Why I'm not mining anymore but BOINCing instead...
A few months ago , while browsing steemit searching posts regarding ''domestical'' mining topics, I reached one post that attracted me... I do not remember so well the particular post but it was related with the GRIDCOIN project and the implementation of the BOINC app. on Raspberry Pi type small computers.
I did some comments there and the replies I got show me the way I'm following right know.
For your quick understanding, BOINC (https://boinc.berkeley.edu/) is essentially a program that enables people to donate spare computing power to science projects requiring massive computational resources, with the goal of:
- curing diseases (ebola)
- studying global climate change
- discovering pulsars
- Finding extraterrestrial/alien life
- Calculating Asteroids trajectories
- Computing for the LHC (CERN)
- finding more efficient energy cells (folding proteines)
...and many other types of scientific research that are demanding available computational resources.
GRIDCOIN is a cryptocurrency that rewards researching for BOINC projects in a decentralized way. As any other Mined Crypto (as Bitcoin), BOINC users compete in doing calculations for actual research projects to earn coins. Gridcoin is based on Proof of Stake, but with the modification that the PoS reward gets bigger depending on how much research you do compared to your fellow researchers.
''Gridcoin introduces a Proof-of-Research algorithm that gives computers something productive to do. Instead of racing to solve meaningless equations, Gridcoin miners Researchers work on problems such as finding cures to diseases, mapping genomes, or climate studies, and are compensated for their work. Gridcoin is not limited to any one program, algorithm, or type of hardware. BOINC supports Windows, Mac OS X, Linux, and Android.'' source
When I discovered the beauty of the GRIDCOIN project I saw it clear.
I'm not mining with my computer anymore, instead I am a BOINC user (a BOINCer) and I'm rewarded doing so, not only earning GRIDCOINS but also getting the satisfaction of being useful for the science and mankind.
There are other crypto projects trying to do the same, for instance GOLEM is one of them but, in all of those cases, they are faraway from the level that GRIDCOIN has reached since long.
Today, instead of MINERGATE or any other mining program, I'm using BOINC in any available computer, tablet or phone able to use it.
Instead of mining, sometimes senseless, cryptos, I'm using the idle time of my devices for doing complex calculations for research projects that will benefit every one of us, and this is, as well, very important.
More information:
- GRIDCOIN is currently ranked in the number 163 of the Coin Market Cap.
- It is now traded at $0.041400 or 0.00000530 BTC.
- Its ATM (All Time high) was reached on mid-June this year when it reached 0.11 USD ( 0.00003830 BTC)
- It is trade on BITTREX, POLONIEX and Openledger between others
- It has a very healthy community here in steemit, always willing to help you in case you get lost or need some information
http://www.gridcoin.us/
https://boinc.berkeley.edu/
https://steemit.com/gridcoin/@toofasteddie/update-on-my-boinc-steem-engine-a-new-computer-added
Welcome to the Grid. I've been a fan of the system for awhile
Thanks!
@toofasteddie gridcoin.us is for wallet download and boinc.berkeley.edu is the miner right? I am gonna dive into it tonight
I would recommend you to follow exactly the instructions given in this video:
Extracted from this website: https://www.grcpool.com/
Cheers
many thanks man @toofasteddie
Thanks @toofasteddie
I've been experimenting with other coins: faucets and mining Monero. I'm using a low-end Mac. It turns out that Gridcoin has the highest return. Moreover, it requires no effort once it's running to your satisfaction, so the cost of my time is zero (outside of curiosity about stats, etc.) So, I'm doing well by doing good. :-)
That's the spirit!
Thanks for the comment
I hope more and more users will follow you and crunch for BOINC. Thanks for the post.
It is a matter of promotion. We have to promote GRIDCOIN. In fact, other underdeveloped projects as GOLEM have better promotion than GRIDCOIN and this is really a problem.
Very nice. And so fast. Lol
Interesting project - this really taps into the power of decentralization and reciprocal economics or also phrased as "the sharing economy".
What kind of boinc rewards have you been earning? how exactly is that calculated?
Gridcoin rewards can consist of 2 parts: Proof-of-Stake and Proof-of-Research.
Proof-of-Stake is generating new coins based on an interest rate of 1.5% p.a. on the staking coins. Proof-of-Research adds a payment on top of a minted block reward if a user is participating in BOINC projects that are whitelisted. The number of additional GRC is dependent on the users relative participation within the BOINC network compared to all participants eligible to generate Proof-of-Research. (https://en.wikipedia.org/wiki/Gridcoin).
The mining is also a way of benchmarking hardware. In my opinion, Boinc needs to have a single large community grid that feeds the data to be processed in a way that can be used to benchmark hardware. Having a single feed source would also make the process of joining more simple. Now it's difficult for the average PC user to install the software and select the right projects for it's hardware.
Agree with you, specially with the selection of the projects. The devs and community have to do more efforts to clarify it because it is really the key for the GRIDCOIN success.
Well, maybe not a single community grid to get projects, but at least one default community grid to get started.
I think with https://wuprop.boinc-af.org/ you are able to benchmark and compare your devices.
Welcome to the Gridcoin community!
Glad to have you on board! :)
i really love this idea! thank you!