What is Gridcoin? Gridcoin (GRC) is an open source cryptocurrency that rewards volunteer computing for science through the BOINC platform. cryptocoin.com In this article, we have answered the questions frequently asked by investors such as what is BOINC, what is Gridcoin, what is GRC and how to get it. Let’s examine together this project, which was launched to support scientific research.
What is BOINC?
There is the BOINC project behind Gridcoin (GRC). BOINC is an organization to support scientific studies. The organization provides decentralized computing power to scientific projects. Those who share computing power with the organization receive GRC awards. Any scientific project with data to be processed can freely access the platform.
What is Gridcoin?
Gridcoin (GRC) is a cryptocurrency created to reward those who join the BOINC voluntary computing network. This cryptocurrency is completely open source and works through Blockchain technology. Grid is basically a computer network owned by individual users. This network acts as a kind of supercomputer to process data for scientific research. Users who want can provide support with their own computers by joining the network. Therefore, the network operates in a completely decentralized manner.
Users who participate in the Grid ecosystem voluntarily offer the processing power of their computers to the use of the platform. The processing power of thousands of computers works to solve complex problems. This allows the work of a supercomputer to be done in a short time, decentralized and cost-effectively. As a result, scientific research costs less. In addition, research progresses safely and quickly thanks to Blockchain technology.
What does GRC do?
GRC is a cryptocurrency awarded to users who donate computing power to the Grid network. With this altcoin, which has its own Blockchain network, users can earn income. Accordingly, a user helps to perform complex scientific calculations by joining the network with his computer. In return, he receives Gridcoin. GRC can be traded on cryptocurrency exchanges. In other words, users passively earn income with their own computers. In return, they support scientific research.
GRC works with the Proof-of-Stake consensus mechanism. So it is an altcoin that can be staked. Those who stake their cryptocurrencies take place in the network as validators. Staking acts as the key for new token rewards. The project is extremely environmentally friendly as it uses the PoS model. Accordingly, users support scientific research and generate income with almost no harm to the environment.
What is Gridcoin? How to get GRC?
Gridcoin is currently listed on Txbit and SouthXChange exchanges. Investors wishing to purchase the token must access and become a member of one of these exchanges. Users who do this can purchase cryptocurrency by depositing funds into their wallets.
