Gridcoin (Ticker: GRC) is a decentralized, open source math-based digital asset (cryptocurrency). It performs transactions peer-to-peer cryptographically without the need for a central issuing authority.

Gridcoin was the first block chain protocol that delivered a working algorithm that equally rewards and cryptographically proves solving BOINC (Berkely Open Infrastructure for Network Computing) hosted work, which can be virtually any kind of distributed computing process (ASIC/GPU/CPU/Sensor/Etc).

BOINC is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. Its free, and harnesses the unused clock cycles from processors and graphics cards to aid in curing disease, exploring the mysteries of the universe, and more.

Gridcoin rewards BOINC computation using the Distributed Proof of Research (DPOR) reward mechanism, which is a combination of Proof of BOINC (POB) and Proof of Stake (POSv2).

Proof of Work (POW) consensus mechanisms are not utilised by the Gridcoin network, making the Gridcoin cryptocurrency network far more energy efficient than any existing POW cryptocurrencies.