GRIDSHARE: A Blockchain-Enabled Peer-to-Peer Energy Trading Platform for Dynamic Pricing, Double Auction Market Mechanism, and Secure Decentralized Transactions
Abstract
Energy management and renewable energy integration are becoming increasingly important as rooftop solar adoption continues to grow. While solar panels enable house-holds to generate clean energy, traditional centralized energy distribution models often limit effective utilization of surplus power and lack transparency for small-scale participants. This creates a strong demand for smarter and decentralized energy trading solutions. To address this challenge, they have developed GridShare, a peer-to-peer energy trading platform that enables prosumers to sell surplus solar energy directly to consumers in a secure and transparent manner. The system provides features such as dynamic energy pricing, double auction-based market trading, secure wallet-based transactions, fraud detection, and detailed analytical dashboards. Energy trades are recorded on a blockchain using a proof-of-work consensus mechanism to ensure immutability, traceability, and trust among participants. Methodologically, the platform follows a modular approach where energy generation data is captured in real time, market orders are placed through an auction system, transactions are validated on-chain, and analytics provide insights for decision-making. In this way, GridShare promotes efficient energy utilization, reduces dependency on centralized grids, and supports a sustainable and decentralized energy ecosystem.
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