Energy use and sustainability of blockchain technology is a burning topic. But some projects seek to ensure that their activities are environmentally friendly – all while giving environmentally conscious consumers a choice to go green.
One of them is GRNGrid. Here, founder and chief marketing officer John Errol de Vroede tells us more about the platform’s sustainability credentials, how this is achieved, and why its proof-of-stake approach avoids common pitfalls surrounding centralization.
1. Hello! Can you simply explain what your project does?
GRNGrid is an environmentally friendly, scalable, and stable Layer 1 blockchain, with new DeFi features.
These features allow everyone to have unauthorized access to cheap and easy-to-use DeFi protocols such as yield farming, warehousing, DEX and payment and escrow service.
We also introduce Proof-of-Stake V2, known as PoS2 for short. This new consensus method has been shown to provide more security, improved decentralization, and better financial sustainability.
The GRN token is the original GRNGrid token. The GRN blockchain will be governed by staking for verification, which will be burned as transaction fees. You can also share it in our inbuilt DEX called Exnode.
2. Tell us more about what makes your blockchain project sustainable.
GRNGrid is powered by auditors who work on sustainable energy and run on robust hardware. The network itself is very energy efficient.
Users can choose to complete their transactions on an exclusively green energy-powered contract.
Headquartered in Zug, Switzerland, the GRN Association protects our sustainable vision, as well as finances environmental projects. This organization also deals with the ReCharge program, which enables auditors to reuse their machines and reduce e-waste.
GRNGrid is financially sustainable. It is the first blockchain with a consensus method specifically designed to deal with whales and achieve a fairer distribution.
3. Where do you fall into the debate over Bitcoin’s energy use – does it use as much electricity as a small country… or does it have little impact?
Some of the articles written on this topic misrepresent Bitcoin’s energy use – but according to research, the impact is significant and cannot be ignored.
For the mass adoption of cryptocurrencies and a bright future, we believe that sustainability and energy efficiency should be the top priorities when designing the network.
4. What is your argument against those who claim that Proof of Stake networks are more centralized than the PoW competitors?
We agree – that’s why we developed PoS2.
Traditional Proof of Stake systems give those with the highest stakes the most influence and the most power. Venture founders and venture capital firms often have the highest stake and can essentially control the system.
We saw a recent example where an unnamed high-risk individual or entity essentially agreed to control someone’s portfolio. This is against everything that decentralization represents.
By introducing PoS2, we have reduced the power of whales and increased the rewards for validators with a lower stake.
5. Do you think your sustainability credentials can encourage green consumers to adopt blockchain technology?
We certainly hope so! Unfortunately, the hotly discussed topic leads to more hesitation in the adoption of cryptocurrencies and an increase in divergence between the two sides.
Our ultimate goal will be union. Providing a system that optimizes every major aspect for better adoption of encryption techniques. We are particularly focused on ease of use in DeFi. Creating an application that is easy to use and secure with all the features on the GRNGrid will encourage many people to try DeFi.
In this way, it is not only sustainable, but designed for the masses – safe, scalable and innovative.
6. You say that your project runs only on renewable energy – how do you achieve that?
Our renewable energy partners, who specialize in mining and hosting facilities, have shown a keen interest in running Grid Nodes as investigators.
With their help, we can kick-start the availability, speed, and sustainability of the network — even letting us say the network will be the first truly green blockchain since launch.
However, GRNGrid’s great features encourage more validators to participate. So the development team is tasked with creating a decentralized check for energy sources.
7. Can you tell us about your recharge efforts to recycle devices?
We cleanse after ourselves, that is our motto. With ReCharge, any GRNGrid auditor can apply for their appliance recycling program sponsored by the GRN Association. Devices will be forwarded to data center applications of GRN-Energy partners.
8. What are the main intended use cases for GRN?
Our main goal is to create a sustainable and easy-to-use alternative to all DeFi protocols.
That’s why GRNGrid was created for everyday use, to handle massive volumes, and to perform under pressure.
Under no circumstances, GR