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Gridcoin Research Released!
Mandatory Upgrade: 3.6.0.2

https://cryptocurrencytalk.com/topic/1331-new-coin-launch-announcement-grc-gridcoin/?page=1318#comment-402933

Leisure Upgrade: 3.6.1.0

 

https://cryptocurrencytalk.com/topic/1331-new-coin-launch-announcement-grc-gridcoin/?do=findComment&comment=405755

Official Website:  http://www.gridcoin.us

 

 

Gridcoin Research is listed on  Poloniex, Bittrex, BitShares, C-CEX, and more.


 

GRIDCOIN - GRC

Gridcoin (The environmentally conscious coin)

GridCoin is a new peer-to-peer internet based cryptocurrency that aims to provide real benefits to humanity by compensating the coin miners for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics by concentrating a large percentage of the computational power towards BOINC research - instead of generating unnecessary heat and wasted power for the proof of work algorithms required to keep the coin network running.

It is estimated that bitcoin is using approximately 23,312 megawatt hours per day (see electric consumption at blockchain.info/stats (24 hour stats)) of electric for block solving algorithms.

The aim of the Gridcoin project is to shift the computational power primarily to BOINC projects while the mining operations become a second priority - so as the network is scaled up, BOINC utilization is scaled up in tandem.

The coin miners will be rewarded with a small token subsidy if they fail to mine BOINC shares, but a much larger subsidy when mining with BOINC.

This digital cryptocurrency allows instant peer to peer transactions, worldwide payments and very low processing fees. The source code is open source and allows everyone to take part in the success of the currency.

Gridcoin is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware, therefore is not as likely to be replaced by specialized ASIC mining chips in the future.

Gridcoin provides faster transaction confirmations (2.5 minutes on average) and uses memory intensive scrypt-based proof-of-work algorithms to verify transactions.

OFFICIAL WEBSITE:
http://www.gridcoin.us

 

TOP-TIER SUPPORTER WEBSITES:

http://gridcoin.io

 

WHITEPAPER:

http://www.gridcoin.us/assets/img/gridcoin-white-paper.pdf

 

CONTACT:
contact@gridcoin.us

SPECIFICATIONS:
Block reward: Variable
Total coins: ~168 million (est.) 

 

DOWNLOADS:

 

Windows:
http://www.gridcoin.us/download/gridcoin.msi

 

Linux:

http://wiki.gridcoin.us/Linux_Downloads_(pre-compiled)

 

Mac:

http://wiki.gridcoin.us/OS_X_Guide

Windows BOINC:
http://boinc.berkeley.edu/download.php

 

LINKS:

 

Gridcoin Wiki:

http://wiki.gridcoin.us

 

BOINC Projects List:
https://boinc.berkeley.edu/projects.php

 

Gridcoin Whitelist:

http://wiki.gridcoin.us/Current_BOINC_Whitelist

 

Source Code:
https://github.com/gridcoin/Gridcoin-Research
 

MINING POOL:
https://www.grcpool.com/

 

EXCHANGES:

https://poloniex.com/exchange/btc_grc

https://www.bittrex.com/Market/Index?MarketName=BTC-GRC

https://bitshares.org/wallet/#/market/OPEN.GRC_OPEN.BTC

https://c-cex.com/index.html?p=grc-btc

 

BLOCK EXPLORER:
http://explorer.gridcoin.asia

 

MINING SUPPORT:

Solo GPU Mining Tutorial: - https://bitcointalk.org/index.php?topic=403734.0

 

OTHER NOTES:

Gridcoin officially launched October 16th, 2013 @ 11PM. 
Miners were notified one week in advance that we would start over on a new port during go-live so that no one could pre-mine.

The code contains all of Litecoin's security features.

What makes Gridcoin different?  Gridcoin requires miners to mine with BOINC running (http://en.wikipedia.org/wiki/Berkeley_Open_Infrastructure_for_Network_Computing) and aims to benefit humanity by providing real value while mining instead of generating heat and wasting electricity.

There are a few technical considerations, to make this coin successful.

1) You must mine against the loopback address.  Gridcoin will let you mine against  a pool of addresses that are not loopback IPs, using a standard version of cgminer, with scrypt, with Litecoin settings, but you will only receive a 5 GRC subsidy instead of the variable subsidy.
2)When you mine with cgminer against the loopback address with BOINC running, the Gridcoin server will award a higher calculated subsidy to the miner.
3) Video cards are supported, but BOINC must be running to receive the higher subsidies.
4) To start with BOINC, download BOINC separately, add a few projects that you are passionate about and run that program separately.
5) Gridcoin measures your average contribution towards BOINC projects and in comparison with the average contribution of the whole Gridcoin network calculates your reward accordingly. It will not provide a higher subsidy unless all of the checks and security requirements are met.

The coin miners are rewarded with a small token subsidy if they fail to provide BOINC credits, but a much larger subsidy when mining with BOINC.

This digital cryptocurrency allows instant peer to peer transactions, worldwide payments and very low processing fees.

The source code is open source and allows everyone to take part in the success of the currency.

About the Berkeley Open Infrastructure for Network Computing grid:

BOINC is an opensource volunteer oriented computing grid that combines the processing power of all of the distributed PC's to concentrate on important projects.

It's free, and harnesses the unused clock cycles from PC and Video cards to aid in the research for the project goal.
http://boinc.berkeley.edu/
http://en.wikipedia.org/wiki/Berkeley_Open_Infrastructure_for_Network_Computing

Some of the major projects that you can participate in:
 
* Cancer research to help find cures for cancer and schizophrenia
* Rosetta@Home: 3 dimensional protien modeling, HIV, Cancer, Alzheimers
* World community grid: Various projects including researching strains of rice for regions where hunger is a concern
http://www.worldcommunitygrid.org/research/rice/overview.do
* Malaria control
* Alzheimers and Mad cow research
* DNA Sequencing, Microorganism identification, Bird flu research, protien docking algorithms, molecular biology, evolution research
* Nanotechnology research to find new molecular materials
* Large scale protien structure prediction, understanding diseases and pathologies
* Quantum chemistry
* Discovery of new drugs
* Microgravity and microfluid research
* Search for Neutron stars
* Particle accelerator research
* Cryptographic research
* Search for extraterrestrials
* Creating better weather models, predicting the weather



FORUMS:
https://cryptocointalk.com/topic/1331-new-coin-launch-announcement-grc-gridcoin/page-23#entry9804
https://bitcointalk.org/index.php?topic=324118.0

Edited by NeuralMiner
Updating. New mandatory/leisure versions, removed references to Classic. Updated logo.
Sagy, blacksnoopy and big_swifty like this

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Good point, I think it would be appropriate to launch the coin on October 17th right around the time the debt ceiling decision is being made.

I put a warning on the homepage explaining that the block chain is being reset on the 17th for the official launch.

In the mean time, miners will need the mining instructions to get started with cgminer - the document is almost ready.

 

I just pushed the source code to GIT and updated the links on the home page.

 

Rob

 

HA!  Nice timing.  Though, I doubt the decision will be made by that date.  I believe that's the cut-off date of when a decision has to be made or the gov will default.  I seriously doubt that Congress will make a decision by that date.  I don't know why Obama just doesn't order The Mint to issue a Trillion Dollar coin?  I'm not for the idea, but man would it make great headlines.


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Posted Image

 

When mining with gridcoin-qt, you will be able to go to the Mining Module by clicking the Mining menu button.

 

From here, you will be able to verify the boinc utilization level to ensure you receive the highest subsidy as a miner.

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This sounds like a cool project.  The code originally developed for help with the SETI project.  I heard the 'protein folding' projects did not have a solid verification system to verify the work submitted (at least at one time) . I will review your document when I have time.  I would suggest posting a non pdf form of it somewhere if possible.  Some of us like to remain anonymous and pdf files need to be handled with care to do so. :-)

Here is a shortcut to the mining document:

http://www.gridcoin.us/download/GridCoinMiningInstructions.pdf

big_swifty likes this

Mine 6 coins at once including my coin Photon NOW !! 6X your hash power http://ny2.blakecoin.com/

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Hey Ocoin,

Thank you for your wishes and I agree with you for the most part, in that bitcoin and litecoin serve the majority of the public need for a cryptocurrency, and its very hard to come up with something outside of the norm that adds any value.  I thought if primecoin would have actually solved and stored large primes it might be helping mathematics but it has an upper limit prime range.

 

That being said one has to support a stable and secure code base and a lot of developers contributed to getting btc and ltc to where they are today.

 

The deal is if you have an untested algo, is everyone going to trust their money on it?  That's why we started with LTC code base.  I don't think its fair for all these asic imports to disrupt the  btc market as they will in the next few months- of course that will level off with the 18nm die limit around mid 2014 or end of 2014.  And I like the better security of scrypt.  So gridcoin is 100% compatible with scrypt, and the LTC blockchain as related to wallet verification and getblocks and new blocks.  The novel part of grc is that the subsidy is based on the boinc utilization.  So, there is no security concern with grc.

 

Have a good one.

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Rob,

 

While you are lining all your ducks in a row, it would be great if you'd also work with sites or service providers (even non-profit ones!) who would accept your new coin. That would definitely increase the value and the interest for the currency.

big_swifty likes this

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Tranz-

 

Sorry bout that, there were quite a few gitignore flags in the folders.  I removed them and uploaded again.  All you need is the standard libs directory, as you would expect.  I verified that it does build from git now.

 

All the best.

Great! I'll play around with this in the next few days.

 

And just for your information. I will be looking for an exploit against getting the higher reward without running Boinc. If I find any I'll let you know.

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Tranz,

 

Thanks - glad your testing for exploits.  I think we will have a pretty solid client, the harder the better.

 

Regarding erasing the block chain-- I think there are a couple ways to look at it.  We will probably have to take your suggestion and have a release with a new genesis block, just in case, so we do a hard fork from the old version and chain.  This will probably be a good time for me to include any of the latest changes, such as attack prevention from non boinc users and an installer.  Once that is out there with the new genesis we should all start testing on testnet until the go live.  The other way is to have everyone erase their wallet, but since I cant control that we will probably have to go with the new genesis.

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Some exciting activity today:

www.gridcoin.us

 

1.  The video is up.

2.  The MSI is available for download, so there should be less problems installing the program.  We will still post zips for all tech users.

3.  Code has been added to prevent megahash miners (>4 cards per machine) from hogging the network and changing the difficulty for boinc users.  Basically, gridcoin rpc will stop supplying getwork if you solve too many blocks during a certain duration.  The program does give access back after the wait period (the duration is the remainder of the calculated time that it should have taken to solve that block).

 

Grid

 

Were working on :Services to be offered to make the coin useful

Potentially hashing an extra boinc block hash inside each coinbase block (this is a PoW check to show the boinc md5 checksum, the boinc utilization, and some other things that change, to prove subsidies > 5 were warranted).

Getting the new genesis block ready for the go live

big_swifty likes this

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I am curious about this gridcoin.

 

I found this link:  boinc.berkeley.edu

 

I am wondering what it means to have Berkeley university involved with gridcoin?

 

I am also new to crypto-coins, and considering trying my hand at mining.

 

I have an nvidia graphics card currently, but I have read its not good for mining.

I have read that I should get an AMD ati graphics card because it works better.

 

But what do you think I need to get started with mining gridcoins?

 

Thank you


Bitcoin, Crypto etc...

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I am curious about this gridcoin.

 

I found this link:  boinc.berkeley.edu

 

I am wondering what it means to have Berkeley university involved with gridcoin?

 

I am also new to crypto-coins, and considering trying my hand at mining.

 

I have an nvidia graphics card currently, but I have read its not good for mining.

I have read that I should get an AMD ati graphics card because it works better.

 

But what do you think I need to get started with mining gridcoins?

 

Thank you

 

I agree, it would definitely be nice and interesting to have Berkeley recognize Gridcoin and actually work with it to make it even better.

 

Anyways, I've only been mining with AMD cards so I'm not sure how to mine with Nvidia. Below is a link to CUDA miner which I guess is currently the best thing to use if you're restricted to mining with Nvidia. There's a README.txt with instructions I think in the .zip file.

 

https://bitcointalk.org/index.php?topic=167229.0

 

Getting an AMD is really up to you. Mining isn't as profitable is it was a few months ago, so you may not get a ROI any time soon if at all. However, if you're going to mine as a hobby or if you believe Gridcoin will be prominent in the future (I'm sure hoping so, since it's unique and beneficial to the world more so than other coins), then it would be worth getting at least one decent card. If you were to get an AMD I would suggest a 5970 (cheaper) or a 7970 (if you're planning on reselling). They both get similar hashrates, though the 5970 uses a little more power. Too bad the RX 290 hasn't come out yet or that may be a good card if you planned on upgrading haha (I plan to possibly replace the cards on my main computer with them).

 

If you do end up getting an AMD, then you can use guiminer-scrypt if you want the simplest way to mine. I also use it myself because it's very uncomplicated. The link below has the thread for it with downloads and instructions. A good thing about it is it also has default settings you can select for your card.

 

https://bitcointalk.org/index.php?topic=150331.0

 

But yea, if you can get CUDA to work with your card, then you can definitely get a decent amount of Gridcoins if you get in early after the release before the difficulty jumps up. However if you don't mind investing in one of the AMD cards I mentioned, you'll definitely get a lot more for a lot longer than with an Nvidia card.


Trade at  C-CEX, a great up-and-coming exchange!

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Hey Rob, I'm trying to put together a short article better explaining Gridcoin and its specifications. I'm trying to clear some stuff to answer people's questions before they ask it though.

 

You said that the BOINC client has drivers to utilize Nvidia and AMD cards in addition to the CPU. Does Gridcoin allocate some of the hashing power from the graphics cards into BOINC? If so, what percentage does it allocate? Or is BOINC just using CPU power and sending the utilization information to the Gridcoin client? If so, are there plans in the future to implement this sort of load balancing of GPU hash power between the Gridcoin network and BOINC?


Trade at  C-CEX, a great up-and-coming exchange!

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Hi Aysyr,

 

From what I can see, at this time, boinc + gridcoin really complement each other very well in this respect.  Boinc has historically supported NVidia Cuda projects for GPU hashpower and some of their projects also run on AMD low end cards (that's good, because all the scrypt openCL based miners, like cgminer and reaper have openCL code that is tuned for the high end AMD but do work on some of the lower end amd cards as well), so another words out of the box, you have boinc users doing a significant amount of work with the CPU and potentially with the NVidia cuda side (if they are an existing power user) and the gridcoin miner buying AMD cards for hashing power, and they don't interfere with each other much. https://boinc.berkeley.edu/wiki/GPU_computing

 

But specifically to answer your question, gridcoin-qt nor cgminer shuttle any resources from the AMD card(s) over to boinc.  Both boinc + gridcoin-qt are "masters" and they have the ability to utilize the cards.  Cgminer dominates the AMD cards when hashing and should hog 90% of the resources of the AMD cards right away.  If you launch a boinc project that has an openCL algo and it runs on the lower end AMD card, lets say you had one AMD 7950 and one AMD 5700, you should see the hashrate drop on the 5700 as boinc processes rise and send some openCL code to run concurrently on that one card.  But if you have two 7970s and one NVidia, you should see full gridcoin performance on the 7970s and excellent boinc performance since most of the boinc projects support cuda algos, they should run on the NVidia card.  Its almost the same way multitasking works as related to the OS kernel.  But one other point for clarification, each boinc project has a separate development effort, that gives that dev the ability to implement the algo for that problem in an EXE, so that dev does have to specifically write the CPU algo and the GPU algo(s) that gets executed by the boinc manager.  My belief is they have more Cuda(Nvidia card) algorithm reference classes, hence stronger support for cuda algos on new projects.

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