What is GridCoin Crypto Currency?A brief description of GridCoin.
After Bitcoin (Created by Satoshi Nakamoto in 2008) evolved and matured, waste heat has increased exponentially to secure blockchains of itself and clones. The mining operation generates heat by testing millions of combinations of blockhashes. To replace this operation with a more useful proof-of-work, Gridcoin introduces a novel algorithm based on work done in Boinc projects, in addition to requiring a multi algorithm hash solution that is more secure than bitcoin’s single sha256 hash algorithm. Mining participants may choose any official boinc project including but not limited to Cancer Research, HIV, Alzheimer’s, World Community Grid, Malaria, Mad Cow, DNA sequencing, 3d farm rendering, nanotechnology, protein structure modeling, Quantum chemistry, Drug discovery, Microgravity, Neutron star search, Cryptographic research, Large Primes, weather models, and much more.
GridCoin Video
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The purpose of GridCoin
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GridCoin Abstract
A distributed crypto-currency utilizing a hybrid proof-of-work design based on scrypt, skein, groestl and cubehash for the security portion of the proof of work, and Proof Of Boinc for the remaining portion of the Proof Of Work.
More information can be found in the GridCoin whitepaper https://www.gridcoin.us/images/gridcoin-white-paper.pdf
Other GridCoin facts
- Trading symbol: GRC
- Governance: Semi-centralized
- Open source: Yes
- Product status: Beta version
- Consensus method: Proof of work
- Emmission rate: Unknown
- Transactions per second: Unfortunately we don’t have this data available.
- Total Supply: N/A
- Release date: 2013-10-16
Usefull GridCoin links
- GridCoin’s Website
- GridCoin pricing data & fundamental GridCoin information
- GridCoin’s Website
- GridCoin official blog
- GridCoin’s Bitcointalk Forum
- GridCoin’s Reddit Forum
- GridCoin’s block explorer
- GridCoin’s Alexa site stats
- GridCoin’s official forum: Unfortunately we don’t have this data available.
- GridCoin’s Github code repository:
https://github.com/gridcoin/Gridcoin-Research - GridCoin’s roadmap:
Unfortunately we don’t have this data available. - GridCoin’s team page: Unfortunately we don’t have this data available.
- GridCoin’s whitepaper: https://www.gridcoin.us/images/gridcoin-white-paper.pdf