Tonight! on the Gridcoin Fireside -- Wealth Distribution in Cryptocurrencies; Project brief: yoyo@home

jringo (63)in #gridcoin • 5 years ago (edited)

The Gridcoin Fireside

Tonight! August 8th at 8:00pm EDT

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The Gridcoin Fireside is a participatory podcast brought to you by the Gridcoin community. It is intended to introduce and explore DLT, cryptocurrency, and crypto-economics from a science oriented perspective.

The audience is welcome to participate through voice-comms or via the discord text chat.

Join us every Thursday at 8:00pm EDT on the Gridcoin discord server.

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Tonight!

Wealth Distribution in Cryptocurrencies

The Gini coefficient is a measurement of wealth distribution in an economic network. A high coeffecient means wealth is centralized. A low coeffecient means wealth is distributed.

Cryptocurrencies and tokens are each their own economic network. It is difficult to measure the Gini coefficient in cryptocurrencies, but we can certainly explore the principles of the metric.

From Bitcoin to Ethereum to Gridcoin, from open access to pre-mines to ICOs, each cryptocurrency and token had a unique method of initial distribution.

As the space continues to evolve, more attention is being given to these methods of initial distribution along with a currency's method of continued distribution.

Tonight we explore these methods of initial distribution, their effects, their rationales, and the methods of monetary distribution over time.

Here are two resources to help set the mood.

Bitcoin Wealth Distribution
Brief Discussion on Ethereum's Wealth Distribution

See you soon!

Gridcoin Discord

Project brief: yoyo@home

This week @delta1512 introduces us to math.

yoyo@home is a mathematical project that aims to solve problems in number theory through "brute forcing". One of the problems it is working on has close correlation to internet security whereas others have some real-world applications.

To learn more, check out the project brief post linked above, or join us live tonight on The Gridcoin Fireside.

What is Gridcoin?

Gridcoin is a multi-incentive permissionless blockchain initiated in 2013. It mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data-driven analysis and scientific discovery, as well as through a proof-of-stake reward mechanism. The Gridcoin blockchain monitors processing contributions to the Berkeley Open Infrastructure for Networked Computing (BOINC). BOINC hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and CERN, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists. Access to Gridcoin's computation resources is free, while computation contributors are incentivized with cryptocurrency minted by the Gridcoin protocol.