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However, the process of power generation, distribution and consumption across smart grids are highly complex. Conventional systems are more prone to various security attacks and become a single point of failure during many instances. This paper proposes a blockchain-based decentralised multiparty learning system to ensure the stability of the smart grid while enhancing security and efficiency measures through blockchain. Simulations were conducted using a power grid dataset from Kaggle, and observations were made considering various factors. From the experiment, it was noted that the proposed approach takes an average of 25 ms to read the data across the blocks and approximately 4\u00a0s to generate a new block. Moreover, concerning the addition of a higher number of intelligent terminals, the proposed approach consumes only 70% of the energy required by conventional methods to perform the task. 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