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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 credit4,881,745,630
Recent average credit3,147,817
Sierpinski / Riesel Base credit360,275,698 total (18187555 tasks)
Riesel Base credit281,912,678 total (18449125 tasks)
Sierpinski Base credit353,378,232 total (19776756 tasks)
Sierpinski / Riesel Base - short credit357,276,430 total (15129573 tasks)
Sierpinski / Riesel Base - long credit2,205,226,155 total (407561 tasks)
Sierpinski / Riesel Base - average credit911,890,865 total (3596435 tasks)
Riesel Base - short credit197,465,164 total (16888855 tasks)
Sierpinski Base - short credit214,336,144 total (11751046 tasks)
TypeComputer type
Founder customminer
New members in last day0
Total members747 (view)
Active members137 (view)
Members with credit655 (view)

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