Gridcoin

Last updated

Gridcoin
Gridcoin Logo.svg
Denominations
PluralGridcoins
CodeGRC
Precision10−8
Subunits
 1⁄100000000halford
Development
Original author(s)Rob Halförd [1]
White paper Gridcoin: The Computation Power of a Blockchain Driving Science & Data Analysis
Implementation(s)Gridcoin-Research
Latest release 5.4.8.0-hotfix-1 / July 4, 2024;7 months ago (2024-07-04) [2]
Code repository github.com/gridcoin-community/Gridcoin-Research
Development statusActive
Project fork of Bitcoin, Peercoin [3]
Written in C++
Operating system Windows, Linux, macOS
Developer(s) Gridcoin Community
Source modelOpen source
License MIT License [3]
Ledger
Timestamping scheme Proof-of-stake
Website
Website gridcoin.us

Gridcoin (abbreviation: GRC) is a cryptocurrency which rewards volunteer computing performed on the BOINC network. [1] [4] [5] [6] BOINC was originally developed to support SETI@home, [7] but has also been used for research in other areas.

Gridcoin was created on October 16, 2013, by Rob Halförd. Initially using the energy-intensive proof of work, as used by Bitcoin, Gridcoin migrated to a proof of stake protocol in 2014, similar to Peercoin, in an attempt to address the environmental impact of cryptocurrency mining. [1] [8] [9]

An exploit was demonstrated in August 2017 that revealed the emails of Gridcoin users and allowed the theft of other users work. The research team disclosed the vulnerability to the developers in September 2016, and the patch for the vulnerability was released in March 2017 with version 3.5.8.7, however the implementation of the fix introduced other issues. [10]

The implementation Gridcoin-Research was created as a fork of Bitcoin and Peercoin and is licensed under the MIT License. [3] It uses Qt 5 for its user interface [11] and prebuilt executables of the wallet are distributed for Windows, macOS, and Debian. [2]

5.3.2.0 of Gridcoin-Research Grc-wallet-5230.jpg
5.3.2.0 of Gridcoin-Research

References

  1. 1 2 3 Hijfte, Stijn Van (6 July 2020). Blockchain Platforms: A Look at the Underbelly of Distributed Platforms. Morgan & Claypool Publishers. p. 145. ISBN   9781681738925. Archived from the original on 11 May 2021. Retrieved 4 May 2021.
  2. 1 2 "Releases - gridcoin-community/Gridcoin-Research" . Retrieved 22 September 2024– via GitHub.
  3. 1 2 3 "License on Github". GitHub. Archived from the original on 28 May 2023. Retrieved 30 June 2023.
  4. ↑ Dong, Zhongli; Lee, Young Choon; Zomaya, Albert Y (2015). "Crowdware: A Framework for GPU-Based Public-Resource Computing with Energy-Aware Incentive Mechanism". 2015 IEEE 7th International Conference on Cloud Computing Technology and Science (Cloud Com). p. 266. doi:10.1109/CloudCom.2015.73. ISBN   978-1-4673-9560-1. S2CID   6852894.
  5. ↑ Kent, Peter; Bain, Tyler (2019). Cryptocurrency Mining For Dummies. Wiley. p. 320. ISBN   9781119579472.
  6. ↑ Elena Guerrero-Roldán, Ana; Baneres, David; Elena Rodriguez, M. (2020). Engineering data-driven adaptive trust-based e-assessment systems : challenges and infrastructure solutions. Cham, Switzerland: Springer International Publishing. p. 144. ISBN   9783030293260.
  7. ↑ Scoles, Sarah. "A Brief History of SETI@Home". The Atlantic. Archived from the original on 2017-05-23. Retrieved 2017-06-01.
  8. ↑ "Bitcoin mining likely uses more energy than it takes to keep New Zealand's lights on". Australian Broadcasting Corporation . 12 December 2017. Archived from the original on 8 January 2021. Retrieved 4 May 2021.
  9. ↑ Kondru, Kiran Kumar; Saranya, R.; Chacko, Annamma (2021). "A Review of Distributed Supercomputing Platforms Using Blockchain". In Tripathy, Asis Kumar; Sarkar, Mahasweta; Sahoo, Jyoti Prakash; Li, Kuan-Ching; Chinara, Suchismita (eds.). Advances in Distributed Computing and Machine Learning. Lecture Notes in Networks and Systems. Vol. 127. Singapore: Springer. pp. 123–133. doi:10.1007/978-981-15-4218-3_13. ISBN   978-981-15-4217-6. S2CID   224845754.
  10. ↑ Grothe, Martin; Niemann, Tobias; Somorovsky, Juraj; Schwenk, Jörg (2017-08-14). "Breaking and fixing gridcoin". Proceedings of the 11th USENIX Conference on Offensive Technologies. WOOT'17. USA: USENIX Association: 14.
  11. ↑ "Gridcoin-Research/build-unix.md at development · gridcoin-community/Gridcoin-Research". GitHub. Retrieved 21 July 2021.
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