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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 credit37,866,420,668
Recent average credit54,769,761
Sierpinski / Riesel Base credit531,708,154 total (19268444 tasks)
Riesel Base credit422,732,117 total (19882896 tasks)
Sierpinski Base credit503,097,615 total (20624581 tasks)
Sierpinski / Riesel Base - short credit458,166,528 total (15756163 tasks)
Sierpinski / Riesel Base - long credit3,361,841,405 total (797049 tasks)
Sierpinski / Riesel Base - average credit1,353,325,195 total (4323898 tasks)
Riesel Base - short credit272,848,118 total (19880301 tasks)
Sierpinski Base - short credit400,559,034 total (13629330 tasks)
TF credit30,562,218,063 total (13535094 tasks)
TypeComputer type
Founder customminer
New members in last day Mad_Ahab
Total members883 (view)
Active members133 (view)
Members with credit778 (view)

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