• Tag Archives cryptocurrency

  • Thunderclap: Science + Currency = Gridcoin

    Posted on by Azrael 1 Comment

    About Gridcoin:

    Gridcoin (Ticker: GRC) is a decentralized, open source math-based digital asset (cryptocurrency), kind of like Bitcoin, but also very different.

    Gridcoin was the first digital currency that delivered a working algorithm that equally rewards BOINC (Berkeley Open Infrastructure for Network Computing) scientific work.

    BOINC is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. It’s free, and harnesses the unused clock cycles from processors and graphics cards to attempt to cure cancer/aids/ebola/malaria, map the milkyway, crack enigma codes, etc..

    Here is a list of exciting BOINC projects where you can use your graphics cards and are also eligible for Gridcoin rewards:

    https://www.steemimg.com/images/2016/08/18/projects7dc64.png

    Gridcoin came into existance in 2013. Since then, team Gridcoin has become the top Boinc team in the entire world, doing close to 200,000,000 credits in daily scientific work, spread out over 30+ Boinc projects:

    http://boincstats.com/en/stats/-5/team/list/16/0#1

    How does Gridcoin actually work?

    https://www.youtube.com/watch?v=hVjnqbosg64

    Why is BOINC volunteer computing so important?

    David Anderson is co-creator of SETI@home – the project that looks for alien signals in space –  and the Director of BOINC. He explains why citizen science projects and volunteer computing is important for society and the advancement of science:

    https://www.youtube.com/watch?v=MHiUninQn18

    What is the purpose of this campaign?

    The purpose of this Thunderclap campaign is to raise awareness about BOINC scientific computing and digital currencies like Gridcoin, which gives volunteers and newcomers a monetary incentive to contribute to science with hardware at their disposal.

    Boinc computing uses up sizable amounts of electricity on a monthly basis and generous volunteers across the world usually pay for this cost from their own pockets. Gridcoin provides a way for Boinc volunteers to recoup their monthly power costs and be part of a growing and exciting digital economy.

    Official Gridcoin site: http://www.gridcoin.us/
    Official Boinc site: http://boinc.berkeley.edu/

    Source: Thunderclap: Science + Currency = Gridcoin


    📂This entry was posted in Computer Arcana 📎and tagged

  • Unlocking The Secrets Of Cryptocurrency: An Interview With Etheruem Co-Creator Taylor Gerring

    Posted on by Azrael 1 Comment

    Previously reserved for those living on the fringes of computing culture, digital currencies are quickly gaining popularity. You’ve probably heard of Bitcoin, but have no idea what it is. Simply put, it’s digital money that is completely secure and doesn’t use traditional banking to determine it’s value. It is known commonly as a cryptocurrency.

    In 2009 Bitcoin became the first popular cryptocurrency. While bitcoin is commonly attributed to the mysterious Satoshi Nakamoto, no one really knows who he is. Since 2009, many alternative cryptocurrencies have been created. Now we have Ethereum, Bitcoin, Gridcoin, Mastercoin, Auroracoin, Titcoin, among others. While these may sound like street names of drugs, these other cryptocurrencies are frequently called altcoins.

    Source: Unlocking The Secrets Of Cryptocurrency: An Interview With Etheruem Co-Creator Taylor Gerring


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  • The BitLicense Regulation Is Eight Months Old. One Has Been Granted to Date

    Posted on by Azrael Comment

    In June 2015, the New York State Department of Financial Services (NYDFS) established a new regulatory process for firms working in the cryptocurrency space. Applying for a so-called BitLicense involved submitting reams of paperwork, hiring expensive attorneys, and onerous reporting requirements. Critics said the process would put an enormous burden on small startups, and indeed many firms responded to the new regulationby announcing that they were no longer serving customers in the Empire State.

    As CoinDesk reported this week, the fears of critics have been further realized:

    The NYDFS has only issued one BitLicense under the regulatory framework, which it provided to bitcoin services firm Circle in September 2015.

    According to figures provided to CoinDesk by the NYDFS, this means as many as 21 industry startups are now operating under the BitLicense’s safe harbor provision, but waiting for a formal confirmation that they are licensed bitcoin services providers in New York.

    Even some of the industry’s more well-funded applicants, such as bitcoin exchange Coinbase and bitcoin storage specialist Xapo, indicated that their applications are still being processed.

    CoinDesk reached out to former NYDFS attorney Dana Syracuse, who defended the BitLicense on the grounds that “the process so far does not differ from traditional Money Service Business (MSB) licenses” and that firms waiting on approval can continue operating under the law’s safe harbor provision.

    OK, but the process of applying for an MSB in New York State is also expensive, slow, and favors large politically connected firms over small startups. It has long hindered competition in the money transmission sector. If the BitLicense process “doesn’t differ” that’s an indictment of the new regulation right there.

    Source: The BitLicense Regulation Is Eight Months Old. One Has Been Granted to Date. – Hit & Run : Reason.com


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