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

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).