GridCoin (GRC) is an open source cryptocurrency that promotes data-driven analysis and scientific progress through network participants using POS-based distributed computing, 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, transliterated as Gradcoin in Chinese, is a digital currency combined with BOINC's distributed scientific computing. By participating in BOINC's white projects selected by Gridcoin users, you can also contribute to these projects while mining to obtain digital currency. At present, Gridcoin can use half of its computing power for scientific computing. The goal of developers is to continuously improve the technology, and eventually output 90% of its computing power for scientific computing.

GridCoin is a digital currency based on Litecoin and Berkeley Open Network Computing Platform (bonic). The disciplines that benefit from bonic include dozens of fields such as life medicine, astronomy, and material science. It turned out that I doubt whether there are other algorithms that can not only guarantee the security of digital currency itself, but also contribute to the world outside of digital currency.

It is the first scientific computing currency, relying on the BOINC (Berkeley Distributed Computing) platform, this currency uses a decentralized mechanism to determine the mining income according to the contribution of scientific computing, and uses computing power to support protein folding, astrophysics , Number theory and other dozens of scientific research projects have solved the problem of wasting energy that Bitcoin mining has been criticized for. Founder Rob Halford has been insisting on development for three and a half years, leading an active development team to solve various initial bugs and ensure the stability and scientific computing functions of this coin.

Gridcoin innovates in both directions. First of all, Gebi uses computing power for grid computing, benefiting scientific fields including life medicine, astronomy, material science and dozens of other fields. Secondly, Gebi is about to launch the sleep-scrypt algorithm, and the computing power to maintain transactions and security has dropped by about 50% as a whole. This is another important innovation of cryptocurrency so far. Gridcoin contributes computing power to scientific computing through the Berkeley Open Network Computing Platform (BOINC).

If the miners of Gridcoin only mine and do not contribute computing power to the BOINC scientific computing platform, then the reward for each BLOCK is only 5 grid coins; correspondingly, in the case of contributing computing power to BOINC , the return of each BLOCK will reach 6 to 150 grid coins according to the size of the contributed computing power.

2. Comment

Gridcoin is a feature-rich cryptocurrency with a strong, dedicated developer community that upgrades and maintains it. Unlike other digital currencies such as Bitcoin, Gridcoin follows a proof-of-stake consensus mechanism. Under this mechanism, new grid coins are based on continuous annual compounding. Additionally, the amount of gridcoins minted by any individual is proportional to that person's stake in the community. Proof of BOINC is another feature where researchers' contributions to individual projects on the platform are tracked and counted. Together, BOINC Proof and Proof of Stake are calculated as Distributed Proof of Research and track the overall status of user interactions and contributions of content and processing power 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