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About GridCoin (GRC)

 

GridCoin (GRC)

GridCoin (GRC)

Advancing science, mathematics, technology, and understanding the world around us.
A secure blockchain developed on the philosophy of benefiting humanity.

Proof-of-Work algorithms have been criticized for wasting energy on meaningless equations in the mining process and for centralizing transaction processing by encouraging a specialized hardware arms race.

 

Gridcoin introduces a Proof-of-Research algorithm that gives computers something productive to do. Instead of racing to solve meaningless equations, Gridcoin miners Researchers work on problems such as finding cures to diseases, mapping genomes, or climate studies, and are compensated for the work they do.

Gridcoin rewards you for doing real work. Our goal is to divert computing power from wasteful hashing to productive computing, creating a supercomputing cluster that supports all kinds of scientific investigation and technology development. Access to supercomputers has traditionally been restricted to large research universities and corporations. By creating a large network of computing devices, complex computations once out of reach for most researchers are now possible.

The Berkeley Open Infrastructure for Network Computing (BOINC), an open computing platform that supports all kinds of hardware and adapts as technology changes, has been providing distributed supercomputing since 2002, but until now the network was limited to those willing to contribute their resources on a volunteer basis. A few cryptocurrencies have attempted to create a compensation mechanism to increase participation in research, such as Ripple, Curecoin, and Research Support Coin, but these have used a centralized model for determining reward distribution and selecting research topics. Gridcoin lets you decide what to research, and pays you for your research.

Gridcoin is built on top of BOINC and is not limited to any one program, algorithm, or type of hardware. BOINC supports Windows, Mac OS X, Linux, and Android. You don’t need special hardware to participate and earn rewards for your contributions to research — the computer you use for a few hours every day can contribute to CPU-based scientific projects when you aren’t using it, and you won’t waste electricity competing with GPUs or ASICs for rewards. Those with special GPU mining rigs can also participate in projects designed specifically for parallel computations and you don’t have to worry about losing your ROI to the next generation of ASICs. There are currently over 30 different projects available, each with its own hardware needs — some need CPUs, some need GPUs, and some need sensors. The diversity of hardware supported makes it possible to contribute to the network with almost any device, making it more secure and minimizing the centralization of mining power.

The reward system is designed to pay you in the same way as a pay-per-share mining pool, so you are rewarded fairly based on the work you do — not by how fast you can solve a block. The devices you can use to contribute to scientific research through BOINC include CPU, GPU, Android, R-Pi, and ASICs, with more being added all the time.

We ask for the community to join us as volunteers, developers, investors, and evangelists seeking to enable a fundamentally different paradigm for the blockchain and the benefits to humanity it can produce.

Parameters

Algorithm: Distributed Proof-of-Research, Reward based on Research contribution to BOINC secured via Proof-of-Stake
Block time: 90 Seconds
0% pre-mine: Longest distribution schedule for any Proof-of-Stake based coin with an 18 month initial distribution based on Gridcoin Classic
Initial Supply: 340,569,880
Inflation: Inflation approximately 6.5% per annum after November 2015, 1.5% interest from Proof-of-Stake, target of 18.25 million coins per year from Distributed Proof-of-Research

 

What is Gridcoin?

Gridcoin is a POS-based cryptocurrency that rewards users for participating on the BOINC network. 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.

For Gridcoin binaries, as well as more information, see http://gridcoin.us/.

Building Gridcoin

These dependencies are required:

Library Purpose Description
libssl Crypto Random Number Generation, Elliptic Curve Cryptography
libboost Utility Library for threading, data structures, etc
libevent Networking OS independent asynchronous networking
miniupnpc UPnP Support Firewall-jumping support
libdb4.8 Berkeley DB Wallet storage (only needed when wallet enabled)
qt GUI GUI toolkit (only needed when GUI enabled)
libqrencode QR codes in GUI Optional for generating QR codes (only needed when GUI enabled)

To build, run ./autogen.sh && ./configure && make. For more detailed and platform-specific instructions, see the doc folder.

Development process

The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are created regularly to indicate new official, stable release versions of Gridcoin.

Developers work in their own trees, then submit pull requests to the development branch when they think their feature or bug fix is ready.

The patch will be accepted if there is broad consensus that it is a good thing. Developers should expect to rework and resubmit patches if they don't match the project's coding conventions (see coding.txt) or are controversial.

The master branch is regularly built and tested, but is not guaranteed to be completely stable. Tags are regularly created to indicate new stable release versions of Gridcoin.

Feature branches are created when there are major new features being worked on by several people.

Branching strategy

Gridcoin uses four branches to ensure stability without slowing down the pace of the daily development activities - development, staging, master and hotfix.

The development branch is used for day-to-day activities. It is the most active branch and is where pull requests go by default. This branch may contain code which is not yet stable or ready for production, so it should only be executed on testnet to avoid disrupting fellow Gridcoiners.

When a decision has been made that the development branch should be moving towards a final release it is merged to staging where no new development takes place. This branch is purely to stabilize the code base and squash out bugs rained down from development. This is Gridcoin's beta testing phase.

Once the staging branch is stable and runs smoothly, it is merged to master, a tag is created, and a release is made available to the public.

When a bug is found in a production version and an update needs to be released quickly, the changes go into a hotfix branch for testing before being merged to master for release. This allows for production updates without having to merge straight to master if the staging branch is busy.

Community

For general questions, see the forum at https://cryptocurrencytalk.com/forum/464-gridcoin-grc/, or freenode irc on #gridcoin. We also have a Slack channel at teamgridcoin.slack.com.

License

Gridcoin is released under the terms of the MIT license. See COPYING or https://opensource.org/licenses/MIT for more information.

Build Status

Development Staging Master
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