Gridcoin compensates the coin miners (researchers) for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, particle and astrophysics, thus providing real benefits to humanity. Gridcoin compensates researchers for contributing computational power towards BOINC research using an energy-efficient Proof-of-Stake process, instead of generating heat and using computational power for a Proof-of-Work algorithm. Gridcoin differs from other scientific cryptocurrencies in its ability to support many different kinds of scientific projects and is only limited by what is currently broadcast over the BOINC network, and the project whitelist decided upon by community consensus.
There was a change from the original Gridcoin protocol (Gridcoin-Classic) to Gridcoin-Research, the actual Gridcoin. Gridcoin-Classic used a hybrid Proof-of-Work which allowed each computer to spend half of the time hashing, and half of the time contributing to science; An improvement on Bitcoin, but computational resources were still being wasted. The BOINC work was only used to measure the subsidy that was supposed to be minted with the block. Gridcoin-Research makes scrypt mining and Proof-of-Work hashing obsolete. With the change to Gridcoin-Research and the Proof-of-Research algorithm, nearly all of the energy goes to science; The compute power to secure the block chain is minimal. In the Proof-of-Research algorithm, the BOINC work is not only used to measure the subsidy and provide a unique alternative to classic work measuring Proof-of-Work schemes, but actually complements the security of the Proof-of-Stake system.
Poloniex Exchange has one of the highest GRC Trading Volumes at this time!
Go and get your GRC´s while they are still below 0.10 cents…
…and don´t forget to spread the word about GRC, of course, after you have bought yours 🙂