Dutch sustainable blockchain startup GRNGrid secures $50m to drive connectivity with crypto exchanges

Dutch sustainable blockchain startup GRNGrid secures $50m to drive connectivity with crypto exchanges

Published: 20-09-2022 15:53:00 | By: Pie Kamau | hits: 330 | Tags:

The GRN Association announced it has secured an investment totaling $50 million for the GRNGrid project from GEM Digital, a venture capital focused on digital currencies. The new capital will drive further connectivity with top crypto exchanges and enable the platform to add global partnerships and build out its blockchain technology and infrastructure

GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with novel DeFi 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 datacenter 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 like GRNPay and Exnode will also encourage developers and consumers to connect on GRNGrid. 

GRNGrid is also introducing Proof-of-Stake V2 (PoS2). GRNGrid is the first blockchain with a consensus method specifically designed to tackle whales and achieve fairer distribution. This consensus method will deliver an increased security, enhanced decentralization, and better financial sustainability. GRN ($G) 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 DEX called Exnode. 

The GRN Association is a Swiss based NPO (non-profit organization), and protects the sustainable vision of GRNGrid, as well as providing 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. 

Frederik Vyncke, : ''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.''