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.