Review on GridCoin by Delta

Name: GridCoin
Item: GridCoin
Rating: 5

January 02, 2019

Gridcoin is a decentralized cryptocurrency based on a combination of proof of…

Gridcoin is a decentralized cryptocurrency based on a combination of proof of stake and proof of research (POS/POR) that incentivizes the processing of scientific work for the better of humanity in a sustainable and ecologically-considerate way. Rather than processing hashes, Gridcoin forms one huge, global supercomputer that is free for scientists to use across a volunteer computing platform and help solve the greatest problems humanity faces to this day, including curing cancer, AIDS and tropical disease, designing self-checking circuits to build a more resilient global technological infrastructure, discovering pulsars to help our future generations navigate interstellar travel, processing signals to discover aliens and much much more!
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We must believe in our future generations and lay out the adequate infrastructure for building a better and more sustainable society, and that is exactly what Gridcoin is doing.
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Pros

+ Proof Of Useful Work-based algorithm meaning you actually help real people get things done by mining + Proof Of Stake as a fundamental algorithm means you can earn GRC without mining + Low-impact, environmentally friendly blockchain + Low transaction fees + Strong development progress. Gridcoin has many active developers backing and maintaining it + Active community that can provide assistance 24/7 + Linear annual inflation with no limit, making the coin more like a currency rather than a security + Blockchain-based decentralized voting system + Presence on at least one major exchange + Dedicated, reputable, community-driven marketplace for trades using Gridcoin + Regular community rains, giveaways and competitions Gridcoin has received a variety of updates and is on the road for more in the very new future that brings more value, security and aesthetic to the currency. A recent switch to constant block rewards removed the expected future hyper-inflation and improved overall security, but that was just the beginning. Developers have goals to deliver a friendlier interface, easier beginning processes and modified rewards processing, truly making GRC a modern cryptocurrency.

Cons

- Inflationary model may discourage certain investors - Requires an existing balance of GRC to be eligible for rewards (however there are mining pools for those that wish to not make an investment) - Mining and staking setup is slightly more complex and thus time consuming - Low exchange volume - Poor marketing and awareness The main issues with Gridcoin as it currently stands is the lack of public presence and the fact that barely anyone knows about the millions of hours of work Gridcoin does in solving humanities biggest and most difficult challenges. As a result, liquidity is poor and there are only small market fluctuations from time to time.