GRN Grid, a green energy-focused blockchain, announced that it had secured a $50 million investment from Bahamas-based venture capital firm GEM Digital on September 19, 2022, in Switzerland.
- GRNGrid is a layer 1 blockchain that is environment-friendly and scalable. It allows users to select only nodes powered with renewable energy to verify transactions. GRNGrid is introducing its Proof of Stake v2. Its design tackles crypto whales and implements a fairer distribution. This staking consensus will provide better security, enhanced decentralization, and better financial sustainability.
- Also, according to the blockchain firm’s whitepaper, “The renewable nodes are certified for users to choose from, while the firm enforces specific requirements on validators’ hardware.”
- After the announcement on September 19, 2022, GRNGrid native token, GRN Grid ($G), has significantly doubled in price, according to Coingecko. This native token will govern the blockchain by staking to validate and earn rewards. Also, with an inbuilt decentralized exchange called Exnode, investors and users can provide liquidity to sustain the ecosystem.
- GRNGrid has been handling environmental projects such as ReCharge. This project ensures its validators repurpose their hardware and cut back on electronic waste. The new funding from GEM digital will be invested to further connections with top crypto Exchanges. It will also add new global professional partnerships and expand on its blockchain technology and infrastructure. The future of cryptocurrency looks green.
See Related: Crypto Mining Is a Threat To The U.S. Climate Commitments And Goals, White House Appraised
