchain performance well.