About

Gridcoin is a blockchain and cryptocurrency that rewards individuals for contributing to computational research in various academic fields

History

Gridcoin was launched on October 16th, 2013 by Rob Halförd. The original Gridcoin protocol (now referred to as Gridcoin-Classic) was replaced in 2014 with the current Gridcoin protocol (Gridcoin-Research).

Gridcoin is an open-source blockchain that monitors The Berkely Open Infrastructure for network computing while using a proof of stake system to reward and incentivize computational contributions to the network. The Gridcoin protocol mints and distributes GRC (token in the Gridcoin ecosystem) to participants in the network. The network promotes data-driven analysis and scientific discovery as the computation resources of the network are free for any project with data to process. The Gridcoin network currently contributes 18.8% of Boinc’s 24 petaFLOPS of processing power.