Gridcoin

Gridcoin

Team info
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 16 Nov 2015
Web site http://www.gridcoin.us
Total credit 72,070,970
Recent average credit 47,130
Monkeys_v1 credit 28,922,610 total, 11,420.97 average (2834155 tasks)
Monkeys_v2 credit 29,426,960 total, 11,768.14 average (2883449 tasks)
Monkeys_v3 credit 7,060,385 total, 12,695.77 average (646131 tasks)
Monkeys_v4 credit 6,661,320 total, 11,260.67 average (608554 tasks)
Badges
Cross-project stats SETIBZH
BOINCstats.com
Free-DC
Country International
Type Computer type
Members
Founder Profile Moises Cardona
New members in last day 0
Total members 131 (view)
Active members 31 (view)
Members with credit 77 (view)


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Generated 25 May 2018, 8:56:53 UTC