Wednesday, February 22, 2017

A few weeks ago, I was researching BOINC (Open-software for volunteer computing) when I came across Gridcoin. I have since joined in Gridcoin mining pool and the points earned using BOINC go toward staking (Investing) in GRC.

How to earn Gridcoin for BOINC computation

Approximately 48,000 Gridcoins are generated each day through the DPOR reward mechanism.
Solo-crunching or Pool Crunching
From the site
" Gridcoin (Ticker: GRC) is a decentralized, open source math-based digital asset (cryptocurrency). It performs transactions peer-to-peer cryptographically without the need for a central issuing authority.
    Gridcoin was the first block chain protocol that delivered a working algorithm that equally rewards and cryptographically proves solving BOINC (Berkeley Open Infrastructure for Network Computing) hosted work, which can be virtually any kind of distributed computing process (GPU/CPU/Sensor/Etc).
    BOINC is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. It's free, and harnesses the unused clock cycles from processors and graphics cards to attempt to cure cancer/aids/ebola/malaria, map the milkyway, crack enigma codes, etc..
    Gridcoin rewards BOINC computation using the Distributed Proof of Research (DPOR) reward mechanism, which is a combination of Proof of BOINC (POB) and Proof of Stake (POSv2).
    Proof of Work (POW) consensus mechanisms are not utilised by the Gridcoin network, making the Gridcoin cryptocurrency network far more energy efficient than any existing POW cryptocurrencies. "