Gridcoin weekly project update - 16/Apr/18

Here is another weekly Gridcoin project update where I look at the project chart developments and highlight an interesting aspect. Today I’m examining the chart developments of Collatz Conjecture which had some remarkable up and down movements recently.

Since I started this weekly project update, Collatz Conjecture has had a steady increase of Recent average RAC and Team RAC vs Overall RAC % (purple lines in the charts below). This changed however beginning of February where the RAC output and team RAC contribution increased significantly (green lines in the charts below). I didn’t really think anything about it other than that team had found some new computing power pushing up the output.

Then at the beginning of April, the team RAC declined dramatically which is normally a sign that a project is running out of work (orange lines in the charts below). Interestingly the team RAC contribution dropped at the same time which is not really usual. I was expecting the Team RAC vs Overall RAC % to remain flat because nobody would receive new work, and as such I found the decline to be a bit odd.

(Source: BOINCStats)

So last week, I went to check on the project forum why the project stopped producing work and unfortunately it was not a good one. Apparently some Gridcoin team members, as part of the GRCPool, had been gaming the system for their personal gains by claiming credits for work never performed. Obviously, the team and GRCPool had nothing to do with this. Fortunately, the GRCPool developer quickly established contact with the project developers to help identify the players involved and block them from submitting any more work or making claims. Open communication on the project forum further helped to clarify that this issue was not specific to Gridcoin or GRCPool.

At the moment the Collatz Conjecture project developers are reviewing which work-units need to be redone and the team is developing new applications and server daemons to avoid situations like this from happening in the future. Until then, the project will not produce any new work-units.

You can follow the latest developments on the forum here & here and I hope with need tools and procedures being developed, this issue can be avoided in the future.

And here are the tables and charts for all whitelisted projects.

(Source: BOINCStats and CoinMarketCap)

Definitions

• Recent Average RAC = The total amount of RAC produced by all systems within the Gridcoin network.
• Team RAC vs Overall RAC % = The proportion of RAC output team Gridcoin has produced as part of the overall RAC for the project.
• GRC per 1k system RAC = The amount of GRC you will receive for a system per 1000 RAC points. Example: You have a system which is running Rosetta@home with a RAC value of 3500. According to the chart on 30-Oct, you should gain 3.5 x 0.42 GRC = 1.47 GRC per day for this system.
• USD per 1k system RAC = The amount of USD you will receive for a system per 1000 RAC points. Example: You have a system which is running NFS@Home with a RAC of 4700. According to the chart on 30-Oct, you should gain 4.7 x $0.29= $1.36 per day for this system.

Gridcoin is an open source cryptocurrency (Ticker: GRC) which securely rewards volunteer computing performed upon the BOINC platform in a decentralized manner on top of proof of stake.

BOINC (Berkeley Open Infrastructure for Network Computing) is a distributed Internet platform and was launched beginning of 2002 and it rewards participants with credits for performed work. BOINC is an application available for multiple Operating Systems and uses the unused CPU and GPU cycles on computers to perform scientific work.

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Image source: Header, Gridcoin logo, BOINC logo