Gridcoin (GRC): The Mechanism of Science and Progress

cryptocica (50)in #cryptocurrency • 6 years ago

Gridcoin is a cryptocurrency designed for the benefit of humanity. The idea of Gridcoin was public in October 2013, but it was brought to a ready implementation for a very long time. The system is probably still far from perfect, but it is already working more or less stably.

For sure there are people who working for voluntary distributed computing system using the BOINC platform (an open software platform of the Californian Institute of Berkeley). The point is that you are providing the unused power of your computer to the aid of modern science.

One way or another, people have been counting and using their computers for years - for free. So why not now receive compensation for their labor costs? After all, electricity bills will not be paid. But for Gridcoin (GRC) you already can receive real money on the stock market. More precisely, for GRC you can receive BTC, and already BTC can be exchanged for USD or EUR.

The beauty of Gridcoin is that the useless mining in it is replaced by the solution of real problems. For example, it is necessary to process images from an automatic observatory, calculate the tertiary structure of a protein, or simulate the work of the heart according to ECG data. All these practical problems are solved on ordinary computers in the background without user interaction, and virtual coins are charged for them.

So, developers of the open source cryptocurrency Gridcoin began to pay for voluntary calculations, which radically changed their attitude to the process. From their presentation, participation in distributed computing ceased to be pure altruism.

Recently, given the increased public interest in science in general and in distributed computing in particular, the BOINC platform is still far from its likely potential. Now consider a means to increase this potential. You have probably heard about Bitcoin based on the Proof-of-Work algorithm and how much computing power is involved in calculating hash-rate, transaction confirmations, searching for numbers with special properties, etc. Huge electricity costs aimed at simply maintaining the network in working order.

An alternative is the Gridcoin network, directing the power of its network to scientific research with its Proof-of-Research algorithm (POR), in conjunction with BOINC. The idea of the project is: participating in projects such as SETI (Search for Extraterrestrial Civilizations), ROSETTA (calculating the structure of the protein, in the future will help to cure some genetic diseases), and similar...

World Community Grid aims to develop ways for the treatment of cancer, Ebola, Zika virus and muscular dystrophy), as well as performing calculations for the Hadron Collider, searching for various projects from the field of mathematics, physics, biology...

The network itself generates and distributes coins (GRC) mong calculations participants. And everyone in the network gets what they came for.

And while cryptocurrencies are experiencing a boom, scientists from around the world are experiencing deficiencies in computing power and fortunately, you can help science in finding and developing answers for the treating cancer, malaria, various genetic diseases, or assist in calculating the trajectories of asteroids, drawing up detailed maps of our galaxy...

Sounds fantastic! Everyone is useful. There are no restrictions for participation, here everyone can choose a project, and Gridcoin will reward you for your efforts!