Gridcoin (GRC) is a decentralized, open source, math-based digital asset. Gridcoin was launched on October 16th, 2013 by Rob Halförd.
Gridcoin uses peer-to-peer technology to operate with no central authority. Managing transactions, issuing money and contributing to scientific research are carried out collectively by the network.
Gridcoin provides benefits to humanity through contributions to computational research. The coin compensates the researchers for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, particle and astrophysics. Blockchain compensates researchers for contributing computational power towards BOINC research using an energy-efficient Proof-of-Stake process, instead of generating heat and using computational power for a Proof-of-Work algorithm.
Gridcoin differs from other scientific cryptocurrencies in its ability to support many different kinds of scientific projects and is only limited by what is currently broadcast over the BOINC network, and the project whitelist decided upon by community consensus. Gridcoin performs transactions peer-to-peer cryptographically without the need for a central authority to distribute rewards.
Berkeley Open Infrastructure for Network Computing (BOINC) is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. It uses the idle time on computer's CPU and graphics cards on Windows, Mac, Linux, or Android to cure diseases, study global warming, discover pulsars, and do many other types of scientific research.
It's safe, secure, and easy.
If you require a serious amount of distributed computing power for free, you can easily create a BOINC project and the Gridcoin network can potentially reward your active userbase to help offset their electricity bills and improve userbase retention. It is distributed under the LGPL open-source license and it is a community-based project. Everyone is welcome to participate.