GridCoin is an innovative cryptocurrency that uses neural networks to ascertain how much research has been done by each user across Berkeley Open Infrastructure for Network Computing (BOINC) projects, utilizing a decentralized network of computing power. Some projects enable GPU mining but others are exclusively CPU. The best case for CPU mining is to check the projects that are CPU only and use the pool http://pool.gridcoin.co.
One example is the World Community Grid which utilizes computing power to make a contribution toward understanding and finding cures for diseases and sponsored by IBM. By donating space computing power, you help scientists solve the world’s biggest problems in health. Also, there is the University of Oxford’s climate modeling and prediction project. Instead of Proof of Work à la Bitcoin, Gridcoin’s method is known as Distributed-Proof-of-Research.
By participating and devoting computing power, you can obtain payments for participating in one or more of the BOINC projects.
- To get started, install the Gridcoin Wallet and create an account.
- Also, you must install the BOINC program.
- After running the BOINC program, select “View > Advanced View”. Then go to “Tools > Use account manager…”
- Enter “https://pool.gridcoin.co” in the Account manager URL box and click next.
- Finally, select which projects you want to run on your profile.
With Gridcoin in the top 50 cryptocurrencies and with such an altruistic offering, it is likely to see increased interest in the future as cryptocurrencies and blockchain technology gradually emerge into our everyday lives.
Source: How to CPU Mine Some Popular Cryptocurrencies | BTCMANAGER
