The document introduces the Cost Optimized Identity based Ring Signature (COIRS) framework designed for data sharing in cloud computing, emphasizing its ability to enhance authenticity, anonymity, and efficiency while reducing costs. By eliminating traditional certificate verification processes, COIRS allows for more streamlined and economically feasible data sharing among groups, while providing forward secrecy to protect past signatures even if the current key is compromised. The paper discusses the framework's advantages in smart grid applications and outlines its architecture and mathematical assumptions.