GRN Grid is changing the blockchain process
How is the blockchain process working?
An open and decentralized record of all transactions between two parties without the requirement for third-party verification is what blockchain is. According to experts, this results in a highly efficient process that significantly reduces transaction costs. Keeping track of network transactions and assets is done through a decentralized, unchangeable record called a blockchain.
About the assets:
It doesn't matter whether the assets are physical or intangible; it's all the same. Blockchain technology is well-known for its decentralized and "trustless" nature (2008). However, using blockchain in place of current centralized systems presents additional issues. "Trustless" is a term used in the blockchain world to describe a network or payment system that does not need users to place their total faith in a stranger, an organization, or any other third party. Furthermore, the Web3 revolution relies on decentralized blockchain technology. Web3 is a new version of the World Wide Web that uses blockchain technology to decentralize operations. There are increasing numbers of Big Tech issues, and Web3 offers a solution. And the solution is very unique and problem-solving.
What is GRN Grid and how is it using energy?
Over the past decade, there have been several developments in how the blockchain sector has used energy and bandwidth. It has grown to be one of the world's largest consumers of energy and bandwidth. Over the past decade, the blockchain sector has grown to be one of the world's largest consumers of electricity. Sadlmeir et al. should be read if you want to understand more about how decentralized blockchain technology naturally consumes more than non-blockchain-based systems due to data redundancy (2020). The GRN Grid smart chain was built to operate entirely on renewable energy. Grid overcomes one of the primary limitations of blockchain by dramatically reducing its carbon impact.
GRN Grid certification will be launched by GRN Energy partners in the future. These partners are exclusively certified consumers of renewable energy and will operate GRN Grid Nodes on mining campuses across the world. The parties engaged are listed on GRN Energy's website.
To promote the use of renewable energy, GRN issues green certifications to validators who satisfy certain criteria (for example, confirmation that their energy source is green). The verification method is absolutely free, and the program is open to all users with no limits.
Because the program is completely decentralized, no gatekeeping happens. The verification approach will be based on the most recent advances in this area, such as Knirsch et alpublication.
Who can operate GRN Grid?
Anyone is allowed to operate GRN Grid validating nodes in order to maintain the blockchain's decentralized character. Renewable nodes will be designated for certified validators. End-users have the option of using just these GRN nodes for transactions in the wallet application.
The grid enables you to assign your GRN stake to a recognized validator, commonly known as the Circuit Program. This feature enables the GRN community to help verify Grid and receive validating awards without having to physically operate a node. These initiatives are hosted by the validating community in order to recruit additional stakes in their nodes.
Summarizing everything:
Bitcoin is using an increasing amount of energy, which has sparked much speculation about how long the digital currency will endure. The prohibition on cryptocurrency mining in China was primarily enacted to reduce the country's energy use. Just to keep the Bitcoin network working, 0.5 percent of the world's power is required. How much extra electricity does Google consume? (Businessinsider). Only 28 percent of the energy utilized worldwide comes from renewable sources. Overall, coal accounts for 60% of China's energy, resulting in significant pollution. There are several initiatives underway to assist China in meeting its aim of being carbon neutral by 2060. This is one of the preliminary phases. Some firms have already said that they would not take cryptocurrencies since it is harmful to the environment.
More About The Project:
Website: https://grngrid.com
Twitter: https://twitter.com/grngrid
Discord: https://discord.gg/bDPK9Vf24R
Tеlеgrаm Offісіаl Grоuр: https://t.me/grncommunity
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