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A Dynamic Trading Approach Based on Walrasian Equilibrium in a Blockchain-Based NFT Framework for Sustainable Waste Management

Author

Listed:
  • Ch Sree Kumar

    (Department of Computer Science and Engineering, National Institute of Technology Meghalaya, Shillong 793003, India)

  • Aayushman Bhaba Padhy

    (Department of Computer Science and Engineering, NIST Institute of Science and Technology (Autonomous), Berhampur 761008, India)

  • Akhilendra Pratap Singh

    (Department of Computer Science and Engineering, National Institute of Technology Meghalaya, Shillong 793003, India)

  • K. Hemant Kumar Reddy

    (Department of Computer Science and Engineering, VIT-AP University, Amaravati 522237, India)

Abstract

It is becoming harder to manage the growing amounts of waste generated daily at an increasing rate. These problems require an efficient solution that guarantees effectiveness and transparency and maintains trust within the community. To improve the process of traditional waste management, we proposed a unique solution, “GREENLINK”, which uses a combination of blockchain technology with the concept of zero-knowledge proofs (ZKPs), non-fungible tokens (NFTs), and Walrasian equilibrium. Zero-knowledge proofs (cryptographic protocols) are used to verify organizations and prove compliance (e.g., certification, recycling capacity) without disclosing sensitive information. Through an iterative bidding process, the proposed framework employs Walrasian equilibrium, a technique to balance supply and demand, guaranteeing equitable pricing and effective resource distribution among participants. The transactions and waste management activities are securely recorded on an immutable ledger, ensuring accountability, traceability, and transparency. The performance of the proposed model is evaluated. Parameters like average latency, TPS, and memory consumption are calculated using Hyperledger Caliper (a blockchain performance benchmark framework).

Suggested Citation

  • Ch Sree Kumar & Aayushman Bhaba Padhy & Akhilendra Pratap Singh & K. Hemant Kumar Reddy, 2025. "A Dynamic Trading Approach Based on Walrasian Equilibrium in a Blockchain-Based NFT Framework for Sustainable Waste Management," Mathematics, MDPI, vol. 13(3), pages 1-23, February.
    • Handle: RePEc:gam:jmathe:v:13:y:2025:i:3:p:521-:d:1583718
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    References listed on IDEAS

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    1. Roberto G. Chiquito-Contreras & Luis Hernandez-Adame & Gerardo Alvarado-Castillo & María de J. Martínez-Hernández & Gabriela Sánchez-Viveros & César J. Chiquito-Contreras & Luis G. Hernandez-Montiel, 2022. "Aquaculture—Production System and Waste Management for Agriculture Fertilization—A Review," Sustainability, MDPI, vol. 14(12), pages 1-13, June.
    2. Artur Mielcarek & Karolina Kłobukowska & Joanna Rodziewicz & Wojciech Janczukowicz & Kamil Łukasz Bryszewski, 2023. "Water Nutrient Management in Soilless Plant Cultivation versus Sustainability," Sustainability, MDPI, vol. 16(1), pages 1-20, December.
    3. Xiaozhi Ma & Hongping Yuan & Wenbo Du, 2024. "Blockchain-Enabled Construction and Demolition Waste Management: Advancing Information Management for Enhanced Sustainability and Efficiency," Sustainability, MDPI, vol. 16(2), pages 1-14, January.
    4. Oana Marin & Tudor Cioara & Liana Toderean & Dan Mitrea & Ionut Anghel, 2023. "Review of Blockchain Tokens Creation and Valuation," Future Internet, MDPI, vol. 15(12), pages 1-27, November.
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