GRC Logo

What is Gridcoin?

  • Gridcoin is a new peer-to-peer cryptocurrency that uses distributed computing (BOINC) to benefit humanity by advancing the progress of medicine, biology, climatology, mathematics, astrophysics, and more.
  • The aim of the Gridcoin project is to shift the computational power primarily to BOINC projects whilst the POW mining calculations become a second priority - so as the mining network scales up, the network's BOINC contribution is scaled up in tandem.
  • If you're interested in gridcoin's features, have a read of the Gridcoin Whitepaper

Gridcoin's Features

Gridcoin's feature set is constantly evolving and improving, thanks to dedicated developers, a thorough testing team and a great community; below is a brief list of gridcoin's current features.

Graph
Variable Block Reward
  • Each whitelisted BOINC project is an opportunity for miners to compete for the variable block reward.
  • The block reward ranges from 5-150 GRC; miners compete via contributing the most towards BOINC for a larger block reward.
  • Rewards = ((User's Individual Project RAC)/(Individual project AVG RAC))*150
  • The block reward is halved roughly every 4 years (every 840,000 blocks).
Reward
Scrypt POW Mechanism
  • Proof of work for the verification of transactions is performed via the scrypt algorithm.
  • We wish for GPUs to contribute towards BOINC projects, so we do not take an anti-asic stance.
  • The gridcoin network is scheduled to produce approximately 168 million gridcoins (based on an average subsidy of 100 GRC), which is 8 times as many currency units as Bitcoin.
CPU Mining
CPU Mining
  • CPU mining enables user with no scrypt mining capability to be rewarded purely for BOINC contributions in a fair manner.
  • Users can only earn a block against each BOINC project once per POB lookup period.
  • CPU mining can never exceed 50% of all blocks.
Encryption
Wallet Encryption
  • Wallet encryption allows you to secure your wallet, so that you can view transactions and your account balance, but are required to enter your password before spending any Gridcoins.
  • This provides protection from wallet-stealing viruses and trojans and acts as a sanity check before sending payments.
Whitelist
BOINC Whitelist
  • Gridcoin has implemented a BOINC project whitelist to prevent shenanigans and improve Gridcoin's network security.
  • The Gridcoin community is looking into creating a thorough whitelisting process; Stay tuned for more info!
  • You can find the whitelist here.
BOINC
Mandatory BOINC Participation
  • Because our goal is to further the progress of scientific research, all miners must participate in distributed computing through BOINC. Before Scrypt/CPU miners are able to mine a block, a minimum of 100 RAC must be achieved.
  • This prevents miners swarming the gridcoin network without any boinc contribution
leccy
Scientific contribution offsetting carbon production
  • It is estimated that the Bitcoin network is currently using in excess of 76,000MWh a day of electricity on hashing sha256 alone.
  • By creating a mandatory competitive reward mechanism based on contributing the most towards BOINC projects on top of existing cryptocurrency technology, we aim to justify our carbon production in the form of being the first scientific philanthropic cryptocurrency.
Grants
Educational grants & sponsorship
  • There is large potential for the Gridcoin community to become very philanthropic; sponsoring students in their masters years of study, sponsoring science fairs, helping universities setup their own BOINC virtual supercomputer for scientific research.
  • When the Gridcoin foundation is established, we will be able to properly rally together and help out those in need with gridcoin.
science
Help advance science!
  • With gridcoin, not only will you be rewarded with GRC - you'll be helping to solve some of humanity's biggest problems such as disease, cancer, etc.
  • Even just by using gridcoin as a currency, you'll be helping establish the gridcoin economy - ensuring the thousands of BOINC contributors are able to cover electricity costs.

What is BOINC?

BOINC Logo

BOINC is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. Its free, and harnesses the unused clock cycles from processors and graphics cards to aid in curing disease, exploring the mysteries of the universe, and more.

See below for example projects you can donate computer resources towards.



Mathematics, computing, and games
Physical Science
Biology and Medicine
Multiple applications
  • World Community Grid: Solve aids, cancer, disease, etc.
  • YOYO@Home: Brings existing distributed computing projects to the Boinc world using the Boinc Wrapper technology.
  • Ibercivis: Research in physics, material science and biomedicine.
  • CAS@Home: Computing resources for scientists at the Chinese Academy of Sciences and other Chinese research institutions.
Earth Sciences
Cognitive science & artifical intelligence
  • MindModeling@Home: Utilize computational cognitive process modeling to better understand the human mind.

Types of BOINC projects

Interested in creating a BOINC project? Perhaps one of the following will suit you?

Volunteer
Volunteer/Non-Profit
Commercial
Commercial/For-Profit
  • Companies: use BOINC for desktop Grid computing.
  • Create a commercial BOINC project (such as a video rendering project), charge customer and distribute pay to BOINC contributors.
DAC
BOINC DAC
  • Create a decentralized autonomous BOINC corporation.
  • Create a decentralized company that anyone can profit from, and anyone can submit relevant work units towards for GRC.
  • Examples: Decentralized storage, virtual worlds/marketplaces, anonymous TOR BOINC projects.

BOINC Success stories

To see more success stories, check out the BOINC/project publications within the community section.

Downloads

Windows
v15.01
msi executable
Download
Download
Linux
v15.01
Compile from source
Download
Download
Mac-Osx
v12.77
Download
In Development
Source
Source code for Gridcoin relevant projects.
Github Source
In Development
Windows Gridcoind
Windows compiled gridcoind.exe for gridcoin services.
Download
Stable
BOINC
BOINC Download Page.
BOINC Download
Stable
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