Q&A: This project says it runs solely on sustainable energy — how?
The energy use and sustainability of blockchain technology is a burning topic. But some projects are seeking to ensure their activities are eco-friendly — all while giving environmentally conscious consumers an option to go green.
One of them is GRNGrid. Here, founder and CMO John Errol de Vroede tells us more about the platform's sustainability credentials, how this is achieved, and why its approach to Proof-of-Stake avoids common pitfalls surrounding centralization.
1. Hello! Can you simply explain what your project does?
GRNGrid is an environmentally friendly, scalable and stable Layer 1 blockchain, with novel DeFi features.
These features give everyone permissionless access to cheap, user-friendly DeFi protocols such as yield farming, staking, DEX and a payment and escrow service.
We're also introducing Proof-of-Stake V2, otherwise known as PoS2 for short. This new consensus method has been shown to deliver increased security, enhanced decentralization and better financial sustainability.
The GRN token is the native token of GRNGrid. GRN will govern the blockchain by staking to validate, and will be burned as transaction fees. You can also stake it into our own inbuilt DEX called Exnode.
2. Tell us a bit more about what makes your blockchain project sustainable.
GRNGrid is backed by validators running on sustainable energy and operating on durable hardware. The network itself operates very power efficient.
Users can opt to have their transactions completed on nodes running exclusively, and certifiably, on green energy.
The GRN Association is based in Zug, Switzerland — and protects our sustainable vision, as well as funding environmental projects. This organization also handles the ReCharge program, which enables validators to
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