GRN - The answer for to the carbon impression of blockchain

INTRODUCTION

• Grid is a smart energy platform that makes it easier for anyone to get involved in renewables by minimizing the wasteful use of power and devices around the world by introducing GRID.
• Our Grid Platform enables green-only transactions that allows users to make verified and authenticated payments using tokens. This is made possible because of the unique smart contract capabilities built into the platform’s software. These contracts are a vital part of the foundation that ensures all funds will be correctly handled without any possibility of fraud. The Grid Platform also includes several special features such as an integrated payment and escrow system, swapping pools, and encrypted chat functionality between users. No permission is required for this functionality and the validation is decentralized so it 's not reliant on any single person or corporation?.
• Grid is creating a power network for people who happen to own solar panels. Grid’s native token, GRID, is like airmiles for individuals and companies that decide to recycle their own electricity by paying others at the same time when their own devices are not in need of it.
• Public "blocks" are held in a network of "chains" that are connected by peer-to-peer nodes, which are used to keep transaction records. This form of data storage is referred to as a "digital ledger. Transactions are authenticated by the owner's digital signature, which prevents them from being tampered with. As a result, the digital ledger's data is extremely safe.
• The blockchain is the foundation for cryptocurrency, which is a form of decentralised digital money. The two well-known cryptocurrencies, Bitcoin and Ethereum, may be familiar to you, but there are thousands of others out there.
• Web2 and Web3 are distinct, yet decentralisation is common.
• Web3 improves the internet. Trustless, self-governing, permissionless, scalable
• Web3 apps rarely share a server or database (usually hosted on and managed by a single cloud provider). Or a mix of both; not blockchains, but decentralised networks with numerous nodes (servers). These programmes are called dapps in web3 (decentralised apps). It pays participants to provide the greatest service to users. Web3 frequently references bitcoin. Many of these protocols use encryption. Anyone who creates, governs, or improves one of the projects receives tokens. In many cases, these protocols replace cloud-based services. Technical and non-technical contributions to the protocol can earn money. Like AWS, users frequently pay for the protocol. The cash goes to web3 participants. With decentralisation comes the elimination of wasteful middlemen.

OBJECTIVE

• Grid’s objective is to revolutionize the way renewable energy conversion is conceptualized and implemented in blockchain technology by providing a unique platform which will accelerate the adoption of renewable energy use by companies and individual people alike, and leading the way towards Utopian-backed goals set by several future-oriented organizations such as the UN. The progressive distribution of GRN for validation supports sustainable development (e.g. rewards low cost renewable energy producers like solar investors) and discourages wealth build-up (by promoting grid power use instead), thus positioning GRN as a viable alternative to existing centralized technology.

ENVIRONMENTAL SOLUTIONS

• The GRN Grid smartchain is based on renewable energy. Therefore, the digital currency does not yield on a harmful effect to the environment. The smartchain is going to be activated by verified partners of GRN Energy. These partners are selected and comply with the international laws when it comes down to energy management.
• To encourage the use of renewable energy, GRN has launched a 'green certificate' scheme. Participating companies can exchange their non-renewable forms of energy for green certificates - also known as GRNs. Any company that produces sustainable forms of energy can join in and earn these valuable tokens whether it’s an individual, business or community. The verification process is completely free and open to everyone anywhere in the world without any restrictions. This way businesses do not have to pay to get verified through external agencies, saving time and money. It’s a fully decentralised system, so no gatekeepers are involved; it’s truly innovative!
• Grid allows users to set up main validators who run the validation protocol on their computers. These nodes will help keep this decentralized system strong by approving transactions and being rewarded for doing so! Because even small amounts of stake can make a difference, it’s important to know where your stake is going when electing your validator. So choose one that is reputable, reliable and trustworthy to run your software with you in the network!

SECURITY AND DECENTRALISATION

• The blockchain industry relies on validators without a clear penalty system. This exposes consumers and institutions to risk, such as the notorious 2017 attack where all Ethereum’s assets were stolen. The lack of active security and a transparent penalty mechanism are primary impediments that prevent blockchain adoption. This is important because, in PoW systems like Bitcoin, all of the hash rate is in the hands of four huge distributors only.
• One of the assumptions of Proof of work is that to get more hashing power, you need to have more money. Often times this assumption isn’t true and many people have managed to use consumers’ CPUs to mine Bitcoins faster than everyone else by taking advantage of “pools”. In fact, the top four Bitcoin miners control over 53% of all hashing power which can be disastrous for the entire cryptocurrency scene.
• Proof of Stake assumes that token holders have both the incentive and the power to validate activities on staked platforms. The concept considers that validators can validate transactions as long as they possess a sizeable stake in the network (Vitalik, 206). However, this fairytale assumes that bad actors can’t exploit opportunities when **** hits the fan and that they didn’t get their tokens through deception or an attack. If this was true, then projects would be perfect! And P of S is currently actively discouraging decentralization because it’s encouraging wealth concentration because validator rewards are linked not only to how much money you are willing to risk, but also how much of your stake you are willing to share with everyone else in order to allow transactions to take place. This means wealth will concentrate throughout certain key hands and new validators will be faced with high stakes costs

SPEED AND SCALABILITY

• Existing blockchains are typically classified into three categories;

FIRST GENERATION

• Bitcoin and other similar currencies were the first of their kind, requiring a more secure and efficient transaction system. These currencies can be regarded as the frontier of cryptocurrency development, setting the framework for those that would follow in their footsteps.

SECOND GENERATION

• There is a second generation of blockchain systems which allow developers to create decentralized applications by providing both better throughput efficiency and support more crypto-assets. But while they used PoW in the first generation—with the exception of Neo—the recent PoS implementations result in increased scalability and a potential 2,000X improvement in transaction per second capacity compared to Bitcoin, for example.

THIRD GENERATION

• Third generation blockchains, such as Solana?, are constructed on top of the previous two generations and address several scalability difficulties. For instance, Solana boasts a theoretical speed of 50.000 TPS?. By expanding bandwidth and lowering expenses, this generation enhances the utility of blockchain for the common customer?.

GRID FEATURES

• EnScrypt: EnScrypt will allow users to attach a message which they can then send with every transaction or as standalone messages. These messages can include invoice numbers, payment reference codes and friendly notes.
• ExNode: ExNode is a Grid integrated exchange service that runs on the blockchain. Users can either stake or swap their tokens to any (stable) currency of choice on Grid, without ever needing to make a transaction to the ExNode contracts directly. Staking involves creating a fee which may be higher or lower depending on the GRN token and whether you are staking based on GRN tokens or any supported third-party tokens once implemented. This way anyone can stake EXNode by simply temporarily forking over some GRN tokens in order to enjoy all of the benefits that staking provides.

TOKENOMICS

• Green ($G) will serve as the native token on Grid and will primarily be used for:
• 1. Shopping on the Grid (NFTs)
• 2. Staking rewards and validation
• 3. Voting for features

ROADMAP

• Starting in Q1 of 2023, grid token will be usable on the grid network until 30% of storage capacity is utilized. Whilst GRN remains pegged to USD and continues to be run on the ERC20 network, it’s flexibility allows for usage across other blockchain platforms without sacrificing stability. The combination of utility and transferability will allow for use as a form of payment within the ecosystem. Once GRN reaches a certain capacity threshold, we will have introduced Grid, our bridge between blockchains which gives us an opportunity to test and iterate until our core offering is completed by 2026.

Why Invest In GRN?

• A global blockchain, shipping, banking, healthcare, and other industries could be revolutionised by GRN. GRN removes intermediaries for a genuinely decentralised and sustainable blockchain. In addition to green energy campuses, GRN attracts Web 3.0 developers, investors, and individuals who want to make a difference. For people who want to use GRN's Grid smartchain, it's a good investment because of how it thinks about blockchains.
• A cleaner and more sustainable blockchain ecosystem is possible with the GRN effort. GRN Grid is a smartchain for Web 3.0 apps. Reduced energy usage and e-waste make it a future blockchain paradigm.

FOR MORE INFORMATION:

• https://grngrid.com
• https://twitter.com/grngrid
• https://t.me/grncommunity
• https://discord.gg/bDPK9Vf24R
• https://grngrid.com/greenpaper/

AUTHOR

• Bitcointalk username: vanminh.hnpro
• Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2510040
• Proof of Authuantication: https://bitcointalk.org/index.php?topic=5390302.msg59570087#msg59570087
• ERC20 Wallet: 0x8156987464b16462940152af37d1ff129069579a