GroveCoin Network is the latest blockchain project to enter the market seeking to fulfill the latent potential of cryptocurrencies. To this end, it proposes a highly-decentralized architecture, a native asset ($GRV), and lightning-fast operability at 100 transactions per second.
Moreover, GroveCoin embarks on an ambitious mission to make blockchain use more eco-friendly and launch environmentally conscious products and solutions. Its lucrative business plan, GroveBusiness, has already attracted the support of Dubai’s Royal Family. In fact, Her Highness Shaikha Dubai Al Maktoum’s New Era Metaverse will operate on this blockchain.
Read our GroveCoin review to learn more about this new blockchain network and its revolutionary plans.
What Makes GroveCoin Network so Special?
GroveCoin Network is the primary project of a Dubai-based company, operating since 2022. It is an EVM-compatible blockchain network with considerable scalability potential. In other words, it is fundamentally interoperable with any other Ethereum Virtual Machine architecture.
The market abounds in blockchain projects hard-forked from the Ethereum blockchain. However, GroveCoin stands out by implementing a Proof-of-Authority consensus with QBFT modifications. This improvement means that each transaction requires approval from multiple validators, increasing its security. Most importantly, it offers more validator slots to its growing community of investors and business partners, thus increasing decentralization.
This consensus mechanism and other features increase GroveCoin Network’s performance and sustainability. The blockchain can support an average, albeit scalable, speed of 100 transactions per second (TPS). As a comparison, the Ethereum network has an average of 20 TPS, and Binance Smart Chain (BNB Chain) validates 30 TPS on average.
The GroveCoin Blockchain also has a block time average of only 3 seconds, making it one of the fastest networks in crypto. Its basic operations follow these steps:
- Blocks are produced by validators staking their assets to the network
- Validators randomly take turns to produce blocks in a PoS manner
- Validator set and efficiency are based on the quantity of staked coins or tokens
- Stakers are rewarded for contributing to the network with a proportional amount of the staked asset.
The GroveCoin Blockchain’s high performance has attracted the interest of several influential brands in the industry. As a result, over 30 projects have agreed to deploy their smart contracts on the GroveCoin network in the prelaunch period.
Launching on GroveCoin is possible through the project’s advanced smart contracts and proprietary “Build with Grove” program. Project developers can use them to build and execute Web3 utilities, decentralized applications, and other open-source platforms.
The GroveCoin ($GRV) Token
Fueling the GroveCoin Network’s operations is its native asset, the GroveCoin ($GRV) token. This asset’s rare architecture enables it to function across different blockchains and can be created as a BEP20, ERC20, or GRV20 protocol token.
The developers have set a maximum supply of 100 million GRV tokens. However, only 44 million GRV constitute its circulating supply, making it one of the industry’s lowest supplies of a blockchain coin.
GRV is also at the heart of the project’s development plan, the GroveBusiness. A portion of the GroveBusiness profits will go toward buying back and burning GRV coins on the network. As a result, the token’s supply will diminish in time, and its scarcity will increase its value. The team’s future plans involve the integration of sustainable tech initiatives through the GroveToken business.
The GroveCoin Network will incentivize its growing community to acquire, hold, and use GRV tokens. For example, the network will not charge a tax rate on GRV use besides the network fees that come with all blockchain transactions. Moreover, GRV holders can use their tokens for staking and farming across all networks available via GroveCoin to access APY rewards and other earning opportunities.
Lastly, GRV holders can purchase nodes on the GroveCoin Blockchain and gain rewards depending on the network traffic passing their nodes.
Other essential features of the GroveCoin Network include:
- GroveGold (GRVG) – A gold-backed stablecoin
- GroveKeeper – A storage feature for crypto and NFTs.
- GroveSwap – A decentralized exchange
- GroveX – A centralized exchange
- GroveM – A marketplace for NFTs (non-fungible tokens)
- The GreenOasis Program – a support platform helping eco-friendly projects attract more support.
GroveCoin’s Plan for a Healthier Environment
The GroveCoin Network seeks to become one of the fastest and safest blockchains in the industry. Moreover, it has an eco-friendly Green Plan to develop sustainably while building a healthier future for our planet.
GroveCoin seeks to enter the energy market and reinvest a fraction of all transactions into eco-friendly industries and corporations. Furthermore, it will support environmentally conscious crypto projects to develop and help preserve natural ecosystems. Present and future green-oriented brands can rely on the GroveCoin Network to build brand identity and generate value for their stakeholders.
Despite its young age in the market, GroveCoin already launched a farming Solutions program in October 2022. Next, it seeks to support innovation in solar energy solutions and other green technologies to help power cryptocurrency mining farms, thus reducing the overconsumption and waste of traditional energy.
In the long run, the GroveCoin Blockchain should become an eco-friendly digital hub connecting billions of people in a healthier and wealthier global community.
GroveCoin Network FAQ
When did GroveCoin Blockchain launch?
April 10, 2023.
Who is behind the GroveCoin project?
GroveCoin is a company operating from Dubai. Its development team includes expert professionals, designers, and entrepreneurs with considerable experience in retail, computer engineering, accounting, sales, blockchain, and cryptocurrency technologies. The company is led by:
- John Ghemrawi (CEO) : https://www.linkedin.com/in/john-ghemrawi-1a7715a0/
- Carlo Di Clemente (COO) : https://twitter.com/CarloDCGT
- Nouha Elmasri (CMO) : https://www.linkedin.com/in/nouha-elmasri-62762b78/
Where to buy $GRV?
You can buy GRV tokens at PancakeSwap, SafemoonSwap, UniSwap, Gate.Io, Huobi, and MEXC.
How safe is GroveCoin Network?
The GroveCoin Network uses high-security standards, ensuring the safety of users, transactions, and network-based operations. The blockchain has already completed successful audits from Certik and Stay, two of the industry’s top auditors. Furthermore, the development team has passed KYC validation from the same third-party auditing companies.