Power load management terminals are essential components of the smart grid system. However, they encounter numerous security challenges owing to their widespread deployment across large areas. These nodes exist in uncontrollable physical environments and are vulnerable to malicious attacks. Researching security measures for these terminals is vital to enhancing the security of the smart grid. Blockchain technology, with its distributed storage and tamper-proof features, can effectively protect the data security of these terminals. This paper proposes a blockchain-based security protection model for power load management terminals. First, the architecture of the model is designed using blockchain technology. In addition, a dynamic trust evaluation method for terminals is established through the beta reputation system. The blockchain consensus algorithm for power load management terminals is designed based on the trust evaluation value and practical Byzantine fault tolerance. The effectiveness of the trust evaluation model is verified by simulating the terminal operating situation. The message complexity and storage requirements of the security protection model are analyzed by comparing them with results from related studies.