Gridcoin (GRC) is a cryptocurrency which uses a combination of the proof of stake and proof of work systems to process transactions and generate new gridcoins. It is primarily used as a means of exchange by users of the BOINC distributed computing platform.
The BOINC platform is maintained by the University of California, Berkeley. The platform makes use of the computing power of devices which are linked to the platform via the Internet to perform scientific calculations. Computer owners who allow BOINC to make use of their computing power are rewarded in Gridcoin.
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