New funding will enable the platform to acquire international alliances, increase connectivity with leading cryptocurrency exchanges, and develop its blockchain technology and infrastructure.
GRN Association, a Swiss company, has received $50 million for GRNGrid, a secure Layer 1 blockchain platform featuring DeFi features. Venture capital firm GEM Digital, which specializes in digital currencies, provided the extra funding.
The additional funds will enable the platform to add new international alliances, increase connectivity with leading cryptocurrency exchanges, and develop its infrastructure and blockchain technology.
The company claims that the GRNGrid initiative will give customers the option to only conduct their transactions through nodes powered solely by renewable energy. A consensus approach for the blockchain will result in greater security, more decentralization, and improved financial sustainability. The project is scheduled to launch in Q2 2023.
Additionally, the association oversees the ReCharge program, which enables GRNGrid validators to reuse their gear and reduce electronic waste.
“The GRN Association is confident that with the support of GEM investment and the community, it can bring GRN Grid to fruition and be setting the tone for a renewable blockchain with innovative features and create a sustainable development.” said Frederik Vyncke, director at GRNBi.
About GRNGrid
GRNGrid is a Layer 1 blockchain that is robust, scalable, and has innovative DeFi capabilities. Users on GRNGrid have the option of conducting their transactions only through nodes powered solely by renewable energy.
The data center and hosting industry's leading suppliers of renewable energy have expressed a strong interest in deploying Grid's nodes as validators. They will enable the business to launch GRNGrid's availability, speed, and sustainability in Q2 2023. The innovative features of GRNGrid, such as GRNPay and Exnode, will entice both users and developers to join there.
Additionally, GRNGrid is offering Proof-of-Stake V2 (PoS2). The first blockchain with a consensus technique created particularly to combat whales and promote more equitable distribution is GRNGrid. This consensus approach will result in improved decentralization, increased security, and financial sustainability.
The native token of GRNGrid is GRN ($G). By staking to validate and get incentives for validation, "G" will control the blockchain. Liquidity can be supplied by consumers to the built-in DEX named Exnode.
The GRNGrid sustainable concept is protected by the GRN Association, a non-profit organization with headquarters in Switzerland that also funds environmental projects. Additionally, the association oversees the ReCharge program, which enables GRNGrid validators to reuse their gear and reduce electronic waste.
The additional financing from GEM will be used to expand its infrastructure and blockchain technology, expand its professional connections globally, and link to more prominent cryptocurrency exchanges.
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