The GRN Association, a Switzerland-based NPO (non-profit organization) focused on digital currencies, announced today that it has received a total investment of $50M in venture capital from GEM Digital Limited for the GRNGrid project.
With GRNGrid, an environmentally friendly, scalable and stable Layer 1 blockchain, with novel DeFi features, users have the choice to use only renewable energy-powered nodes for their transactions.
GRNGrid’s renewable energy partners, which specialize in data center and hosting facilities, have shown strong interest in running grid nodes as verifiers. With their help, the company can launch GRNGrid’s availability, speed and sustainability by Q2 2023.
Introducing Proof-of-Stake V2 (PoS2), GRNGrid is the first blockchain with a consensus mechanism specifically designed to tackle whaling and achieve fair distribution. This consensus mechanism leads to improved security, improved decentralization and better financial sustainability.
GRN ($G), GRNGrid’s native token, manages the blockchain to validate and earn validation rewards. Consumers can supply liquidity to a DEX called Exnode.
The GRN Association defends the sustainable vision of GRNGrid, and also provides funding for environmental projects. The association also hosts a recharge program that allows GRNGrid verifiers to recycle their hardware and reduce electronic waste.
The new funding from GEM Digital Limited, a digital asset investment firm, will be invested in further linking with top crypto exchanges, adding new global professional partnerships and building blockchain technology and infrastructure.
Frederik Vinke: “The GRN Association is confident that with GMM’s investment and community support, the GRN Grid will bring fruition and create a renewable blockchain with new features and sustainable development.”