Home

What is Gridcoin?

GridCoin is a new peer-to-peer internet based cryptocurrency that aims to benefit humanity by participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics.

Why Gridcoin?

Bitcoin consumes approx. 23,000 megawatts per day.

Shift the computations to Boinc projects while our network is scaled up, boinc utilization is scaled up.

Instant peer to peer transactions, worldwide payments and very low processing fees.

   

GridCoin is a new peer-to-peer internet based cryptocurrency that aims to benefit humanity by participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics.

Downloads

Windows
Windows
Source Code
Gridcoin Zip

Gridcoin

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 unecessary 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.

Vital Statistics:

Algorithm: Scrypt, Re-target: 30 minutes with 2.5 min block targets, Block reward: 5-150, 5 GRC wihtout Boinc, 6-150 - receiving a calculated subsidy based on boinc utilization.

Total coins: Gridcoin is scheduled to produce approximately 168 million currency units (based on an average block subsidy of 100GRC).

Official Mining Launch Date: 10/16/2013 @ 11:00PM CST

 
  
About the Berkeley Open Infrastructure Network Computing Grid: (BOINC)

Boinc is an opensource volunteer oriented computing grid that combines the processing power of all of the distributed PC's to concentrate on important projects.

Its free, and harnesses the unused clock cycles from PC and Video cards to aid in the research for the project goal.

Some of the major projects that you can participate in:

  • Cancer research to help find cures for cancer and schizophrenia
  • Rosetta@Home: 3 dimensional protien modeling, HIV, Cancer, Alzheimers
  • World community grid: Various projects including researching strains of rice for regions where hunger is a concern World Community Grid - Rice
  • Malaria control
  • Alzheimers and Mad cow research
  • DNA Sequencing, Microorganism identification, Bird flu research, protien docking algorithms, molecular biology, evolution research
  • Nanotechnology research to find new molecular materials
  • Large scale protien structure prediction, understanding diseases and pathologies
  • Quantum chemistry
  • Discovery of new drugs
  • Microgravity and microfluid research
  • Search for Neutron stars
  • Particle accelerator research
  • Cryptographic research
  • Search for extraterrestrials
  • Creating better weather models, predicting the weather

Mining Reward

Miners are currently awarded with 5-150 new gridcoins per block, an amount which gets halved roughly every 4 years (every 840,000 blocks). The gridcoin network is therefore scheduled to produce approximately 168 million gridcoins (based on an average subsidy of 100grc), which is 8 times as many currency units as Bitcoin

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 gridcoins.

This provides protection from wallet-stealing viruses and trojans as well as a sanity check before sending payments.


Not sure where to start? Visit the forum.

 
Latest Tweets

  • Services
  • Contact Us
  • Contact@Gridcoin.us

Copyright 2013 - Gridcoin
  •