en
RSS
Soon
Soon
Soon
Soon
GridCoin

GridCoin (GRC)

$ 0.01
0.21 %
Main info
News
Comments
Markets
Analytics
Market cap
$3.78M
0.21 %
Volume (24h)
$830.77
0.21 %
Total supply
459,382,131 GRC

About GridCoin

Gridcoin is an open source cryptocurrency (Ticker: GRC) which securely rewards volunteer computing performed on the BOINC platform.BOINC is an open source volunteer computing grid which combines the processing power of individual users for the purposes of scientific research. It is free to use and already home to 30+ projects spanning a range of scientific disciplines. Examples include protein structure prediction (Rosetta@home), mapping the Milky Way galaxy (Milkyway@home), and tackling problems in public health and clean energy (World Community Grid).

Key data

updated $0
Market cap$3.78M
Volume 24h$830.77
All-time high$0.21-97% from peak · 2018-01-08

GridCoin (GRC) is a cryptocurrency that rewards people for contributing computing power to scientific research through the BOINC platform. Instead of wasting energy on meaningless math puzzles like classic mining, your machine helps projects in medicine, astronomy, climate science and other fields — and gets GRC for it. In short, it's a coin where mining actually does something useful.

Frequently asked questions

What is GridCoin and how is it different from Bitcoin?

GridCoin is a mineable cryptocurrency with the ticker GRC that pays users for doing real scientific computations via BOINC, rather than for solving arbitrary hashing puzzles. This makes it far more energy-efficient in terms of useful output than proof-of-work coins. It's been around since 2013 and is one of the earliest 'science-backed' cryptocurrencies.

How does GridCoin's consensus mechanism work?

GridCoin uses a mechanism called DPoR — Proof-of-Research. It combines proof-of-stake for securing the blockchain with proof-of-research, which measures how much BOINC work each participant contributes. Your staking weight grows with the amount of research you do, so the network rewards actual scientific output.

How is new GRC created?

New coins are issued as rewards for two activities: running BOINC research tasks and staking blocks on the network. The reward for research depends on how much work you contribute to whitelisted projects, while staking payouts go to coin holders who help secure the chain. There's no pre-mined supply dumped on the market — distribution happens through participation.

How can I store and use GRC?

GRC is stored in the official GridCoin wallet, which doubles as your BOINC connection hub — you link it to your BOINC account to start earning research rewards. The wallet is available for Windows, Linux and macOS from the official site gridcoin.us. Beyond holding and staking, GRC trades on a number of exchanges and is often used as a tipping coin within the BOINC community.