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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 credit335,087,409
Recent average credit1,928,623
Sierpinski / Riesel Base credit23,820,726 total (3342871 tasks)
Riesel Base credit42,854,997 total (2119112 tasks)
Sierpinski Base credit56,783,278 total (2986964 tasks)
Sierpinski / Riesel Base - short credit43,394,239 total (2251932 tasks)
Sierpinski / Riesel Base - long credit53,145,185 total (45176 tasks)
Sierpinski / Riesel Base - average credit69,516,795 total (311324 tasks)
Riesel Base - short credit11,832,855 total (2619174 tasks)
Sierpinski Base - short credit33,740,942 total (1729323 tasks)
Cross-project statsFree-DC
TypeComputer type
Founder customminer
New members in last day Hafierre · silence911 · cpu_boinc
Total members211 (view)
Active members136 (view)
Members with credit188 (view)

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