Gridcoin

Team info
Description	GridCoin is a 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 unnecessary heat and wasted power for the proof of work algorithms required to keep the coin network running. 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.
Created	20 Dec 2022
Web site	http://www.gridcoin.us/
Total credit	512,388
Recent average credit	253
Cross-project stats	BOINCstats.com Free-DC SETIBZH
Country	International
Type	Computer type
Members
Founder	marmot
New members in last day	0
Total members	12 (view)
Active members	2 (view)
Members with credit	9 (view)