Overview of GridCoin

  • Gridcoin has also had an impact on the cryptocurrency research and is referenced in many scientific papers and whitepapers: Original Gridcoin Scientific Paper, Sidecoin: a snapshot mechanism for bootstrapping a blockchain, Distributed Consensus Technologies in Cryptocurrency Applications, Crowdware: A Framework for GPU-Based Public-Resource Computing with Energy-Aware Incentive Mechanism, Blockchain Technology: Principles and Applications, Translating Commons-Based Peer Production Values into Metrics: Towards Commons-Based Crypto-Currencies, A Novel Method for Decentralised Peer-to-Peer Software License, Demystifying Incentives in the Consensus Computer, Mastering Bitcoin: Unlocking Digital Cryptocurrencies.
  • GridCoin (GRC) is a new 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.
  • Gridcoin attempts to address and ease the environmental energy impact of cryptocurrency mining through its proof-of-research and proof-of-stake protocols, as compared to the proof of work system used by Bitcoin (although it fails to explicitly address the energy cost of computing power).[4][5][6]
  • Gridcoin can be purchased through its own proprietary wallet, called GRC Wallet (currently on a release version called, which can be downloaded from the official Gridcoin website, from GitHub (available for Windows and Linux as well as for MacOS), and from other sources.
  • Gridcoin (ticker: GRC) is an open source cryptocurrency which securely rewards volunteer computing performed on the BOINC,[5] a distributed computing platform that is home to over 30 science projects spanning a range of scientific disciplines.
  • Gridcoin,
    while energy-efficient, is the first and only cryptocurrency that rewards individuals for scientific
    contributions and performs transactions peer-to-peer cryptographically – without the need for a
    central authority to distribute rewards.
  • Gridcoin (also referred to by the symbol GRC) is one of over 1600 cryptocurrencies that currently exist as digital assets that can be traded, with many of them available for exchanging with traditional forms of currency, which include US dollars.
  • Gridcoin is built on the Bitcoin protocol but is distinct from Bitcoin because it can be easily mined with consumer-grade hardware, so special ASIC mining chips are not likely to be changed in the future.
  • Gridcoin was officially launched October 16, 2013 by its pseudonym developer Rob Halförd.Like most cryptocurrencies, Gridcoin works without the intervention of a third party organization.[4]
  • Gridcoin uses four branches to ensure stability without slowing down
    the pace of the daily development activities – development, staging, master
    and hotfix.
  • Blockchain



    It is estimated that bitcoin is using approximately 23,312 megawatt hours per day of electric for block solving algorithms.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.


    As a volunteer, you would need to download and install Gridcoin wallet and BOINC, plus sign up on the project’s website(s) you want to contribute to.Here are three examples:There are currently 19 scientific projects supported by Gridcoin [14].


    Gridcoin is a decentralized, open-source, math-based digital asset (cryptocurrency).Gridcoin provides benefits to humanity through contributions to
    computational research.It is the first block chain protocol that delivered a
    working algorithm that rewards and cryptographically proves solving BOINC (Berkeley Open
    Infrastructure for Network Computing) hosted work, which could be virtually any kind of
    computing process.The wallet and it’s config file is stored in %APPDATA%\GridcoinResearch.There are no limitations to a single BOINC project, providing the
    flexibility to be rewarded for virtually any type of computational process.

    How to get rewards using Gridcoin?

    The only active pool at this time is grcpool.

    How do I buy Gridcoin?

    It is not possible to buy all cryptocurrencies with U.S.dollars.Bitcoin, Bitcoin Cash, Ethereum, Litecoin and other popular cryptocurrencies can be purchased with U.S.dollars using Coinbase or BlockFi.Once you have purchased Bitcoin using Coinbase, you can then transfer your Bitcoin to an exchange such as Binance to purchase other cryptocurrencies, including Gridcoin.

    What is Gridcoin?

    GridCoin (GRC) is a coin with a mission – to compensate miners for participating in BOINC projects.The coin is a scrypt altcoin with difficulty retargetting every 30 minutes – a 2.5 minute block target and a hard cap of 168 million.Gridcoin introduces a Proof-of-Research algorithm that gives computers something productive to do.Instead of racing to solve meaningless equations, Gridcoin miners Researchers work on problems such as finding cures to diseases, mapping genomes, or climate studies, and are compensated for their work.Gridcoin is not limited to any one program, algorithm, or type of hardware.BOINC supports Windows, Mac OS X, Linux, and Android.

    What are the Gridcoin Listings?

    The Gridcoin listings were created to provide fair rewards, increase security and to focus user’s resources on active projects.The essence of the listing processes are that projects must meet certain requirements regarding work availability,
    fair distribution of work and security.

    Do rewards accumulate between Staking?

    If I stake every 3 days, would that mean that on the 3rd day I would get 3x worth of daily rewards, or just a single day’s worth? Thanks
    submitted by /u/chriscambridge [link] [comments]..

    How to buy GridCoin (GRC) from above-listed exchanges?

    Step 1: Click on Buy GridCoin (GRC) from Exchange button.Step 2: You will be redirected to the exchange.Step 3: Sign up if you do not have an account with that exchange else log in.Step 4: See if the exchange support fiat currency or cryptocurrency or both.Step 5: Deposit the currency it supports and buy the currency you want.

    Do you need to run the Gridcoin Wallet on the same computer when BOINC is running?

    There seems to be a few different opinion on this, therefore I thought it would useful to find out for sure.If any experts can provide advice and information on if you need to run the Gridcoin Wallet on the same computer where BOINC is running, or not – that would be most useful.submitted by /u/chriscambridge [link] [comments]..

    Not interested in earning BOINC rewards?

    Switch to the Non-Cruncher guide.You do not need to install or run BOINC in order to use GRC as a cryptocurrency.

    What Makes Gridcoin Different?

    Gridcoin is used not just strictly for generating more of its currency, but also to promote research in science, math, and related academic fields of study.Gridcoin is associated with the Berkeley Open Infrastructure for Network Computing (BOINC) project sponsored by the University of California-Berkeley.

    Are all projects experiencing explosive growth in points generated?

    I don’t follow my BOINC/GRC activity all that closely, often checking in once a week or so.I also CPU crunch while I leave my GPC working on other projects so I don’t expect large rewards coming in.A few months ago I saw my magnitude drop down to about 30% of what it was in a short period of time.That has happened again and I am down to about 10% of the magnitude I was at in the beginning of the year.The first time I thought that just meant more competition, so cool, science wins in the end…

    What is the value of Gridcoin?

    One Gridcoin (GRC) is currently worth $0.01 on major cryptocurrency exchanges.You can also exchange one Gridcoin for 0.00000019 bitcoin(s) on major exchanges.The value (or market capitalization) of all available Gridcoin in U.S.dollars is $4.61 million.

    Anyone running AMD Radeon Instinct MI100 GPUs on Milkyway, and if so what kind of speeds are you getting?

    submitted by /u/chriscambridge [link] [comments]..

    What hashing algorithm does Gridcoin use?

    Gridcoin is a DPoR coin that uses the ProofofResearch algorithm.

    What do you think about the Gridcoin today?

    Let us know by clicking the given button.

    Why Should I Buy GridCoin (GRC)?

    GridCoin is a cryptocurrency that is identified by the symbol GRC.

    What is Gridcoin?

    GridCoin is a new Internet cryptocurrency based on peer-to-peer technologies, to bring humanity some real benefits by compensating coin miners for participation in BOINC projects with GRID tokens.This can lead to progress in medicine, biology, mathematics, science, climate technology and astrophysics, all done by focusing a large percentage of computing power on BOINC research – rather than generating an unnecessary amount of computational energy for mining.

    What is GridCoin Wallet?

    GridCoin is built on top of a large network of computing devices, BIONC (Berkley Open Infrastructure for Network Computing), which is not limited to any single algorithm, program or hardware.GridCoin comes up with Proof-of-Research algorithm that gives the computers something meaningful and productive to do instead of racing to solve meaningless equations.The GRC researchers work on problems like curing diseases, studying the climate, or mapping genomes.BOINC supports Windows, Linux, Mac OS X, and Android.You don’t need special hardware to earn rewards and participate for your contributions to research.The intended use cases for GridCoin include research for curing incurable devices like Cancer, AIDS, Alzheimer's, etc.GridCoins are worth at least as much as the electricity being consumed for the research payments.

    Don’t Want BOINC rewards?

    Switch to the Non-Cruncher guide.You do not need to install or run BOINC in order to use GRC as a cryptocurrency.

    Will the FED Decision Increase Bitcoin Price?

    Cryptocurrency markets have been in major downtrend in recent days.Bitcoin and other cryptocurrencies also dropped similarly, after the US index indicators experienced the largest daily sales years later.

    What is BOINC?

    BOINC is an open source platform for volunteer computing that lets individuals use their computers & phones to help science research.It is free to use and already home to 30+ projects over a range of scientific disciplines.Examples include protein structure prediction ([email protected]), mapping the Milky Way galaxy ([email protected]), and tackling problems in public health and clean energy (World Community Grid).

    What is Gridcoin?

    The Gridcoin platform creates a supercomputer-like environment by combining every user’s computational power on the network.This computational power is then used by researchers to further their studies.Current projects span the spectrum of science from mapping protein development in humans, to mapping the entire Milky Way galaxy.

    What is BOINC?

    The Berkeley Open Infrastructure for Network Computing (BOINC) is an open-source distributed computing infrastructure which
    provides anyone with data the opportunity to process that data for near zero cost by utilizing a global volunteer-base
    distributed computing network.BOINC hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and data from the Large Hadron
    Collider, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists.

    What is BOINC, you ask?

    BOINC is a platform for decentralized high-throughput computing, i.e.a large number of autonomous computer-intensive jobs, where the output goal is a high rate of work fulfillment rather than a small turnaround time from individual jobs or crypto mining.It also provides low-level data processing mechanisms.The server distributes jobs while the system is operates worker nodes.

    What is Gridcoin?


    What is GridCoin?

    An open source cryptocurrency which securely rewards volunteer computing performed upon the BOINC platform in a decentralized manner on top of proof of stake.

    What is GridCoin?

    Gridcoin is a cryptocurrency which rewards volunteer distributed computation performed on the BOINC platform on top of Proof of Stake.

    Where can I get Gridcoin wallet?

    Gridcoin produces its own wallet software that is available for download on its website, which allows you to store Gridcoin on your computer.For maximum security, you can store your cryptocurrencies on a dedicated hardware wallet such as a TREZOR wallet or a Ledger Nano X.If you do not wish to buy a hardware wallet, you may consider using a mobile wallet such as Atomic Wallet, Jaxx, or Coinomi to store multiple cryptocurrencies with some added security benefits.

    What is Gridcoin?

    Gridcoin is a POS-based cryptocurrency that rewards users for participating on the BOINC network.Gridcoin uses peer-to-peer technology to operate with no central authority – managing transactions, issuing money and contributing to scientific research are carried out collectively by the network.

    What is Gridcoin?

    GridCoin is a new 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.

    What is Gridcoin?

    Gridcoin is an open source cryptocurrency (Ticker: GRC) that rewards volunteer computing for science through the BOINC platform.

    What is Gridcoin?

    Gridcoin is a protocol that uses blockchain technology and that allows useful scientific computations in BOINC, its operation is similar to that of Bitcoin, that is, it is a peer-to-peer cryptocurrency that is accepted as electronic money.

    What is Gridcoin?

    Gridcoin is an open-source blockchain that rewards the processing power a distributed computing network participant
    directs toward data-driven analysis and scientific discovery.This is accomplished by minting and distributing a
    cryptocurrency that is secured through a proof-of-stake protocol and monitors processing contributions to the
    distributed computing infrastructure, BOINC.

    What is Gridcoin?

    Gridcoin was created on October 16, 2013 by a software developer who uses the pseudonym Rob Halförd.

    What is the Reddit page for Gridcoin?

    The official Reddit community (subreddit) for Gridcoin is r/gridcoin.

    What is the main point of using GridCoin?

    It has been calculated that bitcoin uses electricity for block solving algorithm for an average 23,312 megawatt hours per day.The Gridcoin project aims mainly to transfer computer power to Boinc ventures, while mining operations are a second priority–so that Boinc use is tandemed to scale up the network.

    What is Gridcoin?

    On 16th October 2013, Gridcoin was officially invented by pseudonym Rob Halford (developer).Like other cryptocurrencies, Gridcoin (GRC) is an open-source decentralized digital currency that rewards volunteer computing (BOINC projects) securely.BOINC is a volunteer computing grid that combines individual users’ processing power for scientific research.BOINC is production ready, free, and plenty of projects already use volunteered computing power in order to cure Malaria/Ebola/AIDS/Cancer and also to break Enigma machine codes.In case, you need a large free amount of computing power, then you can be made a BOINC project.Then, Gridcoin network will reward the potentially active userbase for improving userbase retention and offset electricity bills.There are numerous BOINC projects, such as Ebola for them Gridcoin rewards computing power.Similar to Bitcoin, newly minted Gridcoin are given out on regular basis.However, Gridcoin works on Proof of Stake algorithm.So, users get PoS reward as per the research was done by you in comparison to fellow researchers.Gridcoin supports blockchain-based system that allows users to participate and stay updated with further consensus.An ideal way to invest in Gridcoin (GRC) is first research, visit its official page, and watch tutorials for pool-mining and solo-mining.

    Why Atomic is the best choice for your Gridcoin assets?

    In Atomic, only you have full access to your funds.Atomic Wallet uses on-device intelligence and stores all private keys on your computer or/and smartphone.Your privacy is well-protected with the password you set and a 12-word mnemonic seed phrase.Atomic is a decentralized wallet for crypto management, all your keys never leave your device.Funds are secured and encrypted.Your private keys never leave your device.Built-in exchange and multi-blockchain support.

    History of GridCoin