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 credit5,129,660,424
Recent average credit5,086,927
Sierpinski / Riesel Base credit370,091,208 total (18263998 tasks)
Riesel Base credit290,818,518 total (18524746 tasks)
Sierpinski Base credit368,546,737 total (19822875 tasks)
Sierpinski / Riesel Base - short credit370,939,550 total (15222440 tasks)
Sierpinski / Riesel Base - long credit2,361,398,455 total (430113 tasks)
Sierpinski / Riesel Base - average credit939,235,225 total (3655349 tasks)
Riesel Base - short credit198,027,543 total (17748837 tasks)
Sierpinski Base - short credit230,618,924 total (11834498 tasks)
Badges
Cross-project statsBOINCstats.com
Free-DC
SETIBZH
CountryInternational
TypeComputer type
Members
Founder customminer
New members in last day0
Total members749 (view)
Active members140 (view)
Members with credit658 (view)


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