RE: Gridcoin - The Cryptocurrency with the Power to Drive Modern Science
Gridcoin turns Bitcoin Miners into BOINC Miners
As you write, the Bitcoin Network uses a staggering amount of clock-cycles today. The network grows and grows and it looks to be an endless cycle of catching up by the miners.
Gridcoin however is a counterforce to drive people away from wasteful and unnecessary mathematical cryptocurrencies and into a humanitarian and more rewarding, in my perspective, cryptocurrency.
You write:
Even better, while BOINC only appealed to the altruistic minority of the population, Gridcoin appeals to the much larger profit-driven subset. It might not be an ideal motive, but who cares?
The BOINC network has been around for a VERY long time, and that just super great. People have been donating their clock-cycles to various projects for ages. But then came Bitcoin and all the other cryptocurrencies that made people start mining them with their computers and servers, maybe not the BOINC users but many others. Most BOINC users staid with what they did.
Gridcoin is a way of turning these people that aren't already using BOINC because of their interest in the projects, we can only hope tough, but for their love in cryptocurrency and a way to take some of the computer power off from Bitcoin.