What is Gridcoin Research (GRC)?
Gridcoin Research, or GRC, is an open source decentralized blockchain based cryptocurrency that relies on a mathematical algorithm. By far, GRC is the first ever blockchain protocol that offers a fully operating algorithm that fairly rewards and cryptographically validates solving of BOINC (Berkeley Open Infrastructure for Network Computing) work, which technically can be any form of distributed computational processes.
BOINC represents an open source computing grid setup and operated by volunteers. This computing grid combines all the computing power of all participating users in order to solve computational problems related to scientific and academic research. It makes use of processors’ and graphic cards; unused clock cycles in order to cure aids, cancer, malaria, ebola…etc; decipher enigma codes; map the milkyway galaxy…etc. GRC is designed to incentivize those who volunteer their computing power to BOINC computation via the Distributed Proof of Research (DPOR) incentivizing mechanism, which represents a combination of Proof-of-stake (PoS) and Proof-of-BOINC (PoB)
Proof-of-work (PoW) consensus schemes are not utilized in Gridocin’s network, rendering Gridcoin a cryptocurrency which is way more efficient than any other present PoW cryptocurrency. As such, GRC current price does not represent an overestimation of the real value of the coin. Instead, it means that the market is just beginning to realize the real value of GRC.