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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 credit793,735,342
Recent average credit5,593,117
Sierpinski / Riesel Base credit83,878,047 total (6840178 tasks)
Riesel Base credit104,389,922 total (5462898 tasks)
Sierpinski Base credit104,552,229 total (5413287 tasks)
Sierpinski / Riesel Base - short credit104,803,777 total (5374181 tasks)
Sierpinski / Riesel Base - long credit177,565,890 total (72628 tasks)
Sierpinski / Riesel Base - average credit105,094,235 total (389913 tasks)
Riesel Base - short credit33,356,622 total (5309790 tasks)
Sierpinski Base - short credit80,106,754 total (3844854 tasks)
Cross-project statsFree-DC
TypeComputer type
Founder customminer
New members in last day Yorkie · dtgrc22
Total members382 (view)
Active members261 (view)
Members with credit347 (view)

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