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Blockchain

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy

September 20, 2022 - Around 2 mins mins to read

GRNGrid, a Layer 1 blockchain with a focus on renewable energy, declared on Monday that Bahamas-based venture capital firm GEM Digital has invested $50 million in it.

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy
GEM Digital Invests $50 Million In Blockchain That Focuses On Green Energy

According to a Monday press statement from the Swiss initiative, the funds will be used to create partnerships, link with exchanges, and advance GRNGrid’s blockchain technology.

GRNGrid’s blockchain technology

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy
GEM Digital Invests $50 Million In Blockchain That Focuses On Green Energy

Users of the Layer 1 blockchain can choose only nodes powered by renewable energy to validate transactions, making it scalable and ecologically beneficial. The company’s whitepaper states that verified renewable nodes are available for customers to choose from, and that the company also imposes particular hardware criteria on validators.

“The GRNGrid will also register the devices of validators on grid through a smart contract and penalize any validator for repeatedly changing their hardware,” the whitepaper reads. 

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Teccrypto

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Annie

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Blockchain technology

GEM Digital

GRNGrid

Layer 1 blockchain

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. Before joining Coincu as the Sustainability & ESG Editor, I honed my skills in reporting on environmental issues and their financial implications. An academic background rooted in a Master's degree in Environmental Studies from Yale University and a BA in Journalism from London University gives me a strong foundation for understanding both the environmental and financial landscapes. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
Blockchain

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy

GRNGrid, a Layer 1 blockchain with a focus on renewable energy, declared on Monday that Bahamas-based venture capital firm GEM Digital has invested $50 million in it.

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy
GEM Digital Invests $50 Million In Blockchain That Focuses On Green Energy

According to a Monday press statement from the Swiss initiative, the funds will be used to create partnerships, link with exchanges, and advance GRNGrid’s blockchain technology.

GRNGrid’s blockchain technology

GEM Digital Invests $50 Million In GRNGrid That Focuses On Green Energy
GEM Digital Invests $50 Million In Blockchain That Focuses On Green Energy

Users of the Layer 1 blockchain can choose only nodes powered by renewable energy to validate transactions, making it scalable and ecologically beneficial. The company’s whitepaper states that verified renewable nodes are available for customers to choose from, and that the company also imposes particular hardware criteria on validators.

“The GRNGrid will also register the devices of validators on grid through a smart contract and penalize any validator for repeatedly changing their hardware,” the whitepaper reads. 

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Teccrypto

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Annie

CoinCu News

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