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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 credit7,363,170,580
Recent average credit9,885,840
Sierpinski / Riesel Base credit411,534,938 total (18526520 tasks)
Riesel Base credit354,402,638 total (19274503 tasks)
Sierpinski Base credit419,234,417 total (20249969 tasks)
Sierpinski / Riesel Base - short credit399,339,140 total (15336262 tasks)
Sierpinski / Riesel Base - long credit2,957,523,005 total (501839 tasks)
Sierpinski / Riesel Base - average credit1,047,859,385 total (3825500 tasks)
Riesel Base - short credit215,160,018 total (18091379 tasks)
Sierpinski Base - short credit275,082,234 total (12076815 tasks)
TF credit1,283,066,493 total (2115226 tasks)
TypeComputer type
Founder customminer
New members in last day texke · Galih Santosa
Total members776 (view)
Active members128 (view)
Members with credit682 (view)

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