Gridcoin
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Gridcoin

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DescriptionGridCoin is a new peer-to-peer internet based cryptocurrency that aims to provide real benefits to humanity by compensating the coin miners for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics by concentrating a large percentage of the computational power towards BOINC research - instead of generating unnecessary heat and wasted power for the proof of work algorithms required to keep the coin network running. It is estimated that bitcoin is using approximately 23,312 megawatt hours per day (see electric consumption at blockchain.info/stats (24 hour stats)) of electric for block solving algorithms. The aim of the gridcoin project is to shift the computational power primarily to Boinc projects while the mining operations become a second priority - so as the network is scaled up, boinc utilization is scaled up in tandem. The coin miners will be rewarded with a small token subsidy if they fail to mine boinc shares, but a much larger subsidy when mining with boinc. This digital cryptocurrency allows instant peer to peer transactions, worldwide payments and very low processing fees. The source code is open source and allows everyone to take part in the success of the currency. Gridcoin is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware, therefore is not as likely to be replaced by specialized ASIC mining chips in the future. Gridcoin provides faster transaction confirmations (2.5 minutes on average) and uses memory intensive scrypt-based proof-of-work algorithms to verify transactions.
Created10 Oct 2015
Web sitehttp://www.gridcoin.us
Total credit3,454,425,168
Recent average credit6,114,720
Sierpinski / Riesel Base credit279,602,874 total (17152701 tasks)
Riesel Base credit243,294,156 total (17587717 tasks)
Sierpinski Base credit302,940,986 total (18889021 tasks)
Sierpinski / Riesel Base - short credit307,511,052 total (14476129 tasks)
Sierpinski / Riesel Base - long credit1,161,648,465 total (217570 tasks)
Sierpinski / Riesel Base - average credit794,542,035 total (3260171 tasks)
Riesel Base - short credit166,007,100 total (16124971 tasks)
Sierpinski Base - short credit198,893,877 total (9718583 tasks)
Badges
Cross-project statsFree-DC
SETIBZH
BOINCstats.com
CountryInternational
TypeComputer type
Members
Founder customminer
New members in last day0
Total members713 (view)
Active members214 (view)
Members with credit626 (view)


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