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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 credit16,085,806,863
Recent average credit15,439,186
Sierpinski / Riesel Base credit455,488,913 total (18867010 tasks)
Riesel Base credit369,287,317 total (19615051 tasks)
Sierpinski Base credit468,003,087 total (20491682 tasks)
Sierpinski / Riesel Base - short credit429,031,310 total (15492418 tasks)
Sierpinski / Riesel Base - long credit3,114,820,605 total (569258 tasks)
Sierpinski / Riesel Base - average credit1,218,408,755 total (4062769 tasks)
Riesel Base - short credit228,442,853 total (19539144 tasks)
Sierpinski Base - short credit378,090,009 total (12562658 tasks)
TF credit9,424,268,163 total (8385293 tasks)
TypeComputer type
Founder customminer
New members in last day0
Total members824 (view)
Active members119 (view)
Members with credit724 (view)

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