The catalyst for clean and green energy using blockchain technology

This study investigates the potential influence of blockchain technology on the energy sector, as well as the opportunities it may present for energy customers and consumers. Blockchain, which began as a niche product on the outskirts of the market, has been attracting the attention of specialists in a variety of industries for some time now, and has been increasingly in the limelight of the media. The blockchain innovation is that transactions are no longer recorded in a central database, but are instead dispersed to all participating computers, each of which stores the data locally. Bitcoin, a so-called cryptocurrency, was the first blockchain application. Bitcoin has formed the foundation for numerous blockchain applications in recent years, the majority of which are now being developed in the financial sector. Several organizations are putting their efforts to apply the blockchain principle in the energy sector. Several distinct elements of smart grids influence the use and acceptance of distributed ledger technologies for the decentralized energy Internet. Grid systems are closed and regulated in terms of ownership and governance, notwithstanding the smart grid's (SG) great ICT deployment. This belief, on the other hand, is gradually shifting. Despite this, the (smart) grid is an important component of the infrastructure. Its regulation is determined by the perspective of a huge corporation as well as the potential financial implications. It also demonstrates a system that is very distributed and diverse, notably in the consumer domain. It stands out because of its large and diverse client base, as well as the different communication technologies required for smart grid application communication, flows. All transaction data would be decentralized and stored on a blockchain, allowing for a distributed, secure record of all energy transfers and commercial activity. If recorded on a blockchain, both energy flows and transactions, which would be launched in part by smart contracts, might be logged in a tamper-proof manner. Smart contracts that manage the system and distributed ledgers that securely record all activities would have a direct impact on network and storage operations.