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.

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