What is GridCoin?

"Gridcoin is an open source cryptocurrency (Ticker: GRC) which securely rewards volunteer computing performed upon the BOINC platform in a decentralized manner on top of proof of stake.

BOINC is an open-source volunteer computing grid which combines the processing power of all individual users for the purposes of scientific research. It's free, production ready and many projects already harness volunteered computing power to attempt to cure cancer/AIDS/Ebola/malaria, map the Milky Way galaxy, crack Enigma machine codes, etc..

If you require a serious amount of distributed computing power for free, you can easily create a BOINC project and the Gridcoin network can potentially reward your active userbase to help offset their electricity bills and improve userbase retention."

- Gridcoin.us
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General

TICKER SYMBOLS
GRC
AGE
6 years old (November 03, 2013)
CURRENT PRICE
$0.006325
Updated 5 minutes ago via cryptocompare.com
CHEDDUR ALL TIME HIGH
$0.204819
Last year
CIRCULATING SUPPLY
419,421,647 coins
Updated 6 seconds ago via coinmarketcap.com
MARKET CAP
$2,652,812
Updated 5 minutes ago
CREATOR
Rob Halford

Technical

BLOCKCHAIN / LEDGER
Uses own
MONETARY POLICY
Built-in Inflation (18,250,000 coins per annum)
CONSENSUS MECHANISM
Proof of Research
MINEABLE / STAKEABLE
Yes
AVERAGE CONFIRMATION TIME
2m 30s
HASHING ALGORITHM
Scrypt
DIFFICULTY ADJUSTMENT
Every 12 blocks (~30 minutes)
1
gridcoin (GRC)
0.001
milligridcoin (mGRC)
1E-8
halford

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