A blockchain is a digital ledger of transactions, distributed across a network of computers. Each block contains a list of transactions, and these blocks are linked together in chronological order to form a chain. What makes it unique is its decentralized and transparent nature: every participant on the network can see the entire chain and verify its validity, and once information is added, it's nearly impossible to alter without the consensus of the network. This makes blockchain a trusted and verifiable system without the need for central oversight.
Blockchain technologies are often described as layers, with each subsequent layer building upon the speed, security, and reliability of the previous one. The Grow ecosystem is built on top of the following layers:
Layer 1: Grow Blockchain
The Grow Blockchain is a reward chain that operates on a fork of the Ethereum blockchain and uses a Proof-of-Authority consensus mechanism. This layer is governed by the DGF based on a duly ratified charter.
Layer 2: Grow Ledger Technology
The Grow Ledger Technology, or the software and accounting layer comprising the source code of the Node Network DGF, and the operably associated smart contract(s) built on top of the Grow reward chain network, consults with the licensed software nodes providing input data and/or confirming data, information, or actions operating with the Grow Ledger Technology to facilitate data validation on the Grow reward chain. Actions of the nodes lead to points, which then lead to the Grow Blockchain distribution of digital rewards. The accounting on the ledger is facilitated by the nodes and added to the blockchain.
Layer 3: Grow Interface, Dashboard, and Other Technology
The technology in this layer allows Node Owners to interact with the other layers and includes a non-custodial wallet for managing digital blockchain assets, useful information about nodes and rewards, and tools for accountability and transparency.
For additional information about the Grow blockchain please visit the DGF website:
Disclaimer: GROW is a digital reward distributed through the Grow node network according to predetermined smart contracts. GROW is designed to have utility on the Grow platform for the purchase of Grow products and services, although other cryptocurrencies may be used as well. GROW is not available for purchase from Grow. GROW is not an investment product and may never have any value. Grow node owners should not expect to recognize any value from GROW other than its utility with Grow. Although Grow plans to undertake efforts to become a successful business, it is highly likely that GROW’s value will not correlate with the success or failure of Grow.