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| Description | GridCoin 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. |
| Created | 10 Oct 2015 |
| Web site | http://www.gridcoin.us |
| Total credit | 63,571,874,953 |
| Recent average credit | 48,829,803 |
| Sierpinski / Riesel Base credit | 636,453,968 total (22224535 tasks) |
| Riesel Base credit | 522,804,747 total (20861477 tasks) |
| Sierpinski Base credit | 576,225,697 total (21233494 tasks) |
| Sierpinski / Riesel Base - short credit | 481,293,438 total (17166825 tasks) |
| Sierpinski / Riesel Base - long credit | 3,565,387,455 total (902881 tasks) |
| Sierpinski / Riesel Base - average credit | 1,560,165,735 total (4756706 tasks) |
| Riesel Base - short credit | 336,370,774 total (20839615 tasks) |
| Sierpinski Base - short credit | 445,458,294 total (14502269 tasks) |
| TF credit | 55,447,813,506 total (17324013 tasks) |
| Badges | |
| Cross-project stats | SETIBZH Free-DC BOINCstats.com |
| Country | International |
| Type | Computer type |
| Members | |
| Founder | customminer |
| New members in last day | 0 |
| Total members | 948 (view) |
| Active members | 134 (view) |
| Members with credit | 840 (view) |