GRN Grid is here to solve the challenges

What is GRN Grid?

It is based on the Proof of Stake V2 consensus mechanism [page 18], and it marks a big step forward in the development of blockchain technology in general. The grid will devote the majority of its attention to the following topics:
• Developing a framework for the development of new business solutions
• Consumers will appreciate the convenience.
• The feasibility of blockchain technology in the long run.
• Development and deployment of Web 3.0 applications (Web 3.0 apps).

The grid will provide distinct advantages over other (de)centralized technologies, allowing it to compete more effectively. As stated in the roadmap, the GRN Grid, as well as its associated functionality and the wallet application, are expected to be provided in the near future. A more in-depth discussion of the technical aspects of the GRN Grid will take place later.

The main challenges it is solving:

According to analysts, the quantity of e-waste generated by Bitcoin alone will equal 30.7 metric kilotons per year by May 2021, based on current projections. [Alex de Vries, 20214]. Computing power is on par with the productivity of a small computer systems nation such as the Netherlands, which is comparable to the United States' performance. Despite the fact that many people believe these estimates are overstated, there is a clear need for equipment in the blockchain mining market. This is especially clear in light of the current shortage of silicon.

In recent months, there has been a great deal of debate over the long-term sustainability of Bitcoin, especially in light of the digital currency's escalating energy consumption. China's ban on bitcoin mining first came into effect in order to minimize pollution in the country's air and water supplies. The entire amount of energy used by the nation. China's energy production is dominated by coal, which accounts for 60% of the country's total energy production and is responsible for vast quantities of pollution.

About the possibilities:

Here's one of the possibilities: The Chinese government has announced the first in a series of initiatives aimed at achieving their country's commitment to reduce greenhouse gas emissions by 2020. Blockchain miners must replace their equipment on a regular basis in order to continue mining bitcoins, which has a substantial impact on the growth of global e-waste.

Because of poor equipment disposal, electronic trash may include a number of hazardous chemicals and heavy metals that end up in our environment. In light of the vast amount of e-waste being generated, as well as the shortage of silicon metals, it is now more critical than ever to develop a long-term blockchain solution that is both safe and scalable. Within a generation, the United States will have achieved carbon neutrality, and other nations will soon follow (SCMP, 20212). Certain companies have already ruled out the notion as a possibility, while others have expressed their opposition to it. The usage of bitcoin is not encouraged due to the serious environmental consequences of its use (BBC).

Know about circularity and recycling:

Because of the rigorous hardware requirements for operating nodes, we will be able to complete a large number of goals at the same time. It is required to ensure the long-term survival of a device inside the Grids system in order to do this. We are able to extend the life of the system as a consequence of these hardware limits, which results in cheaper replacement costs. It is hoped that this penalty will aid in the fight against the hardware "arms race" within the blockchain sector, which is responsible for high levels of e-waste, a scarcity of silicon metals, and environmental damage due to the mining of these metals.

Wrapping it up:

As part of the process, the GRN Grid will record the devices of validators who participate in it via the use of smart contracts, and any validator who changes their hardware on a frequent basis will be penalized. According to the technical paper, every facet of the punishment system's implementation would be covered in great depth. In partnership with other groups, the GRN group will run a hardware recycling campaign as part of its ReCharge initiative, according to the group. Due to the fact that Metabolic will serve as a watchdog for this program, we will make certain that it has the fewest negative environmental effects possible. Validators for the GRN Grid will be useful in the development of this application.

Project Links:

WebPage Address: https://grngrid.com
Twitter: https://twitter.com/grngrid
Discord URL: https://discord.gg/bDPK9Vf24R
Telegram Group URL: https://t.me/grncommunity

Authored By:

BCT Member Profile Name: cryptosmith03
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