GRID: Expanding The Use Of Green Energy In Blockchain Technology

INTRODUCTION

Grid is a blockchain-based platform that offers innovative ways to deal with the rising expenses caused by distributing electricity and charging users based on their usage. Grid’s platform is decentralized because no one party stands above the other – it relies solely on its users to keep things running smoothly, making this solution affordable for everyone involved.

Grid offers a solution to reduce costs and create new [opportunities](https://grngrid.com/#)  in the cryptocurrency marketplace. Grid is decentralized and billed directly to users based on their actual usage! Billing was always a problem that plagued offline transactions, and as a result, there isn't a need for trust or any type of middleman: thus saving everyone time, money, and effort as a result while also making audits more efficient by removing the need for trust and any type of mediator.

Grid offers an important alternative to carbon-reliant blockchain technology. They strive for universal use of green energy in the blockchain, and hope to offer any company or individual a chance to "go green" as soon as Web 3.0 is widespread. By supporting GRN, Grid gives power back to the people!

Grid offers multiple means on how to use the GRN token. Apart from staking, users can purchase the GRID token and use it to pay for their energy needs. It also serves as a mean of incentive for validators while they earn GridCoin when they contribute to strengthening and securing the Blockchain. The GRN token has further utility in that it can be amalgamated by an energy company created by Grid leadership as another effective mean of promoting its renewable energy service offerings

 The Grid Platform also includes several special features such as an integrated payment and escrow system, swapping pools, and encrypted chat [functionality](https://t.me/grncommunity)      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.

OBJECTIVE 

GRID hopes to accelerate the adoption of renewable energy by making it more accessible and supporting those who are energizing the world like solar panel installation companies to help take us closer to Utopian-entrepreneurial goals set by several forward-thinkers like the United Nations. Since renewable energy is progressive and is becoming increasingly more accessible, supporters of a greener world deserve a chance at getting their piece of this valuable pie so that they can contribute more efficiently in sustainable development as donors/suppliers of affordable power sources like solar panels become incentivized via incentives.

ENVIRONMENTAL SOLUTIONS

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!

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.

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 .

THE FEATURES OF GRID

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

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.

GRNPay

You will want to pair this great feature with other smart apps that is compatible with EnScrypt and Exnode. If you use EnScrypt, it can hold the information of this app and notify the user when payment is received. The Exnode can handle currency conversions for people who don't have a GRN wallet. This is why GRNPay does not have an option for currency conversion , but if you are using EnScrypt or EXNode, then it does not matter.

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.

CONCLUSION

Grid is an innovative blockchain project that incorporates an efficient and ethical billing method. Grid is allocating a certain amount of credits to each individuals who enroll as users. This allows the user to make transactions on a secure and decentralized platform at rates, which are specified by the Grid software and not by any third party. Additionally, the cost of transaction can be significantly decreased when the transfer recipients or senders have internet connectivity available because those with offline access will incur higher costs for use. By integrating a blockchain solution, Grid promotes security and accountability since there isn't a middleman who needs to monitor compliance within the network. Moreover, this peer-to-peer approach creates less fees and thus makes it more affordable for people to participate.

  

PROJECT LINKS

Website: https://grngrid.com/#

Telegram: https://t.me/grncommunity

Twitter: https://twitter.com/grngrid

Discord: https://discord.gg/bDPK9Vf24R

AUTHOR

Bitcointalk username: Henrylite 

Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=3427526

Proof of Authuantication: https://bitcointalk.org/index.php?topic=5390302.msg59634783#msg59634783

Telegram username: Henrylite21

BSC Wallet Address:  0xa9357db083C51DF74eb77cD6A8c20B69D8c72B05