CarbonTrace

CarbonTrace is an innovative Web3 platform designed to bring transparency, efficiency, and accountability to the carbon credit market. This platform serves as a decentralized hub where three main types of users interact: buyers, offsetters, and validators. Buyers: These are companies or organizations that need to purchase carbon credits to offset their carbon emissions. CarbonTrace offers these buyers a streamlined and transparent way to acquire carbon credits on-chain using a platform-specific token called CBT (CarbonTrace Token). The Buyers buy the token in ethers and the ethers go to the contract.

Offsetters: Offsetters are individuals, organizations, or projects focused on mitigating environmental impact through activities like reforestation, renewable energy initiatives, and other carbon offsetting strategies. On CarbonTrace, offsetters can register and submit detailed applications outlining their proposed environmental projects. These applications include information about the project's goals, methods, expected carbon reduction, and the funding required to carry out the project.

Validators: Validators are responsible for reviewing the applications submitted by offsetters. Validators assess the viability and potential impact of each project, ensuring that only legitimate and effective initiatives receive funding. If a project is approved by the validators, the offsetters receive the necessary funds in Ethers to implement their project. Validators act as gatekeepers, maintaining the quality and credibility of the projects funded through the platform. The funding comes from the contract.

Technologies Used: Blockchain and Smart Contracts:

Optimism Sepolia: The CarbonTrace platform is built on the Optimism Sepolia blockchain, chosen for its emphasis on accessibility, low transaction fees when transacting with ethers. Smart Contracts: To manage the key functions of the platform. These include: Registration Contract: Manages the registration and identity verification of buyers, offsetters, and validators. Application Contract: Handles the submission, review, and approval process for environmental project applications. Validators interact with this contract to review and either approve or reject applications. Token Contract: Manages the issuance, transfer, and redemption of the platform-specific CBT tokens. This contract ensures that all transactions, whether purchasing carbon credits or funding offsetter projects, are transparent and securely executed on the blockchain.

Frontend Development:

Next.js: The frontend of CarbonTrace is built using Next.js, a React framework that offers server-side rendering and static site generation. This choice was made to ensure that the platform is fast, scalable, and provides an excellent user experience across different devices. Tailwind CSS: For styling, Tailwind CSS was used to create a responsive and modern user interface. Tailwind’s utility-first approach allowed for rapid development and customization, ensuring that the UI is both visually appealing and functional.

Backend and APIs:

Wagmi: For the interaction of the smartcontract and the frontend. Goldsky: For subgraph deployment and indexing, Goldsky was used to track and query blockchain data efficiently. Used goldsky to track payments made to offsetters. Pinata: For handling upload of offsetters applications files.