GridCoin (GRC) is an open source cryptocurrency that uses POS-based distributed computing to drive data-driven analytics and scientific advances through network participants, and is used to reward scientific computing contributors on the BOINC platform. GridCoin is an experimental new digital currency that can provide anonymous and instant payment services to users around the world.

1. Project introduction

Gridcoin, abbreviated as GRC, is a digital currency that combines distributed scientific computing with BOINC. By participating in the white projects of BOINC selected by Gridcoin users, we also contribute to these projects while mining to obtain digital currencies. Currently, Gridcoin can use half of its computing power for scientific computing. The developer's goal is to continuously improve the technology and ultimately output 90% of its computing power for scientific computing.

GridCoin GridCoin is a digital currency based on Litecoin and Berkeley's open network computing platform (bonic). The disciplines that benefit from bonic include dozens of fields such as life medicine, astronomy, and materials science. It turns out that I doubt whether there are other algorithms that can not only ensure the security of the digital currency itself, but also contribute to the world outside of the digital currency.

It is the first scientific computing coin. Relying on the BOINC (Berkeley Distributed Computing) platform, this coin uses a decentralized mechanism to determine mining income based on the contribution of scientific computing. It uses computing power to support dozens of scientific research projects such as protein folding, astrophysics, and number theory, solving the problem of wasted energy that Bitcoin mining has been criticized. Founder Rob Halford has been insisting on development for three and a half years, leading an active development team to solve various initial bugs, ensuring the stability and scientific computing functions of the coin.

Gridcoin Gridcoin is innovative in both directions. First of all, GCoin uses computing power to grid computing, and the scientific fields that benefit include dozens of fields such as life medicine, astronomy, and materials science. Secondly, Gramcoin will soon launch the sleep-scrypt algorithm, and the overall computing power of maintaining transactions and security has dropped by about 50%, which is another important innovation in cryptocurrency so far. Gridcoin contributes computing power to scientific computing through the Berkeley Open Network Computing Platform (BOINC).

If the miner of Gridcoin is just mining and does not contribute his computing power to the BOINC scientific computing platform, the return of each BLOCK is only 5 grids; correspondingly, if the computing power is contributed to BOINC, the return of each BLOCK will reach 6 to 150 grids according to the size of the computing power contributed.

2. Comment

Gridcoin is a feature-rich cryptocurrency with a strong, focused developer community responsible for upgrading and maintaining it. Unlike other digital currencies such as Bitcoin, Gridcoin follows the proof of the equity consensus mechanism. Under this mechanism, the new grid coins are based on continuous annual compound interest. Furthermore, the number of grid coins minted by any individual is proportional to the person's shares in the community. BOINC's proof is another feature that researchers track and calculate the contributions of individual projects on the platform. BOINC proof and proof of equity are calculated together as distributed proof studies and track the overall status of user interaction and the contribution of content and processing capabilities to scientific projects, which will help reward individuals who contribute to BOINC.

Related links:

https://gridcoin.us/

https://gridcoin.us/assets/img/whitepaper.pdf

https://info.binance.com/cn/currencies/gridcoin