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RE: Gridcoin -- the "better" cryptocurrency mining alternative -- (English/German)
Gridcoin sounds like a good one, especially with a low market cap like that! I like projects that use the 'useless PoW' to actually do something useful!
It's why I have some Golem (GNT) for example.
However I don't keep up with the 'supercomputer blockchain' field too much. Aren't there a lot of competitors by now? I heard something about SONM and Elastos too, but I never looked into it yet. I always get a bit wary when more competitors arrive on the scene.. suddenly it's a lot less clear which will survive and which won't.
Unfortunately, Golem is a bad example of avoiding useless PoW as it is basically Ethereum at heart, which is PoW. It's also a highly broken project out of the gate, but has great marketing.:)
Gridcoin is based on a large pre-existing system called BOINC which many people have been contributing CPU time to even before there were any monetary rewards.
Only around 1% of BOINC users are currently mining Gridcoins, leaving huge potential for growth without converting anyone to anything. Seems clear to me which will win!
Oh, yes, if that's the one that's been around for ages, I may have participated by doing DNA and Cancer research at some point in the past, running it as a screensaver.
The only downside really is that they're doing it for free to create a better world, which is a great thing when you think about it! Monetizing that, kind of takes away the 'I do this for free!' part.
Not sure if that's bad because I'm all for rewarding people who try to improve the world, but it does take away the voluntary-spirit and replaces it with a monetary incentive. Hopefully it pays off and the network grows, but I wonder if there won't always be a group that will continue to do it for free just like they don't want money for it right now
You could donate the earned gridcoin back into the projects, I think some are taking GRC to help support server costs etc. SETI for example will take it.
Hmm... that's true, you could of course still do it for free. And in fact produce near-tangible value in the form of a token. Smart thinking!