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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 credit28,905,936,856
Recent average credit43,244,008
Sierpinski / Riesel Base credit485,628,733 total (18997452 tasks)
Riesel Base credit410,656,377 total (19833035 tasks)
Sierpinski Base credit499,971,429 total (20607327 tasks)
Sierpinski / Riesel Base - short credit455,782,911 total (15690888 tasks)
Sierpinski / Riesel Base - long credit3,292,601,805 total (765353 tasks)
Sierpinski / Riesel Base - average credit1,322,811,085 total (4277459 tasks)
Riesel Base - short credit254,739,723 total (19709546 tasks)
Sierpinski Base - short credit395,777,292 total (13010517 tasks)
TF credit21,788,043,063 total (12470580 tasks)
Cross-project statsSETIBZH
TypeComputer type
Founder customminer
New members in last day Kane Furioso
Total members863 (view)
Active members128 (view)
Members with credit760 (view)

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