Gridcoin is a blockchain-based distributed computing network powered by the idle processing potential of existing hardware. Access to this network is free for those with data to process, while participants of the network are incentivized with cryptocurrency minted by the Gridcoin protocol. Gridcoin is an open-source blockchain that mints and distributes cryptocurrency in relation to the processing power a network participant directs toward datadriven analysis and scientific discovery. Currently, the Gridcoin blockchain is secured through a proof-of-stake protocol and monitors processing contributions to the distributed computing infrastructure, BOINC.1 BOINC, the Berkeley Open Infrastructure for Network Computing, hosts major institutional computing projects such as IBM’s World Community Grid,2 SETI,3 and data from the Large Hadron Collider,4 alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists.
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