Zug, Switzerland, September 19th, Chainwire – The GRN Association announced today that it has secured an investment totaling $50 million for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies.
GRNGrid is an environmentally friendly, scalable and stable layer-1 blockchain with novel decentralized finance features. On GRNGrid, users have the choice to only use nodes running exclusively on renewable energy for their transactions.
GRNGrid’s renewable energy partners, who specialize in data center and hosting facilities, have shown keen interest in running Grid’s nodes as validators. With their help, the company can kickstart the availability, speed and sustainability of GRNGrid in Q2 2023. GRNGrid’s novel features such as GRNPay and Exnode will also encourage developers and consumers to connect to GRNGrid.
GRNGrid is also introducing its proof-of-stake v2. GRNGrid is the first blockchain with a consensus method specifically designed to tackle whales and achieve fairer distribution. This consensus method will deliver increased security, enhanced decentralization and better financial sustainability.
GRN is the native token of GRNGrid. “G” will govern the blockchain by staking to validate and earn validation rewards. Consumers are able to provide liquidity to the inbuilt decentralized exchange called Exnode.
The GRN Association is a Switzerland-based nonprofit organization, protects the sustainable vision of GRNGrid, and provides funding to environmental projects. The association also handles the ReCharge program, which enables GRNGrid validators to repurpose their hardware and cut back on electronic waste.
The new funding from GEM will be invested in further connectivity with top crypto exchanges, adding new global professional partnerships and building out its blockchain technology and infrastructure.
Frederik Vyncke said, “The GRN Association is confident that with the support of GEM investment and the community, it can bring GRNGrid to fruition and set the tone for a renewable blockchain with innovative features and create a sustainable development.”
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GEM Digital Limited is a digital asset investment firm. Based in The Bahamas, the firm actively sources, structures and invests in promising utility tokens listed on over 30 centralized and decentralized exchanges globally.
For more information, visit:
GEM Digital Limited
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