Abstract: With the opening of the power market on the distribution grid side, the power trading participants are diversified, and the power trading strategies are also different. Aiming at the problems in the existing research on multi-microgrid power trading, such as no complete transaction process and mostly on centralized transaction, this paper proposes a smart transaction strategy based on blockchain for multiple microgrids. Firstly, we establish a multi-microgrid intelligent transaction architecture based on blockchain to provide a decentralized transaction platform. Secondly, we establish a multi-microgrid electricity-trading strategy. In the first round of trading, microgrid nodes make quotations considering transaction risk factors, and then clear the market according to the clearing strategy considering the reputation through two-stage bidding match. In the next round of trading, the risk factor can be adjusted adaptively to obtain higher benefits. Finally, a reputation consensus mechanism is used to achieve data consistency. The simulation results prove the effectiveness of the trading strategy and reputation consensus mechanism.