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RE: 14th April 2017 - Gridcoin 30% spike in 24hr
Gridcoin is a cryptocurrency which rewards volunteer distributed computing upon the BOINC platform. There are currently 26 supported projects which range from attempting to cure diseases, to searching for extraterrestrial life. Ultimately any kind of computation can be distributed over BOINC.
BOINC computation is rewarded on top of proof of stake within the Gridcoin network, it does not use wasteful proof of work hashing mechanisms.
Oh jeez.....I don't know what proof of stake vs proof of work is. Mind linking me to something that explains it?
Mind using a search engine ?
I already read up on it on the gridcoin website.
But I also would rather discuss with people who know things rather than try to sift through what could potentially be misinformation. Just a preference.
Proof of work requires that you spend a lot of electricity and computation power to solve a calculation in order to create the next block & gain rewards.
Proof of stake requires far less electricity/computation-power and uses your balance to try and create the next block. The more coins you have the more likely you'll create the next block & gain your rewards.