The ETHEREUM of ETHEREUM has raised $ 30 million from investment capital companies to increase its decentralized solar farms.
The tour was led before Framework The Union Square Ventures, with Share from Lattice Ventures, Protocol Labs, Hack VC, HF0 and Alliancy Dao.
According to the announcement of October 31, the funds will support the scale of the solar power network, which is expected to replace the power consumption of 34,000 homes in India.
“In less than a year, Glow has grown from a surface solar project in the United States to a network of several million solar farms in India. David Foreck, founder and director of Glow Labs, said that the solar farms that have already built are expected to eliminate more than 85,000 tons of carbon dioxide emissions over their life.
DePin Protocols – or decentralized physical infrastructure networks – benefit from Blockchain technology to allow individuals to have collective possession, maintenance and profit from infrastructure such as solar power networks, wireless networks and data storage systems. Participants who contribute to physical resources, such as the energy contract, are rewarded through digital symbols, which makes them viable and economically developed.
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According to the data collected by DePin.ninja, Glow is the most profitable DePin network, with more than $ 3.5 million of revenues has accumulated since its experimental launch in 2023 – which prepares it in popular systems such as helium.
Glow claims that it has a little higher revenue of $ 5 million, thanks to the recent expansion over the past forty days in Rajistan, India.
Project revenue. Source: DePin.ninja
The solar farms are rewarded for the GLW glow network for their electric production, as well as with Stablecoins bonuses to get their carbon balances. According to the start of operation, the incentive model gives the priority of the equivalent of solar farms that generate the most environmental impact, targeting the areas where their clean capacity can be made more effectively highly carbon emissions.
Another DePin protocol that works on decentralized energy is the professor’s book, which allows energy trading from peers by allowing consumers to sell extra energy directly to their neighbors.
“We think DePin can be a powerful tool for physical infrastructure all over the world,” said Michael Anderson, co -founder of Framework Ventures.
Related to: The decentralized network leads the emerging link 40,000 routers, and aims to decrease the internet costs
