GreenVault: Decentralized Carbon Credit Marketplace

Project Overview

Tagline: "Securing nature's value on the blockchain"

GreenVault is a decentralized marketplace built on blockchain technology that enables transparent trading of carbon credits, promotes environmental sustainability, and rewards eco-friendly actions through tokenized incentives.

Problem Statement

Current carbon credit systems face several critical issues:

• Lack of transparency in carbon offset verification

• High transaction fees and intermediary costs

• Limited accessibility for small-scale environmental projects

• Difficulty in tracking real-world impact of carbon credits

• Fragmented markets with inconsistent pricing

Solution

GreenVault addresses these challenges by providing:

Core Features

1. Decentralized Carbon Credit Exchange

   • Peer-to-peer trading without intermediaries

   • Smart contract-based automated transactions

   • Real-time price discovery and market dynamics

2. Transparent Verification System

   • IoT integration for real-time environmental data

   • Oracle network for external data validation

   • Immutable record of all carbon offset activities

3. Tokenized Rewards (GRV Tokens)

   • Users earn GRV tokens for verified green actions

   • Staking mechanisms for long-term environmental commitments

   • Governance voting rights for platform decisions

4. Impact Tracking Dashboard

   • Real-time visualization of environmental impact

   • Personal carbon footprint calculator

   • Community leaderboards and achievements

Technical Architecture

Blockchain Infrastructure

• Primary Chain: Polygon (for low fees and fast transactions)

• Secondary Integration: Ethereum mainnet for high-value transactions

• Smart Contracts: Solidity-based contracts for:

  • Carbon credit minting and burning

  • Marketplace functionality

  • Reward distribution

  • Governance mechanisms

Technology Stack

• Frontend: React.js with Web3.js integration

• Backend: Node.js with Express.js

• Database: IPFS for decentralized storage + MongoDB for caching

• Oracles: Chainlink for external data feeds

• Wallet Integration: MetaMask, WalletConnect

• APIs:

  • Carbon footprint calculation APIs

  • Satellite imagery for forest monitoring

  • Weather data for renewable energy verification