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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 (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 site
Total credit3,250,562,056
Recent average credit2,312,118
Sierpinski / Riesel Base credit279,385,617 total (16531483 tasks)
Riesel Base credit237,820,596 total (17552126 tasks)
Sierpinski Base credit297,008,523 total (18121410 tasks)
Sierpinski / Riesel Base - short credit301,996,332 total (14451738 tasks)
Sierpinski / Riesel Base - long credit1,014,591,315 total (193487 tasks)
Sierpinski / Riesel Base - average credit764,464,500 total (3174632 tasks)
Riesel Base - short credit163,367,628 total (15759255 tasks)
Sierpinski Base - short credit191,946,157 total (9682492 tasks)
Cross-project statsSETIBZH
TypeComputer type
Founder customminer
New members in last day0
Total members692 (view)
Active members211 (view)
Members with credit611 (view)

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