The GRN Association, a non-profit organization based in Switzerland, announced today that it has secured a total investment of $50 million for the GRNGrid project from GEM Digital Limited, a venture capital focused on digital currencies.
On GRNG Grid, an environmentally friendly, scalable and stable layer 1 blockchain, with new DeFi features, users have the choice to use only nodes running exclusively on renewable energy for their transactions.
GRNGrid’s renewable energy partners, who specialize in data centers and hosting facilities, have expressed strong interest in operating Grid nodes as validators. With their help, the company can relaunch the availability, speed and durability of GRNGrid in the second quarter of 2023. New GRNGrid features such as GRNPay and Exnode will also encourage developers and consumers to connect on GRNGrid.
Introducing Proof-of-Stake V2 (PoS2), GRNGrid is the first blockchain with a consensus method specifically designed to fight whales and achieve fairer distribution. This consensual method will provide increased security, enhanced decentralization and better financial viability.
GRN ($G), the native token of GRNGRid will govern the blockchain by staking to validate and earn validation rewards. Consumers are able to provide liquidity to the integrated DEX called Exnode.
The GRN association protects the sustainable vision of GRNGrid, as well as the financing of environmental projects. The association also runs the ReCharge program, which allows GRNGrid validators to reuse their hardware and reduce e-waste.
The new funding for Limited Digital Gem, a digital asset investment firm, will invest in increased connectivity with major crypto exchanges, adding new global professional partnerships and expanding its blockchain technology and infrastructure.
Frederik Vyncke: “The GRN Association is convinced that with the support of GEM and community investments, it can grow GRN Grid and set the tone for a renewable blockchain with innovative functionalities and create sustainable development”