Analyzing the Impact of Blockchain-Based Power Trading in Residential Communities: A Quantitative Approach

The growing demand for sustainable energy has fueled the popularity of microgrids. To meet this demand, microgrids are now integrating renewable energy trading platforms. Modern technologies like smart home systems, interconnected networks, and blockchain bolster these microgrids. These technologies enhance system management and maintenance, providing a secure platform for transactions and data exchange within blockchain-enabled community housing settings. To ensure the security and transparency of automated energy trading, smart contracts leveraging blockchain technology are employed. These digital contracts ensure that all parties adhere to trade terms. Blockchain-powered smart contracts guarantee transparency and security, eliminating the need for intermediaries. This study proposes a smart contract for energy trading in community housing. This contract verifies the accuracy of information on power production and consumption by the central home miner. The integration of blockchain and smart contracts in microgrids not only promotes renewable energy adoption but also enhances efficiency and safety in energy management and maintenance systems.