Joined: 5 Oct 14
Gridcoin promises to reward everybody for their BOINC work. Gridcoin is a decentralized peer to peer currency. It uses state of the art peer to peer and Blockchain technology to create a currency that is powered by BOINC computing. Currency is minted according to BOINC Project credits accumulated. Unlike BOINC credits Gridcoins can be freely traded and transacted on a Blockchain ledger, much like Bitcoin can. Gridcoin is very economical on its computing power, allowing an efficacy of 98% of normal pure BOINC crunching, and just 2% additionally needed to provide security for the decentralized Blockchain.
Gridcoin supposed to create further incentive for people to join the BOINC network and at the same time be rewarded for it. At the moemnt it is traded on 2 exchanges for a set of other cryptocurrencies, Bitcoin and US Dollar. A standard BOINC setup and the Gridcoin client is required, nothing more.
Could this decentralized project bring further incentive to BOINC and will big crunchers join the project in the prospect of some re-compensation?
Furthermore funds are in the making that will bring Researchers (Project Teams) closer to the financial and industrial sector, going as far as granting bursaries for projects to get them started and keep them online until all required crunching is done.
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