OnGrid Protocol Doc
  • Introduction to Ongrid Protocol
  • OnGrid Protocol
    • Problem Statement
    • OnGrid Protocol Solution
      • Core Features
  • Technical Architecture
    • Key Components:
      • Physical Infrastructure Layer (DePIN Devices)
      • Decentralized Network Layer
      • Blockchain and Storage Layer (Including Smart Contracts)
      • Application Layer
    • Technology Stack
  • Data Flow and Smart Contract Interactions
  • Security and Scalability Features
  • Use Cases
  • Roadmap
  • Conclusion
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  1. Technical Architecture
  2. Key Components:

Blockchain and Storage Layer (Including Smart Contracts)

This layer provides the decentralized infrastructure for transaction processing, carbon credit issuance, and permanent storage, with smart contracts automating key functionalities.

  • Components:

    • Blockchain:

      • Primary Blockchain: Ongrid Protocol uses a layer-2 blockchain Ethereum for transaction processing and smart contract execution.

      • Consensus Mechanism: Leverages Ethereum’s Proof of Stake for transaction finality and security.

    • Smart Contracts: Smart contracts are deployed on the blockchain to automate trustless processes, ensuring transparency and efficiency. Below are the key smart contracts and their functionalities:

      • Investment Management Contract:

        • Functionality:

          • Facilitates investments by allowing investors to commit funds to solar projects.

          • Locks investor funds in escrow until project milestones are met to release funds.

          • Distributes repayments to investors based on project performance, automatically calculating yields.

        • Interactions:

          • Receives energy data from the libp2p network to verify project performance.

          • Interfaces with the Application Layer to update investor dashboards with portfolio performance.

        • Example: An investor commits $10,000 to a solar project. The contract releases funds to the solar company upon installation verification and disburses monthly repayments to the investor based on energy generated.

      • Carbon Credit Issuance Contract:

        • Functionality:

          • Processes energy production data to calculate CO2 reductions using predefined methodologies (e.g., aligned with Verra/Gold Standard).

          • Issues on-chain carbon credits as tokens (e.g., ERC-1155 on Ethereum) for verified reductions.

          • Ensures compliance with international standards by integrating with off-chain APIs (e.g., Verra registry).

        • Interactions:

          • Receives aggregated energy data from the Data Aggregation Service in the Application Layer.

          • Stores issuance records on Arweave, with hashes recorded on the blockchain for transparency.

        • Example: A solar project generates 100 MWh, reducing 80 tons of CO2. The contract issues 80 carbon credits, minting them as tokens for the solar company or investor.

      • Carbon Credit Trading Contract:

        • Functionality:

          • Enables a decentralized marketplace for buying and selling carbon credits.

          • Matches buyers and sellers, executes trades, and transfers carbon credit tokens.

          • Charges a small transaction fee (e.g., 2%) to sustain platform operations.

        • Interactions:

          • Interfaces with the Carbon Credit Issuance Contract to verify available credits.

          • Updates the Application Layer with market data (e.g., credit prices, trading volume).

        • Example: An investor sells 50 carbon credits at $20 each. The contract facilitates the trade, transfers tokens to the buyer, and deducts a $100 fee (2%).

      • Arweave (Permanent Storage):

        • Stores immutable records of energy data, transaction history, carbon credit issuances, and audit logs.

        • Indexed using transaction hashes stored on the blockchain, enabling efficient data retrieval.

        • Ensures transparency for investors, regulators, and carbon credit buyers.

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Last updated 13 days ago