Category: Information

The cryptocurrency space is constantly evolving, and with it comes the need for adaptation and innovation. GRN (ticker $G), a groundbreaking project focused on sustainable energy solutions, has recently made an important move by migrating from the Ethereum blockchain (ERC20) to the Polygon network. This transition marks a significant milestone in GRN’s journey, offering enhanced scalability, reduced transaction costs, and a seamless user experience. In this blog post, we’ll delve into the details of GRN’s migration to Polygon, how to add Polygon to your wallet, and what to consider when a coin you hold migrates to another network.

Why the transition from ERC20 to Polygon?

The Ethereum network, known for its decentralized applications and smart contract capabilities, has faced challenges with scalability and high transaction fees. These limitations have prompted many projects, including GRN, to seek alternative solutions. Polygon, formerly known as Matic, has emerged as a prominent Layer 2 scaling solution for Ethereum, providing fast, low-cost transactions without compromising on security. By migrating to Polygon, GRN aims to create a more efficient ecosystem, allowing users to access and transact with $G tokens seamlessly.

Adding Polygon to your Metamask:

MetaMask, one of the most popular cryptocurrency wallets, enables users to interact with decentralized applications (dApps) and manage their digital assets securely. Seeing your Polygon $G’s on Metamask is easy, Here’s how:

Step 1: Install or update MetaMask:
Ensure you have the latest version of MetaMask installed on your browser or mobile device. If you haven’t already, download MetaMask from metamask.io and set up an account.

Step 2: Access the wallet settings:
Open your MetaMask wallet and click on the top button above your account that selects Networks. Right now it probably says Ethereum Main Network.

Step 3: Network configuration:
Within the networks menu, click on Polygon Mainnet.

And that’s it! You should be seeing your $G’s in you Metamask wallet now.

Adding Polygon to Ledger

Ledger is a leading hardware wallet provider that offers secure offline storage for cryptocurrencies, allowing users to store and manage their digital assets offline, providing enhanced security for their holdings. Adding $G is not as straightforward, because ledger doesn’t support a token overview on Polygon’s network. But don’t worry! Your $G’s are safe, you just need a third party tool to see your wallet content. In this guide we’ll be using myetherwallet.com

Step 1: Connect your Ledger device:
Connect your Ledger hardware wallet to your computer using the USB cable and enter your PIN to unlock the device.

Step 2: Install Ledger Live:
Ensure you have Ledger Live installed on your computer. If you don’t have it yet, you can download it from the official Ledger website and follow the installation instructions.

Step 3: Go myetherwallet.com
1. Click on the button: Acces my wallet.
2. Select MEW wallet app
3. Select the Ledger icon and follow the instructions

Step 4: Connect Ledger
Myetherwallet will ask to launch the Ethereum app on you Ledger. If asked by Ledger Live, input your Ledger password on your Ledger. If connection is successful, you’ll be able to acces your wallet in Myetherwallet.

Step 5: Change network in MEW
Now we are still on the Ethereum network and you’ll probably see your old $G’s there. In the top right corner, change the network to Polygon Mainnet. Now your new $G’s should be shown.

Adding Polygon to your Trust Wallet:

Trust Wallet is a popular mobile cryptocurrency wallet that allows users to securely store, manage, and interact with various digital assets on different blockchain networks, including Polygon. Here’s a step-by-step guide to adding Polygon to your Trust wallet:

Step 1: Install or update Trust Wallet:
Make sure you have the latest version of Trust Wallet installed on your mobile device. If you don’t have it yet, you can download it from your device’s app store and set up an account.

Step 2: Access wallet settings:
Open Trust Wallet and use the top right icon to view your active Tokens.

Step 3: Adding GRN ($G) to your wallet.
To add $G’s to your wallet click the “+” button in the top left cornet to add a custom token. Enter the following details:

• Network: Polygon
• Contract Address: 0x1b8Cf8045262663d3E1D7E5CC59cC861fD034BB4
• Name: GRN
• Symbol: G

Step 5: Save and connect:
After entering the network details, tap on “Save” to add the GRN to Trust Wallet. That’s it! You’ve successfully added the Polygon network to your Trust Wallet. You can now manage and transact with $G tokens and other assets on the Polygon network directly from your Trust Wallet.

Stay informed

Remember to stay informed about the migration details and any specific instructions provided by GRN regarding the transition from ERC20 to Polygon. By keeping up with the project’s updates, you can ensure a smooth experience and make the most of GRN’s migration to the Polygon network. Also, stay cautious of scams or phishing attempts during a migration. Verify official communication channels, double-check contract addresses, and exercise caution when interacting with unknown entities or platforms. If you come across any scams regarding GRNGrid, please notify the GRNGrid Team @ ask@grngrid.com.

Conclusion

GRN’s transition from ERC20 to Polygon represents an exciting leap towards scalability, cost-efficiency, and improved user experience. As cryptocurrencies evolve, it’s essential to adapt and explore innovative solutions that benefit the overall ecosystem. By adding Polygon to your existing wallet and staying informed about migrations, you can navigate these transitions with confidence, ensuring a seamless experience and continued participation in the project’s growth. Embrace the future of GRNGrid and the Polygon network as this next step unlocks new possibilities in sustainable energy solutions.

As you guys already know, we have big plans. We are working hard on the development of GRNGrid, a PoS2 blockchain, and GRN Wallet — if you are curious, you can follow our roadmap updates in our blog section.

However, this doesn’t mean you can’t buy GRN. On the contrary, this is a great time to jump on the bandwagon. 

GRN now

Currently, it’s an ERC20 token and as such, it’s available on the Ethereum blockchain. 

Why did we choose ERC20? Well, simply put, it’s practical. This widely used protocol allowed us to launch a presale, and its popularity aids us in spreading the word about GRN. Once the development of Grid blockchain is done, we will merge the coin into our software.

Where to look for GRN?

As mentioned, although the blockchain’s development is still not done, it’s possible to purchase GRN, both with other crypto or with fiat. 

Currently, these 5 exchanges deserve your attention:

1. BitMart
2. LBANK
3. XT.com
4. LATOKEN
5. Knaken

Let’s briefly go through each. 

BitMart

Active since 2018, BitMart represents itself as the most trusted cryptocurrency trading platform that provides real-time trading services.

To navigate through the offer easier, it’s best to download Bitmart’s app. 

As on other exchanges, you can purchase GRN and other cryptos with a credit/debit card and use a previously deposited crypto balance. What’s interesting about this exchange is that you can also buy coins by using PayPal. 

And yes, it’s as simple as it sounds. 

LBANK

Described as the world’s leading crypto trading platform, LBANK provides safe and professional services for crypto users globally.

They have an app, both for Android and iOS, and this is where you can download it. 

To get started, you will need the usual: your email address, a strong password, agreeing with the Terms and Conditions, and confirming you are not a cunning robot from the future. And yes, enable 2FA, it’s for your own good.

As expected, before you can actually purchase GRN, you need to verify your identity. You’ll need to provide your name, surname, date of birth (so they know you are not underage), and your ID number — and, of course, the front and back of that document and a picture of you holding it. 

Once the process is completed, you still need funds to purchase GRN. LBANK has very detailed instructions that include screenshots on how to buy or sell crypto using a credit/debit card and top up your balance with crypto, depending on your choice. 

XT.com

Registration on XT.com is similar to registration on all of the previously mentioned exchanges, but if you need a helping hand, they provide a very good guide. 

As with most others, this exchange also accepts crypto and credit/debit card deposits. What’s interesting is that it allows P2P trading, that is, peer-to-peer trading, which means users can contact and trade with each other without a middleman. This option is for those who trust their fellow man. 

LATOKEN

Headquartered in the United Kingdom, this fast-paced international crypto exchange and IEO platform is a perfect mediator to get your hands on some GRN. 

The registration process is pretty straightforward, and in case you need help depositing, you can check out the instructions here. 

On LATOKEN, there are two types of orders you can place — Limit orders and Market orders — but we’ll talk about those a little later. All in all, both the buy and sell processes are relatively intuitive, apart from the mentioned order types, but they simplify things rather than complicate them. 

Knaken

Based in the Netherlands, this platform boasts competitive prices, efficient customer support, and, in general, is a reliable partner to purchase GRN. Knaken is the only one to support purchase fund with iDeal. However, there is a buy limit of €250,- per purchase on $G.

OK, but how to create and verify an account on their app? How to deposit euro and purchase GRN with euro in case you don’t have any crypto? Well, all of the answers to those questions can be found here. 

Don’t worry, it’s pretty detailed. 

Let’s trade

Now that you know on which exchanges you can find GRN, we might as well share a few tips that some of you don’t know, but that might help you buy and sell, not just GRN, but crypto in general.

Market orders

Essentially, a market order is a command to buy or sell crypto at the most recent price on that exchange. What you need to do is to enter the amount of crypto you want to buy or sell, and the order is carried out almost immediately as your order is matched with a currently open order. In that case, you will be paying the taker’s fee, which is usually slightly higher than the maker’s fee.

Limit orders

As the name suggests, you are setting a limit to the price: you are entering the amount of crypto you want to buy or sell as well as the price that suits you. Naturally, this is great as you can benefit from the price fluctuations but don’t have to be glued to your screen. However, there’s a chance that the price will never reach the limit you specified. Another word of warning: always be careful about the amount you choose, as it’s not that difficult to enter an amount that is, for example, much lower than the market price. By the time you realize what you’ve done, you will have lost money and nerves, take our word for it.

Stop orders

These orders activate once a specified price (the stop price) has been reached. The potential problem with these is that if there’s an abrupt jump in price or a huge backlog of orders, you would have to wait. The order might be executed at a higher price than you intended.

Stop-limit order

This order seems like the wisest choice: instead of setting a single amount that might not be realized momentarily, you are setting a range above and below that you don’t want to sell or buy. Sounds need, right?

Why buy GRN today?

If you think about it a bit longer, you will quickly realize that the greatest things had humble beginnings. It took time for others to hear about them and spread the word. 

By purchasing GRN, you are not just purchasing a digital asset whose value might skyrocket one day and make you rich. 

You are supporting a new decentralized monetary system that is fuelled by sustainable energy. We are led by our circular vision that prioritizes giving back to the community. By getting in on the act early, you are joining our mission too. 

To the EU crypto community — there’s a new dawn coming.

In October this year, the European Council approved the Markets in Crypto-Assets (MiCA) Regulation, which is one of the first attempts at more extensive monitoring of cryptocurrency markets. 

At the moment, MiCA is waiting for the decision of the European Parliament. If it gets adopted by the end of 2022, as most expect it to, crypto entities will have some 18 months to prepare as it will come to force in 2024. It is expected to have a massive impact on the crypto market. 

For those who speak legalese and have patience, you can find the detailed particulars here. As for the rest of us, let’s check out the 5 most-know things to jump on the bandwagon.

Which assets does MiCA cover?

The existing EU framework already regulates crypto assets, but only broadly, as it covers only those that qualify as financial instruments. Naturally, a regulation that would include the out-of-scope crypto assets and their service providers has been a long time coming. You might be asking yourself: which assets exactly? 

MiCA categorizes cryptocurrencies into three categories: 

1. Electronic money tokens (e-money)

E-money is a crypto asset that seeks to maintain a stable value by referencing only one currency. 

2. Asset-referenced tokens 

These tokens are crypto assets designed to maintain a stable value by referring to more than one currency, commodity, or other crypto-assets or a combo of these assets. 

3. Utility tokens

This type of crypto asset allows the user to perform a specific function on the network, e.g., have access to goods or services provided by the issuer of the token.

What’s in the spotlight? 

Now that we know the types of crypto assets the regulation includes, a smart cookie such as yourself should pay attention to those in focus. 

With that in mind, stablecoins seem to be most impacted by MiCA. For the sake of clarity, let’s just briefly re-visit the definition of a stablecoin — they are digital assets whose value is tied to another currency, commodity, or financial instrument.

If you compare the definitions, you’ll quickly conclude that most stablecoins will fall under the category of asset-references tokens. 

The reason stablecoins are put on the center stage is that they didn’t exactly live up to their name (stable+coin). Due to this year’s crash of terraUSD, a popular stablecoin, billions of dollars were lost. Many people lost their savings even though the coin was never supposed to deviate from the dollar.

This event motivated Ernest Urtasun, a member of the European Parliament, to tweet that stablecoins will need to be supported by reserves that are “fully protected in case of insolvency” in a 1:1 ratio. The idea is for these types of incidents not to happen again; hopefully, MiCA will help with that. 

What services fall under its jurisdiction?

By now, crypto assets issuers and crypto assets service providers (CASPs) are probably wondering which services will be impacted — here is a list, so you don’t have to google it or search through MiCA.

• Custody and administration of crypto assets
• Operating a trading platform for crypto assets
• Exchanging crypto assets for fiat currency
• Exchanging crypto assets for other crypto assets
• Executing orders for crypto assets on behalf of third parties
• Placement of crypto assets
• Reception and transmission of orders for crypto assets as well as providing advice on crypto assets

As you can see, this list is quite thorough and definitely worth your attention. 

What doesn’t MiCA cover?

We covered the assets that MiCA includes but are there any that don’t fall under its jurisdiction? Sure there are.

MiCA doesn’t apply to non-fungible tokens (NFTs) and decentralized finance (DeFi)…yet. The officials plan to take on the world’s favorite digital art and collectibles at some point in the future. 

So, for the time being, nothing has changed regarding NFTs.

What if you are a service provider outside of Europe?

To offer crypto assets in Europe, you’ll need to abide by this regulation, period.

Regardless of location, you will need to obtain a passport to provide crypto-related services in Europe. Of course, there are requirements you need to fulfill to obtain this passport. 

Since we are a helpful bunch, here’s the list of requirements you’ll need to tick — you need to:

• Be established in the EU (obtain a license, of course)
• Meet minimum and ongoing capital requirements
• Abide by various organizational requirements (make sure your management team is knowledgeable and experienced, your record keeping is meticulous, etc.) 
• Respect specific client assets and money rules based on their business model
• Ensure that the clients get accurate information and in a transparent manner
• Handle complaints on time and have a procedure set up 
• Establish and actively maintain a policy to prevent conflicts of interest
• Safeguard against operational risk when outsourcing — make sure that the service provider is held responsible for its services

There might be additional requirements depending on the type of service, so it’s super important you research everything in depth by 2024.

Next steps

All that remains is for those who issue crypto assets and provide related services in Europe to prepare for this imminent event. Luckily, there’s plenty of time to study everything in detail. 

As for the rest of us, MiCA will hopefully bring about some eagerly awaited stability and order. In return, it will attract trust and result in the growth of our beloved crypto community. MiCA, we welcome you!

Where you keep your crypto assets matters — we can all agree on that one too. But what crypto owners don’t necessarily agree on is WHERE to keep those assets. As for our team, we say — keep them in your wallet, not the exchange. Read on to learn why.

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Bitcoin was created in 2009.

The first altcoin, Litecoin (LTC), was forked from the Bitcoin blockchain in 2011.

It’s 2022, and crypto transactions are STILL not a universally accepted payment method, nor are they overtaking credit card transactions.

Why is this so? What’s taking so long? Are the governments the only ones making it difficult, or are other elements involved? For all of you asking yourselves the same thing, we will examine four significant factors affecting the mass adoption of cryptocurrencies in this blog.

Consumers’ perspective

Let’s face it: understanding what cryptocurrencies are can be quite an achievement, let alone how mining or staking works. And now, imagine having to explain it to your grandparents.

Different blockchains, wallets, safety, privacy, keys, and transactions are just some of the terms the general public will have to understand if we want the mass adoption of crypto. And if you can’t find a way to simplify things so that even those with less technical knowledge would understand, such as your grandparents, they’ll never be accepted and used on a mass scale.

It’s also essential to teach consumers not to fall victim to the FUD (fear, uncertainty, and doubt) around crypto. The word “money” has always been known to attract scammers, and new technology can be scary, but that doesn’t mean that danger lurks behind every corner. But sometimes, the community and the companies involved in crypto are the ones to blame. They are simply not as transparent as they should be. This is the reason why GRNGrid aims to spread crypto knowledge and is as transparent as possible. In addition, the GRN Association acts as a safeguard for GRNGrid to uphold these standards. Simply put, checking your sources and taking things in stride are the best pieces of advice for a crypto newbie.

Besides knowledge, another tricky thing from consumers’ perspective is usability. If they can’t use it in everyday situations, such as paying bills in stores or gas stations, you can’t expect to get many individuals on board. The same goes for companies.

Governments’ point of view

The most common question asked by someone entering the world of cryptocurrencies for the first time is: is it legal?

But the response to this question lies in the hands of your government. This means that the real question you should be asking yourself is — does your government see cryptocurrencies as legal?

There are many reasons state authorities might be reluctant to embrace crypto. Generally speaking, every time something new is introduced, there’s a lot of hassle from the legal side, lots of debates, laws writing and re-writing, and of course, waiting. All of that puts a strain on the budget and one of the most valuable resources in today’s world — time.

Also, the fear of fiat money (government-issued currency) losing its value doesn’t seem unreasonable in their eyes, as fiat’s power rests only on the faith and trust of the government that issued it. They fear that if people start predominantly using cryptocurrency, fiat will lose much of its power and, with it, the government.

Decentralization puts their influence and power to the test — and that’s not something a country’s government will welcome with open arms.

What’s interesting, though, is that some countries have secondary motives to undermine Bitcoin and other altcoins: just take China, for example. The PBoC (People’s Bank of China) is planning to launch its own digital currency, making it the first major bank to do so. The main reason behind this: more control. The state will keep a closer eye on transactions by offering people a digital alternative to the Chinese Yuan.

Commercial adoption

A growing number of businesses are seeing the benefits of introducing crypto as their payment method: it helps them access new demographic groups and simplifies money transfers, all the while ensuring their security. So, why aren’t more of them using crypto?

Well, we briefly touched upon the complexity of putting crypto in state laws — we all know that most countries’ laws are still written by a generation that sticks to its traditional ways. These individuals aren’t keen on losing their place in the hierarchy and don’t welcome changes with open arms.

Commons sense tells us that the authorities will have to give in and accept the facts, and then we’ll bear witness to their struggles to balance the needs of the state budget and their citizens’ well-being.

Once the legal perspective is implemented, many processes need to be implemented for companies to use cryptocurrencies in their daily operations efficiently. Bureaucratic apparatus is slow in almost every country in the world, so, at that point, it’ll be a game of patience and will of persistent entrepreneurs to fight through the tiresome and outdated processes and get what they want.

Energy consumption

We’ve all heard that Bitcoin mining requires A LOT of energy: to be more precise, it annually consumes more electricity than Argentina. Due to its great popularity, many (wrongly) use Bitcoin as a synonym for all crypto, so naturally, all the “negative” sides related to Bitcoin stick to other cryptocurrencies. But the general public, those less familiar with this world, don’t know that the crazy energy consumption is associated with PoW (Proof of Work) cryptocurrencies.

Luckily, PoS (Proof of Stake) crypto’s consumption is significantly lower, which is one of the main improvements if we compare PoW and PoS mechanisms. Although energy consumption is not a problem for PoS, there are elements GRNGrid project aims to polish by introducing PoS2 (Proof of Stake v2). The biggest challenges with PoS are its staking model, whose simplicity makes it easier for the big players to manipulate, as well as scalability. PoS2 intends to give smaller validators a fair chance all the while staying secure and transparent. The three main points to remember about GRNGrid project are energy efficiency, high performance and low fees.

Switching to renewable sources of energy is inevitable, while carbon neutrality is another viable solution, at least for now. As “green” vocabulary is sometimes misused by companies, for those not sure what carbon neutrality is, it doesn’t mean that there is no CO2 emission but that that emission is balanced by removing an equal amount, e.g., by planting a particular number of trees.

Complex yet solvable

As with every complex subject, there’s no singular solution or response.

We have to simultaneously work across different fields to kick-start mass adoption.

A sustainable future is the only future for crypto. Raising awareness has already motivated the shift toward renewable energy sources, which might be the first step to busting myths around the widespread use of cryptocurrency.

Once the general public is well-informed and its interest encourages activity levels around different cryptocurrencies, the governments will finally cave in and back it up from the legal standpoint, making it easier for consumers to use crypto.

So, what’s stopping mass adoption? We are, by not being involved enough.

Join the community, spread the word, and be a reliable source to newcomers. All other elements will gradually fall into place. All we need is patience.

GRN and its GRN Grid are the future of crypto projects, delivering a sustainable blockchain platform based on renewable energy resources and supporting clean energy campuses, minimizing e-waste and blockchain energy consumption throughout the world to promote a future ecosystem focused on decentralization, sustainability, and environmental initiatives. According to research published in Nature, bitcoin mining uses as much energy as mining for gold. One of the few drawbacks of blockchain technology is its significant environmental ramifications, despite its tremendous promise for societal transformation. Why should the world pay the price for increased carbon emissions, squandered energy, and created e-waste? The revolutionary GRN Grid combats the problem by introducing the Grid and GRN (pronounced Green) tokens, which use a unique Proof of Stake V2 algorithm for energy-efficient, high-performance, and low-fee transactions. GRN provides a decentralized, secure, and, most importantly, cleaner world of sustainable development, with its operations relying entirely on renewable energy sources.

What is GRN?

GRN is a non-profit organization founded by GRN Energy B.V., based in the Netherlands, that manages GRN Grid’s operations. Overall, the GRN organization strives to protect the crypto community’s objective of sustainability as well as the long-term viability of blockchain technology. GRN seeks to maintain the blockchain’s decentralized characteristics while enhancing and cleaning up projects for a greener planet

What is Grid?

Grid is a revolutionary piece of blockchain technology developed by GRN. It focuses on developing a framework for innovative corporate offerings and a robust Web 3.0 application architecture. Grid’s distinctive and secure Proof of Stake V2 consensus provides sustainable blockchain development with excellent consumer functionality via message encryption using EnScrypt, ExNode for integrated token swapping with Grid stable currencies, and GRNPay escrow and transactions. Grid is fuelled by the $G token and can power a variety of green cloud computing solutions throughout the world.

How GRN and Grid are Paving the Way to a Greener Planet

The GRN smartchain minimizes global carbon emissions and adds sustainability to the blockchain industry, improving environmental conservation. With the development of green energy campuses, GRN Grid leads the path to a greener world and a more energy-efficient blockchain ecosystem. Nearly 45% of consumers are interested in sustainable and ecologically friendly goods, and GRN Grid lays the groundwork for a greener future, focusing on consumers and a decentralized ecosystem. GRN is the remedy to blockchain’s environmental impact since it is:

Sustainable:

Grid is a sustainable blockchain based on energy-efficient validations and renewable resources. GRN also allows users to participate in its green mission by fostering the development of green energy campuses worldwide through charitable contributions voted together by the smartchain.

Secure:

GRN Grid is always on the lookout for threat actors and uses two-step validation methods in conjunction with its PoS2 technology to constantly detect and charge them. Furthermore, the Grid also penalizes validators that swap their equipment frequently to limit energy, e-wastage, and destructive environmental impacts.

Speed:

Grid’s exceptional LTV (Lightning Trail Verification) is a cornerstone in assuring fast performance that allows for near-instant transactions simultaneous with a stable network that can expand in any situation. Grid’s brilliant performance and quickness depend on GRN Nodes and pooled validators worldwide, utilizing renewable energy mining activities.

PoS2 (Proof of Stake V2):

The Proof of Stake V2 consensus mechanism used by GRN Grid effectively maximizes the blockchain’s energy utilization. This drastic decrease in energy consumption is accompanied by randomly selected security validators and a concave function for awarding voting rights to ensure a secure and sustainable blockchain.

Why GRN is the Future of Blockchain Technology

The Grid smartchain, developed by GRN, is a blockchain technology that can potentially revolutionize the energy impact of current blockchain systems. Grid will significantly influence the near future by altering perceptions of decentralized operations and moving the economy to a genuinely unified future. As it works, GRN can revolutionize blockchain technology while also saving the environment by:

Reducing the carbon footprint of blockchain:

Grid is a solution to a significant flaw in blockchain technology. The GRN Grid runs solely on renewable energy, which reduces its carbon footprint. GRN also has a ReCharge effort for recycling hardware and has strict hardware specifications to limit the need for replacements in the near future.

Growing support for green blockchain projects:

Through charity donations on the Grid smartchain, GRN promotes cleaner energy campuses worldwide. GRN’s green certificate distribution to validators using sustainable energy sources encourages people to join a cleaner-earth movement. In the future, the Grid will rely on initiated partners utilizing only renewable energy sources to power its GRN Grid Nodes.

Web 3.0 Support:

Web 3.0, the next generation of the web, is the remedy to today’s tech concerns, with Web 3.0 applications and technology processing information via an interoperable, seamless, and integrated system providing a more viable approach towards social interactions and several other applications. GRN is already equipped and ready, with Web 3.0 application development and deployment functionality on the Grid.

Complete decentralization and even pay-outs with PoS2:

Using a novel diminishing concave function of the validator’s stake for randomized pools, GRN’s Proof of Stake V2 creates irregular validators for security pools. The POS2 assures that control of the GRN Grid pool does not slip into the hands of a validator monopoly and that validators with a lower stake have an equal chance of earning large pay-outs by getting picked.

Why GRN Makes for a Value Investment

GRN and its Grid smartchain are potential gamechanger for the blockchains and shipping, banking, healthcare, and more industries worldwide. With its attempts to decrease carbon footprint and e-waste, GRN eliminates intermediaries for a genuinely decentralized and sustainable blockchain that cares about the world. GRN is a value investment attracting Web 3.0 developers, investors, and individuals who want to make a difference by enabling a cleaner earth initiative and developing green energy campuses, clean projects, and more. GRN has already won over many with its innovative approach to blockchains and will continue to do so, making GRN a worthwhile investment for anyone wanting to become a part of its Grid smartchain.

Final Words

GRN initiative helps in overcoming the flaws in existing blockchain systems, paving the way for a blockchain ecosystem that is cleaner and more sustainable. GRN Grid offers a fast, sustainable, and secure smartchain that can accommodate Web 3.0 applications. With its aim to minimize energy consumption and e-waste, it certainly offers all the right things required to be the paradigm of future blockchains.

1. Will microgrids transform the market? (2017a, November 14). Retrieved February 28, 2022, from Deloitte Switzerland website: https://www2.deloitte.com/ch/en/pages/energy-and-resources/articles/will-microgrids-transform-the-marke.html
2. How blockchain and cryptocurrency can create a greener future. (n.d.). Retrieved February 28, 2022, from World Economic Forum website: https://www.weforum.org/agenda/2021/06/how-blockchain-and-cryptocurrencies-can-help-build-a-greener-future/
3. Krause, M. J., & Tolaymat, T. (2018). Quantification of energy and carbon costs for mining cryptocurrencies. Nature Sustainability, 1(11), 711–718. doi:10.1038/s41893-018-0152-7
4. Bitcoin mining uses as much energy as mining for gold, according to new research. (n.d.). Retrieved February 28, 2022, from World Economic Forum website: https://www.weforum.org/agenda/2018/11/study-reveals-that-bitcoin-mining-uses-as-much-energy-as-mining-for-gold
5. (2022a, January 14). Download the GRN Whitepaper – Building a sustainable blockchain. Retrieved March 1, 2022, from Grngrid.com website: https://grngrid.wpengine.com/greenpaper/ 
6. (2022b, February 9). GRN. Retrieved March 1, 2022, from Grngrid.com website: https://grngrid.wpengine.com/

A new revolution is on the horizon within the crypto space: the introduction of sustainable initiatives, Green coins crypto. Many different aspects constitute this change, as it involves not only the consensus mechanisms but also the use cases and underlying hardware that is being leveraged. To understand what makes an initiative a green coin initiative, we will break it down into several components and provide you with examples of such coins.

Green coins crypto, from hardware to use cases

Sustainable initiatives can be a way to persuade investors and users to start with a specific cryptocurrency. We should be careful with falling for such initiatives, as it is hard to determine if it is truly a sustainable initiative. We will break it down into logical components starting from hardware and moving to software (e.g., consensus), and the use cases that can run on that software.

Hardware

The hardware being used is a logical start. With many coins claiming they are sustainable, there is only very little that does a check on the hardware being used. Typical questions are: is the hardware efficient for the task at hand? What is the lifespan of this hardware? You can even go one step further: request the network participants to prove that they are using sustainable energy. A good example of such an initiative is GRN coin, which does both a validation on hardware and electricity sources.

Consensus

Once the hardware is considered sustainable, you can move to the software. Traditional crypto networks use Proof of Work, which refers to the use of computations to solve a cryptographic challenge to validate transactions. The result? Massive amounts of energy are needed, let alone the hardware involved to do so. With innovations such as Proof of Stake, the energy consumption is significantly less. In those scenarios, the participants are randomly selected through advanced algorithms based on their stake in the network. This ensures a secure network without the need for lots of energy.

Use cases

Once the hardware and software are in place, it is time to look at the use cases of the network. Simply conducting transactions such as Bitcoin is not enough to be considered a green coin crypto. There are specific initiatives that focus on the electricity grid. For example, if you have solar panels you can sell your surplus energy to other users. Less sun today? You can purchase energy from other users when you need more. This is a good example of sustainable trade without the need for an intermediary.

There are many reasons to believe that crypto is not eco-friendly. Many examples have been brought to the table, including the electricity consumption of the Bitcoin network alone. This network is already consuming more than the entire country of Sweden, which has over ten million people. This has not been the only problem in crypto, as it has been faced with many malicious actors that pollute the networks and NFT markets. Novel solutions are required to fix the problems, and this is where eco-friendly crypto comes in.

Starting with the consensus mechanisms

One of the biggest hurdles is the way transactions are validated. In the traditional Proof of Work setting, this requires a lot of computation. Therefore, eco-friendly crypto has been looking for alternatives by working on novel consensus mechanisms. The well-known Proof of Stake is a good example. Instead of letting loads of computers work on computations, they randomly select several network participants based on their stake to validate the transactions. The idea is that the higher the stake in the network, the more interest you must positively maintain in the network.

Use cases are another important element of eco-friendly crypto

Apart from consensus, many projects focus on bringing sustainable innovations to the market through blockchain. In this section, we will highlight several examples of these use cases.

Electricity grid

This innovation becomes especially important with the introduction of solar panels and other ways for consumers to generate electricity. Although most of the energy that is generated is consumed, consumers often have some spare energy left. Through blockchain-powered networks, they can buy and sell this electricity to other users. This allows them to trade directly with each other, often automatically, across vast distances.

Traceability of products

Coffee beans, diamonds, a piece of a garment or an eco-friendly crypto; tracking the origin of products is becoming more relevant than ever. Consumers want to know where the product comes from. Has it been produced sustainably? Has child labor been involved? These questions can be answered by supply chain blockchain technology that makes it traceable for consumers to see where raw materials, production, and distribution take place.

Efficient international trade

When it comes to international trade, there are many parties involved in the traditional supply chain. Often, raw materials are brought from one continent to another, and then back. This has huge implications for the planet. Eco-friendly crypto currencies aim to solve this by making intermediaries obsolete and letting manufacturers and producers talk directly to each other. This smoothens the international trade processes.

Why you wanna choose for Green cryptocurrency? Recently, cryptocurrencies have been in a bad daylight. The main concerns are the energy consumption, as well as the hype that crypto has brought. Let’s start with the latter. Through the hype, many people have joined the crypto movement. At first, you could consider this a good thing. However, due to the nature of blockchain technology (i.e., decentralized, secure, anonymous), it becomes easy for fraudsters to abuse the system. This is exactly what has happened in lots of cases ranging from pump-and-dump schemes to Ponzi schemes that did not even involve true blockchain technology.

The main concern remains energy

For people investing in (Green) cryptocurrency, one of the key goals was separating fact from fiction and selecting the right projects. These, in turn, must deal with their challenges. Since the inception of blockchain in 2008 by the pseudonym Satoshi Nakamoto, the validation of networks has been based on Proof of Work consensus. This is often referred to as the process of mining.

What does mining do?

Mining requires the network participants to solve a very difficult cryptographic problem. The answer to the problem is a long string of characters, which are randomly generated by blockchain technology. The goal is to find this answer before the others do. In return, you will receive crypto (e.g., Bitcoin) for the work you have put in.

The person who finds the solution to the cryptographic problem is validating the new transactions, which will be added as a block to the entire chain of transactions. Why all the hassle to validate transactions? With all the computing power dedicated to validating transactions, it becomes hard for a malicious actor to manipulate the network. The malicious actor should have lots of computer power, and even then, it can prove very hard. This is also the key reason why the network effect in crypto is important; once a critical mass has been reached, the network can also be considered more secure.

You think; this can be easier

And you are right. Although Proof of Work has stood the test of time, it does come with huge costs. Especially in terms of electricity, consumption should not be underestimated. This, among other reasons, has led innovators in the field to look for different approaches to the problem. One of these groups can be considered green cryptocurrency, as they aim to solve the problem of overconsumption with the introduction of new consensus mechanisms.

Proof of Stake consensus

A good example of such an innovation is the Proof of Stake. This consensus mechanism does not focus on a difficult cryptographic puzzle but instead is based on the network participants. The theory behind it: when a participant has a stake in the network, they will act for the benefit of the network. Thus, the participants are randomly selected (e.g., six at a time) based on their stake, and validate the transactions of a block together.

Everything you have to know about the GRN coin. Since the inception of crypto, many different technologies have been brought to the table. Ranging from different use cases to different algorithms and consensus mechanisms. In many cases, however, the push has been for self-enrichment. Many crypto projects proved to be fraudulent, and whitepapers could not bring to the table what they promised. Luckily, we now see a rise of novel innovations flowing to the space that wants to constitute real change. A good example of this is the GRN coin, a Proof of Stake-based coin that aims to solve the difficult challenge of electricity consumption.

Solving the shortage of chips

By creating a network based on Proof of Stake, GRN coin is also contributing to mitigating the current shortage of chips. Proof of Work-based networks requires GPU power, which is realized through advanced chips. The production has spiked, but also resulted in other chips not being produced. This has led to many supply chain issues around the world ranging from cars to consumer electronics. Sustainable crypto solutions such as GRN coin believe that traditional crypto is a big part of this problem.

Participating in the network

The network of GRN coin is registering the hardware being used, to ensure that only sustainable hardware is part of the network. Certain requirements are set and need to be met by prospective participants. They also need to prove that the energy they are using is green. For example, they can share their certificates or other proof which can be validated by the network participants.

A rich ecosystem of services

A green network is just the start of what GRN coin is promising. Within their network, there is a rich ecosystem that can be leveraged. Not only can people transact with ease through dedicated wallets, but there are also other options (GRNPay, EnScrypt and ExNode). The aim is to create a rich ecosystem that can be compared to the likes of Ethereum, but make sure that the energy and hardware used are green and efficient. This will solve many of the challenges that underpin traditional blockchain networks. This is needed, as network participants tend to stick with the status quo as it defends their interests. A good example is Ethereum, where miners are voting against moves to Proof of Stake since they profit from mining.

The strong growth of sustainable crypto is something not to be missed. Not only because it is environmentally friendly, but because of the impressive nature of its success. Since the publication of the report by De Nederlandse Bank, cryptocurrency has been seen as wasting energy. Although the claim that one single Bitcoin transaction equals 402 kilos of CO2 emissions has attracted a lot of criticism, more and more developers are bringing sustainable crypto to the market. Greener investing is becoming the norm, and it can be very rewarding. Because some sustainable cryptocurrencies are rapidly rising in price and becoming generally more popular.

What are sustainable cryptocurrencies?

With the growing focus on the environment, cryptocurrencies are in danger of being left behind, and that simply can’t be allowed to happen. There’s no doubt that Bitcoin guzzles energy. Mr. de Vries, an expert in sustainable crypto, states that annually the coin consumes one-and-a-half times as much as the whole of the Netherlands. How can this be? Computers mining the coin using the ‘Proof of Work’ method and this involves countless calculations. The newer ‘Proof of Stake’ method uses ‘validators’ rather than miners, which means that fewer calculations are needed.

How can sustainable cryptocurrencies become greener?

New technical solutions are not the only way to make sustainable cryptocurrencies greener. Many new cryptocurrencies also offset their emissions by contributing to sustainable projects. These include subsidizing alternative energy sources, such as wind and solar energy, or planting trees. Cardano recently announced that it is going to plant a million trees. So it’s worth looking closely at sustainable crypto. Not only because of the environment, but also because it will help you get a better idea of these sustainable cryptos and the teams behind them.

The return

The environment shouldn’t be your only concern. It goes without saying that you simply want your investment to be sustainable. Fortunately, the future looks bright on that score too. The popularity and prices of sustainable crypto are rising rapidly. The teams behind some sustainable cryptocurrencies are even pioneers of the crypto world. Ethereum and Cardano are getting greener and will even be among the fastest climbers in 2022. Reason enough to consider sustainable crypto for your portfolio.

The most popular sustainable cryptocurrencies

Ethereum is the largest currency after Bitcoin, and will switch to the ‘Proof of Stake’ system in 2022. A big event: this could make it one of the largest sustainable cryptocurrencies in one fell swoop. However, this is not the only thing you need to know. Fantom, for example, claims that its transactions use 300 million times less energy than Bitcoin. Cardano’s coin offsets its energy consumption. And Signum uses only 0.002 percent of Bitcoin’s energy. ECO Coins are earned in exchange for sustainable actions. And GRN is the token on Grid, a blockchain that could not be more sustainable. Low Fees – High Speeds! Protected with Proof of Stake v2. GRN is building the future without causing the earth any more damage.