Introduc on to Blockchain

 The blockchain is a distributed database of records of all transac ons or digital events that have been executed
and shared among par cipa ng par es.
 Each transac on is verified by the majority of par cipants of the system. It contains every single record of each
transac on.
 Bitcoin is the most popular cryptocurrency an example of the blockchain.
 Blockchain Technology Records Transac on in Digital Ledger which is distributed over the Network thus making it
incorrup ble. Anything of value like Land Assets, Cars, etc. can be recorded on Blockchain as a Transac on.
 Blockchain is a decentralized, distributed digital ledger that records transac ons across mul ple computers in a
secure and immutable manner.
 It eliminates the need for a central authority by enabling peer-to-peer (P2P) transac ons that are verified and
recorded transparently.
 Each transac on is stored in a block, and these blocks are linked together in a chain using cryptographic hashes,
ensuring security and integrity.
 Once a block is added to the blockchain, it cannot be altered, making the system tamper-proof and trustworthy.

How does Blockchain Technology Work?

 One of the famous use of Blockchain is Bitcoin.
 Bitcoin is a cryptocurrency and is used to exchange digital assets online. Bitcoin uses cryptographic proof instead
of third-party trust for two par es to execute transac ons over the Internet.
 Each transac on protects through a digital signature.

Blockchain Decentraliza on
There is no Central Server or System which keeps the data of the Blockchain. The data is distributed over Millions of
Computers around the world which are connected to the Blockchain. This system allows the Notariza on of Data as it is
present on every Node and is publicly verifiable.
Blockchain nodes
 A node is a computer connected to the Blockchain Network. Node gets connected with Blockchain using the
client.
 The client helps in valida ng and propaga ng transac ons onto the Blockchain.
 When a computer connects to the Blockchain, a copy of the Blockchain data gets downloaded into the system
and the node comes in sync with the latest block of data on Blockchain.

Disadvantages of the current transac on system:

 Cash can only be used in low-amount transac ons locally.

 The huge wai ng me in the processing of transac ons.

 The need for a third party for verifica on and execu on of Transac ons makes the process complex.

 If the Central Server like Banks is compromised, the whole system is affected including the par cipants.

 Organiza ons doing valida on charge high process thus making the process expensive.

Peer-to-Peer (P2P) Network

What are peer-to-peer (P2P) networks?

A peer-to-peer (P2P) network is based on the concept of decentralisa on, which allows the par cipants to conduct
transac ons without needing a central server.

The peers or nodes (usually a computer) communicate with each other on the network freely without an intermediary.
Unlike the tradi onal client-server model, where the client makes a request, and the server completes the request, the
P2P network model allows the nodes to func on as both the client and the server, giving them equal power and making
them perform the same tasks in a network.

Blockchain is a P2P network that acts as a decentralised ledger for digital assets.

How do peer-to-peer (P2P) networks work?

As we know, a P2P network has no central server overlooking them; the users or nodes are responsible for maintaining
the network. Every node par cipa ng in the network acts as a server that can upload, download, and share files with
other nodes. The nodes use their hard drives instead of a central server to store this data. As these capabili es to
transmit, receive and store files lie with each node, the P2P network is more secure, fast and efficient.

Types of peer-to-peer (P2P) networks

Structured peer-to-peer networks

In this network, an organised structure is used in which the nodes interact, making it possible for the nodes to easily
search for files even if the data is unavailable.

Due to this organised structure, some amount of centralisa on exists in this type of network.

Despite providing easy access to data, a structured P2P network is more challenging and costly to set up.

Unstructured peer-to-peer networks

In this type of network, there is no set structure for the nodes to follow. Par cipants can join or leave the network as and
when they desire.

This lack of a definite structure leads par cipants to communicate randomly with each other. This network is easy to
build, but it requires high CPU power as all nodes must remain ac ve to process a high number of transac ons.
Memory usage is also increased as search queries are sent to the whole network. An unstructured peer-to-peer network
is best applicable for high churn ac vity, such as for a social pla orm.

Hybrid peer-to-peer networks

A hybrid P2P network is a combina on of a peer-to-peer and client-server model.

The network has a central server that stores informa on on the loca on of resources and uses this server to conduct
searches.

In comparison to the structured and unstructured P2P network, a hybrid P2P network has be er performance. It
provides centralisa on, which is required for specific queries while providing the benefits of a decentralised network.

Role of Peer-to-peer (P2P) in Blockchain

P2P networking architecture is a fundamental element in blockchain technology, as it allows cryptocurrencies (e.g.
Bitcoin network) to be transferred globally without any intermediary, middleman or central server.

Blockchain leverages the P2P network technology to provide a decentralised ledger for one or more digital assets. In this
decentralised P2P network, all the nodes or computers are connected to one another in some way.

A complete copy of the ledger is maintained by each node and is compared to other nodes to ensure the accuracy of
data. This is the opposite of a bank, where transac ons are privately stored and can only be managed by the bank.

Benefits of P2P networks

 Low cost
 Scalable
 Resilient

Drawbacks of P2P networks

 Slow performance
 Data is vulnerable
 High computa onal power

Public Ledger:
Ledger-

The blockchain itself serves as a distributed ledger that records all transac ons in a secure and immutable manner. The
ledger is composed of blocks, each containing a set of transac ons, a mestamp, and a reference (hash) to the previous
block, forming a chronological chain.

1. Public Ledger: It is open and transparent to all. Anyone in the blockchain network can read or write something.

2. Distributed Ledger: In this ledger, all nodes have a local copy of the database. Here, a group of nodes collec vely
execute the job i.e verify transac ons, add blocks in the blockchain.

3. Decentralized Ledger: In this ledger, no one node or group of nodes has a central control. Every node
par cipates in the execu on of the job.
Public ledger-

A blockchain is essen ally a public ledger—a digital record that stores all verified transac ons in a transparent and
immutable manner.

Each block in the chain contains a set of transac ons, cryptographic hashes, and references to the previous block,
ensuring con nuity and security.

Public ledgers are key to decentralized systems like Bitcoin and Ethereum, where all par cipants can view transac on
histories.

A public ledger is a decentralized and transparent digital record of transac ons that is accessible to all par cipants in a
blockchain network. It records and verifies transac ons chronologically and immutably, ensuring trust and security
without the need for a central authority.

In simple terms, a public ledger is like an open book that anyone can view, but no one can alter once the data is
recorded.

A public ledger is maintained and updated using distributed consensus mechanisms, such as Proof of Work (PoW) or
Proof of Stake (PoS).

Example of Public Ledger in Ac on

Bitcoin Blockchain

Public Ledger: Bitcoin’s blockchain records every transac on since its incep on.

Transparency: Anyone can check Bitcoin transac ons using block explorers (e.g., Blockchain.com).

Security: Transac ons are validated through mining (Proof of Work) and linked securely.

Immutability: No one can modify past transac ons, ensuring fraud preven on.

Example Transac on:

 Alice sends 1 BTC to Bob.

 The transac on is verified by miners and recorded in a new block.
 The updated public ledger is distributed across all nodes.
 Bob receives the Bitcoin, and the transac on remains permanently visible in the ledger.

Advantages of a Public Ledger

Transparency: Prevents fraud and corrup on.

Security: Cryptographic protec on ensures data integrity.

Decentraliza on: Eliminates reliance on central authori es.

Trustless Transac ons: No need for intermediaries like banks.

Tamper-Proof: Transac ons cannot be altered or reversed.

Challenges of a Public Ledger

Scalability Issues: As the blockchain grows, the ledger becomes larger, requiring more storage and processing power.

Privacy Concerns: Transac ons are visible to everyone, which can be a drawback for sensi ve transac ons.

Energy Consump on: Proof of Work (PoW) networks require significant computa onal power (e.g., Bitcoin mining).
Double Spend Problem
The double-spending problem arises in digital transac ons where a user may a empt to spend the same digital asset
more than once.

Double spending occurs when someone tries to use the same digital currency more than once. Here’s a simplified
example using transac ons to illustrate how it can happen:

1. Ini al Transac on: Alice has 1 Bitcoin (BTC). She decides to send 1 BTC to Bob. This transac on is broadcast to
the network and is pending confirma on.

2. A empt to Double Spend: While the transac on to Bob is s ll pending, Alice tries to spend the same 1 BTC
again. She creates a second transac on, sending the same 1 BTC to Charlie. This second transac on is also
broadcast to the network.

3. Network Propaga on: The two transac ons (to Bob and Charlie) are now compe ng to be included in the
blockchain. Each transac on is seen by different nodes in the network, and there may be a delay in the en re
network agreeing on which transac on is valid.

4. Block Confirma on: The network eventually confirms one of the transac ons (e.g., the transac on to Bob). This
transac on is added to a block in the blockchain, making it permanent.

5. Conflict Resolu on: If the transac on to Bob is confirmed first, the network sees that Alice has already spent the
1 BTC, so the transac on to Charlie is invalidated. If the transac on to Charlie somehow gets confirmed first,
Bob’s transac on will be rejected.

6. Final Outcome: The blockchain only records one transac on because it is designed to prevent double-spending.
The system resolves the conflict by ensuring that only one of Alice’s transac ons is valid

Types of Double Spending A acks

1. Race A ack

 The a acker sends two conflic ng transac ons simultaneously—one to a vendor (merchant) and another to
themselves.

 If the vendor accepts unconfirmed transac ons, they risk losing money.

 Preven on: Merchants should wait for at least one blockchain confirma on before considering the payment
valid.

2. Finney A ack

 Requires a miner who first mines a transac on to themselves and then broadcasts a conflic ng transac on to a
merchant.

 If the merchant accepts the second transac on before the first is confirmed in a block, they suffer a loss.

 Preven on: Merchants should wait for mul ple confirma ons.

3. 51% A ack

 If an en ty controls more than 50% of the network’s mining power, they can rewrite the blockchain history and
reverse transac ons.

 This allows them to spend the same cryptocurrency mul ple mes.
  Preven on: Networks should ensure distributed mining power and adopt security measures like Proof of Stake
(PoS).

How Blockchain Prevents Double Spending?

Blockchain technology solves the double spend problem through cryptographic hashing, decentraliza on, and
consensus mechanisms like Proof of Work (PoW) and Proof of Stake (PoS).

1. Blockchain Ledger & Transparency

 Every transac on is recorded in a public ledger that is visible to all par cipants.

 Once a transac on is confirmed in a block, it cannot be reversed or altered.

2. Cryptographic Hashing & Linking

 Each block contains a hash of the previous block, forming a tamper-proof chain.

 Any a empt to modify past transac ons would require recompu ng all hashes, which is computa onally
infeasible.

3. Consensus Mechanisms

Proof of Work (PoW) (Used in Bitcoin)

 Miners solve complex puzzles to add transac ons to the blockchain.

 A valid transac on requires confirma on from mul ple miners, preven ng fraud.

Proof of Stake (PoS) (Used in Ethereum 2.0)

 Validators stake cryptocurrency and are chosen randomly to validate transac ons.

 A malicious validator a emp ng a double spend risks losing their staked funds, discouraging fraud.

4. Confirma on Time

 Transac ons require mul ple confirma ons before they are considered valid.

 The more confirma ons a transac on has, the harder it is to alter.

Real-World Example of Double Spend A empt

In 2009, an early Bitcoin user a empted a double-spend a ack by sending two conflic ng transac ons to
different recipients. However, Bitcoin's Proof of Work consensus prevented the a ack, as only one transac on was
confirmed in the blockchain.

History of Blockchain:
1991 – Birth of Blockchain Concept

Researchers Stuart Haber and W. Sco Storne a introduced blockchain technology to develop a secure, me-stamped
system for digital documents. Using cryptographic methods, they created a structure where documents were stored in a
chain of blocks, preven ng tampering or backda ng.
1992 – Introduc on of Merkle Trees

Merkle Trees were integrated into the exis ng system, enhancing blockchain's efficiency by storing mul ple records in
one block. This development allowed blockchain to handle larger datasets securely. However, due to patent restric ons,
its adop on remained limited un l 2004.

2000 – Stefan Konst’s Cryptographic Theories

Stefan Konst published a theory on cryptographic secured chains and proposed prac cal implementa ons for
blockchain, laying the groundwork for its future evolu on.

2004 – Reusable Proof of Work (RPoW) by Hal Finney

Hal Finney, a cryptographic ac vist, introduced Reusable Proof of Work (RPoW), which tackled the double-spending
problem by keeping a record of token ownership on a trusted server. This concept played a crucial role in shaping
blockchain’s trustless transac ons.

2008 – Satoshi Nakamoto and Distributed Blockchain

An anonymous individual or group, Satoshi Nakamoto, published the Bitcoin whitepaper: "A Peer-to-Peer Electronic
Cash System."
This whitepaper introduced the distributed blockchain model, modifying Merkle Trees to enable a secure, decentralized
ledger using a peer-to-peer network.

2009 – Bitcoin and Blockchain Go Live

Satoshi Nakamoto mined the first Bitcoin block (Genesis Block), marking the launch of blockchain as a public ledger.
Bitcoin became the first prac cal applica on of blockchain.

2014 – Blockchain 2.0 Emerges

Blockchain was separated from cryptocurrency, leading to the development of Blockchain 2.0. This version focused on
smart contracts, enterprise applica ons, and financial services.

2015 – Ethereum and Hyperledger

Ethereum launched the Fron er Network, enabling smart contracts and decentralized applica ons (dApps). The Linux
Founda on introduced Hyperledger, promo ng enterprise blockchain solu ons.

2016 – Blockchain Standardiza on and Security Challenges

 The term "Blockchain" was officially recognized as a single word.

 A major bug in Ethereum’s DAO code led to a hard fork, spli ng Ethereum into Ethereum (ETH) and Ethereum
Classic (ETC).

 Bi inex suffered a hack, losing 120,000 BTC.

2017 – Japan Recognizes Bitcoin and EOS Launched

 Japan legalized Bitcoin as an official currency.

 Block.one launched the EOS blockchain, designed for commercial dApps.

2018 – Bitcoin Turns 10 Amid Market Challenges

 Bitcoin’s price dropped to $3,800 by the year’s end.

 Google, Twi er, and Facebook banned cryptocurrency ads due to scam concerns.
2019 – Ethereum Milestone and Amazon Enters Blockchain

 Ethereum surpassed 1 million transac ons per day.

 Amazon Web Services (AWS) launched Amazon Managed Blockchain, making blockchain adop on easier for
businesses.

2020 – Rise of Stablecoins and Ethereum 2.0 Begins

 Stablecoins gained popularity due to their price stability.

 Ethereum launched the Beacon Chain, preparing for its transi on to Ethereum 2.0.

2022 – Ethereum Shi s to Proof of Stake (PoS)

Ethereum merged its mainnet with Beacon Chain, officially transi oning from Proof of Work (PoW) to Proof of Stake
(PoS). This change reduced Ethereum’s energy consump on by ~99.95%, making it more sustainable.

Timeline Blockchain Bitcoin Ethereum

Stuart Haber and Sco Storne a Work on The

1991 NA NA
First Blockchain

Merkle Trees formed a legal corpora on using a

1992 system developed by Stuart Haber and W. Sco NA NA
Storne a

Stefan Konst published his theory of

2000 NA NA
cryptographic secured chains

Cryptographic ac vist Hal Finney introduced

2004 NA NA
“Reusable Proof of Work”.

Satoshi Nakamoto conceptualized the concept of

2008 “Distributed Blockchain” in his white paper: ”A NA NA
Peer to Peer Electronic Cash System”.

 James Howells
was an IT
worker in the
2009 NA
United Kingdom,
who starts
mining bitcoin.
Timeline Blockchain Bitcoin Ethereum

 Satoshi
Nakamoto
Releases Bitcoin
White Paper

Ethereum Blockchain Is Funded

2014 Blockchain 2.0 is born. NA
By Crowdsale

Linux Founda on launched the Hyperledger Ethereum Fron er Network

2015 NA
project. was launched

Bi inex bitcoin exchange

Blockchain is accepted as a single word instead of was hacked resul ng in
2016 NA
two different concepts 120,000 bitcoin being
stolen.

Block.one company introduced the EOS Japan recognized Bitcoin

2017 NA
blockchain opera ng system. as a legal currency.

Google, Twi er, and Facebook banned the Bitcoin turned 10 in the
2018 NA
adver sing of cryptocurrencies. year 2018.

Ethereum network transac ons

2019 NA NA
exceeded 1 million per day.

Ethereum launched Beacon

2020 Stablecoins saw a rise. NA Chain in prepara on for
Ethereum 2.0.

Ethereum Merge. Ethereum’s

2022 NA NA consensus mechanism is now
PoS.
Features of Blockchain:
1. Decentraliza on

 No single authority controls the blockchain.

 Data is stored across mul ple nodes (computers) in a peer-to-peer (P2P) network.

 Reduces the risk of failure or manipula on by a central en ty.

2. Immutability

 Once a transac on is recorded, it cannot be altered or deleted.

 Each block is linked to the previous one using cryptographic hashes, ensuring data integrity.

 Prevents fraud, double-spending, and unauthorized modifica ons.

3. Transparency

 Transac ons are visible to all network par cipants (in public blockchains like Bitcoin and Ethereum).

 Enhances trust and accountability in financial transac ons, supply chains, and governance systems.

4. Security

 Uses cryptographic algorithms (like SHA-256) to protect data.

 Every transac on is encrypted and digitally signed to ensure authen city.

 Eliminates risks of hacking and unauthorized access.

5. Consensus Mechanisms

 Blockchain networks use consensus protocols to validate transac ons without a central authority.

 Consensus is a decision-making algorithm for the group of nodes ac ve on the network to reach an agreement
quickly and faster and for the smooth func oning of the system.

 Common mechanisms include:

o Proof of Work (PoW) – Miners solve complex mathema cal puzzles (Bitcoin).

o Proof of Stake (PoS) – Validators are chosen based on the amount of cryptocurrency they hold
(Ethereum 2.0).

6. Distributed Ledger

 A shared, synchronized digital ledger that is updated across all nodes in the network.

 Every par cipant has a copy of the ledger, ensuring reliability and fault tolerance.
7. Anonymity & Privacy

 Users are iden fied using public addresses, not personal details.

 Enhances privacy while maintaining transparency (in public blockchains).

 Private blockchains allow controlled access for enhanced security.

8. Faster Transac ons & Automa on

 Reduces reliance on intermediaries like banks or third par es.

 Transac ons are completed in minutes instead of days (especially for cross-border payments).

Types of Blockchain
1. Public Blockchain
A public blockchain is a fully decentralized network where anyone can par cipate in transac on valida on and network
ac vi es.

Characteris cs

Decentralized & Open – Anyone can join and par cipate.

Transparent – Transac ons are visible to all par cipants.
Immutable – Data cannot be changed once recorded.
Secure – Uses cryptographic encryp on and consensus mechanisms.

Examples

 Bitcoin – The first and most widely used public blockchain for digital currency transac ons.

 Ethereum – Supports smart contracts and decentralized applica ons (DApps).

 Litecoin – A Bitcoin alterna ve with faster transac ons.

Advantages

✔ High security due to decentraliza on.

✔ Transparency enhances trust.
✔ Eliminates intermediaries.

Disadvantages

Slow transac on speeds due to high network traffic.

High energy consump on (Proof of Work in Bitcoin).
Scalability issues due to large data size.

2. Private Blockchain
A private blockchain is a permissioned network controlled by a single organiza on. Par cipa on is restricted to
authorized users.

Characteris cs
 Controlled Access – Only authorized users can join and validate transac ons.
Faster Transac ons – Limited par cipants reduce network conges on.
More Scalable – Can handle more transac ons per second (TPS).

Examples

 Hyperledger Fabric – An enterprise-focused blockchain for supply chain and finance.

 Corda (R3) – Designed for secure business transac ons between financial ins tu ons.

Advantages

✔ Higher efficiency and transac on speed.

✔ Be er control over security and privacy.
✔ Customizable to business needs.

Disadvantages

Less decentralized – Trust is placed in a central authority.

Lower security than public blockchains.
Transparency is limited to authorized members.

3. Consor um (Hybrid) Blockchain

A consor um blockchain (also called hybrid blockchain) is governed by mul ple organiza ons rather than a single en ty.
It combines features of both public and private blockchains.

Characteris cs

Semi-Decentralized – Governed by a group of organiza ons.

Par ally Transparent – Some data is publicly accessible, while sensi ve data remains private.
More Secure than Private Blockchains – Since mul ple organiza ons control it, collusion is less likely.

Examples

 R3 Corda – Used in financial services for secure banking transac ons.

 Energy Web Founda on – A blockchain for energy sector transparency.

Advantages

✔ Increased efficiency compared to public blockchains.

✔ More secure than private blockchains.
✔ Reduces single-point-of-failure risks.

Disadvantages

Not fully decentralized.

Requires coordina on among mul ple par es.
Less transparent than public blockchains.

Comparison of Blockchain Types

Feature Public Blockchain Private Blockchain Consor um Blockchain

Control Fully decentralized Centralized Semi-decentralized

Restricted to mul ple

Access Open to anyone Permissioned
organiza ons

Speed Slower due to large network Faster due to fewer par cipants Moderate

Security High Moderate High

Transparency Fully transparent Limited Par ally transparent

Enterprise applica ons, Supply

Use Cases Cryptocurrencies, DeFi, Vo ng Banking, Supply chain, Healthcare
chains

Applica on of Blockchain
1. Cryptocurrencies and Digital Payments

Use Case: Blockchain is the founda on of cryptocurrencies like Bitcoin, Ethereum, and Ripple, enabling secure and
decentralized financial transac ons.
Benefits:
Eliminates the need for banks and intermediaries.
Faster cross-border payments with lower transac on fees.
Protec on against fraud and double-spending.
Example: Bitcoin (BTC) transac ons are verified using Proof of Work (PoW), ensuring transparency and security.

2. Smart Contracts & Decentralized Applica ons (DApps)

Use Case: Smart contracts are self-execu ng agreements stored on a blockchain that run automa cally when
predefined condi ons are met.
Benefits:
Eliminates intermediaries (e.g., lawyers, banks).
Reduces costs and execu on me.
Ensures trust and transparency in business agreements.
Example: Ethereum enables smart contracts, allowing developers to create decentralized apps (DApps) like Uniswap
(DeFi exchange) and Aave (lending pla orm).

3. Supply Chain Management

Use Case: Blockchain enhances traceability, transparency, and efficiency in global supply chains.
Benefits:
Tracks goods from produc on to delivery, preven ng fraud.
Reduces counterfei ng and ensures product authen city.
Improves efficiency by automa ng supply chain transac ons.
Example: Walmart uses IBM’s Hyperledger Fabric to track food products and reduce contamina on risks.

4. Healthcare & Medical Records Management

 Use Case: Blockchain secures electronic health records (EHRs) and ensures data integrity.
Benefits:
Prevents data breaches and unauthorized access.
Ensures accurate pa ent history across mul ple hospitals.
Facilitates secure and transparent drug tracking to eliminate counterfeit medicines.
Example: MedRec (MIT project) secures pa ent records using blockchain technology.

5. Banking and Financial Services

Use Case: Blockchain modernizes tradi onal banking by enabling secure and instant transac ons.
Benefits:
Reduces se lement mes from days to minutes.
Lowers opera onal costs by removing intermediaries.
Provides financial services to the unbanked popula on.
Example: JPMorgan’s JPM Coin is a blockchain-based digital currency used for real- me cross-border transac ons.

6. Vo ng Systems & Digital Iden ty

Use Case: Blockchain ensures tamper-proof and transparent vo ng mechanisms.

Benefits:
Prevents elec on fraud and vote manipula on.
Allows secure online vo ng, increasing accessibility.
Provides self-sovereign iden ty (SSI) solu ons to prevent iden ty the .
Example: Estonia’s government uses blockchain for e-governance and vo ng systems.

7. Internet of Things (IoT) & Smart Ci es

Use Case: Blockchain enhances security and automa on in IoT devices.

Benefits:
Prevents hacking by securing data exchanges between IoT devices.
Enables automated machine-to-machine (M2M) payments.
Improves urban infrastructure in smart ci es (e.g., automated traffic management).
Example: IBM Watson IoT integrates blockchain for secure device-to-device communica on.

8. Insurance & Claims Processing

Use Case: Blockchain automates insurance claims through smart contracts.

Benefits:
Reduces fraud by ensuring only valid claims are processed.
Speeds up claim se lements without manual interven on.
Increases transparency in policy agreements.
Example: Lemonade uses blockchain to automate insurance claim processing.

9. Logis cs & Transporta on

Use Case: Blockchain op mizes freight tracking, fleet management, and shipment verifica on.
Benefits:
Prevents lost or stolen shipments by providing real- me tracking.
Eliminates paperwork with digital bills of lading (BOLs).
 Ensures authen city of goods through tamper-proof documenta on.
Example: Maersk and IBM’s TradeLens pla orm streamlines global shipping using blockchain.

10. Energy & Renewable Resources

Use Case: Blockchain enables decentralized energy trading and carbon credit tracking.
Benefits:
Facilitates peer-to-peer (P2P) energy trading without intermediaries.
Ensures transparency in carbon footprint tracking.
Reduces reliance on centralized power grids.
Example: Power Ledger allows users to buy and sell renewable energy directly.