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

Ch Sree Kumar, Aayushman Bhaba Padhy, Akhilendra Pratap Singh and K. Hemant Kumar Reddy ()
Additional contact information
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

Mathematics, 2025, vol. 13, issue 3, 1-23

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).

Keywords: non-fungible tokens (NFTs); blockchain; zero-knowledge proofs (ZKPs); waste management; decentralized system; Walrasian equilibrium; dynamic bidding; metamask; blockchain; Hyperledger Caliper (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2025
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2227-7390/13/3/521/pdf (application/pdf)
https://www.mdpi.com/2227-7390/13/3/521/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jmathe:v:13:y:2025:i:3:p:521-:d:1583718

Access Statistics for this article

Mathematics is currently edited by Ms. Emma He

More articles in Mathematics from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().