Melbourne, Victoria, 11th April 2023, ZEX PR WIRE, The GroveCoin Network has recently gone live on the market, bringing a host of exciting new features and capabilities. The project uses an Ethereum Virtual Machine compatible blockchain and utilizes a Proof-of-Authority consensus with QBFT modifications to increase decentralization.
With the promise of high TPS capabilities, several projects have shown interest in the network. The team expects to bring more sustainable technology initiatives onto the blockchain with their GroveToken business.
The Upcoming Market Launch
The GroveCoin Network comes with an EVM-compatible architecture that is fundamentally interoperable with any other Ethereum Virtual Machine architecture.
The developing team modified its Proof of Authority consensus with a QBFT adaptation. Therefore, multiple validators are necessary for the system, increasing decentralization and offering more slots for community investors/business partners.
This project is part of the GroveCoin universe, which puts the $GRV token at its core. $GRV is the network’s native token, with a total supply of 100 million coins. At the time of writing, the token had roughly 44 mln in circulating supply. These numbers make GroveCoin one of the lowest-supply blockchains in the industry.
The platform can handle 100 transactions per second, a number the team can scale according to demand. Moreover, the network has an average block time of 3 seconds, surpassing Ethereum’s 20 TPS and BNB’s 30 TPS.
The team behind GroveCoin is determined to make it a reliable and secure blockchain with its users in mind. It intends to be an appealing solution for any project that needs scalability, speed, and sustainability.
Aiming for Large-Scale Adoption
Before its official launch, the GroveCoin Network managed to catch the interest of several crypto projects. Specifically, more than 30 projects have already agreed to deploy their smart contracts on the network.
This indicates the potential of and interest in the blockchain technology of GroveCoin. The team’s upcoming initiatives further highlight the market appeal of this network. For instance, the team mentioned the intention to integrate sustainable tech initiatives with the GroveToken business.
Additionally, Her Highness Shaikha Dubai Al Maktoum selected GroveCoin Network as the operating blockchain for her New Era Metaverse Business. Furthermore, a portion of the proceeds from GroveBusiness will go to ‘Buy Back and Burn’ GRV coins on the network. This plan aims to reduce the total supply of GRV coins, potentially increasing their value over time.
Overall, these actions indicate that GroveCoin intends to achieve large-scale adoption and become a major player in the crypto industry.
GroveCoin seeks to empower individuals by providing a secure and reliable crypto ecosystem.
Through advanced technologies, such as Future Farming Solutions and renewable energy investments, GroveCoin tackles resource scarcity and environmental degradation. Users can access financial freedom through its platform while contributing to a greener planet.
The team behind GroveCoin is committed to furthering green initiatives and educating users on the benefits of solar farming technologies. The team will reinvest a part of GroveToken transactions towards eco-friendly businesses to achieve its goal.
The GroveCoin Network launch can further the project’s success. With its innovative consensus mechanism and low supply, users can trust that their transactions are secure and efficient.
Anyone wishing to discover more about the blockchain technology of GroveCoin can visit the team’s website. Moreover, all the social media pages listed below can provide further information on the project and its upcoming initiatives.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Economy Bee journalist was involved in the writing and production of this article.
In-depth Analysis of Opside’s ZK-PoW Algorithm
Pop Labs Launches Creator Program Sets Sights on Onboarding 1 Million Creators and Innovators
LATOKEN, a Leading Global Crypto Exchange, Lists Mong Coin, the Hottest Meme Coin of 2023