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Review on GridCoin by M. Penguin
Gridcoin is a cryptocurrency that rewards for specific work done on the BOINC…
Gridcoin is a cryptocurrency that rewards for specific work done on the BOINC (Berkeley Open Infrastructure for Network Computing) platform. The network runs by real work that helps researchers and scientists all around the world. Gridcoin is a Proof of Stake (POS) network, making it more energy efficiant than a Proof of Work (POW) network. BOINC is a platform that has been around since the 2002 and has an extensive user base. Projects like SETI@Home and World Community Grid has around 1,5 million users, roughly 500,000 are active on a daily basis.
Pros
- Utilizes electricity to contribute to science rather than simply mining a coin. You profit when science profits! In addition to Proof of Work rewards (BOINC), it also utilizes Proof of Stake, so the more Gridcoin you have online to secure the network, the more you will be rewarded! Also has very low transaction fees, and everyone who has the client and some Gridcoin can vote on proposals.
Cons
- Not the easiest of setup, but the devs are working hard to make the process easier. There is also a lot of support online (Reddit, IRC, Steemit), so it's easy to find help if you get stuck setting up. There is a low volume of GRC on exchanges, so trading may be more difficult. The inflationary model may also scare some investors off.
