Blockchain Project GRNGrid Attracts $50M
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Renewable energy-focused blockchain project GRNGrid has just attracted $50 million from Bahamas-based venture capital firm GEM Digital.
The company plans to use the funds to establish new partnerships, including with exchanges, as well as improve the technologies used.
The L1 blockchain from GRNGrid is positioned as highly scalable and environmentally friendly. According to the press release published by the company, users can choose nodes that run only on renewable energy sources to verify transactions.
According to the project white paper:
“GRNGrid will also register validator devices using a smart contract and punish any network member for changing equipment multiple times.”
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