Posts Tagged ‘scrypt mining’

Gridcoin (GRC) Scrypt based cryptocoin

24, Jan 2014

gridcoin-scrypt-coin

GridCoin (GRC) is a new peer-to-peer internet based cryptocurrency that aims to provide real benefits to humanity by compensating the coin miners for participating in BOINC projects that may lead to advances in medicine, biology, mathematics, science, climatology, and astrophysics by concentrating a large percentage of the computational power towards BOINC research – instead of generating unnecessary heat and wasted power for the proof of work algorithms required to keep the coin network running.

It is estimated that bitcoin is using approximately 23,312 megawatt hours per day of electric for block solving algorithms. The aim of the gridcoin project is to shift the computational power primarily to Boinc projects while the mining operations become a second priority – so as the network is scaled up, Boinc utilization is scaled up in tandem.

The coin miners will be rewarded with a small token subsidy if they fail to mine Boinc shares, but a much larger subsidy when mining with Boinc. This digital cryptocurrency allows instant peer to peer transactions, worldwide payments and very low processing fees. The source code is open source and allows everyone to take part in the success of the currency.

Gridcoin is based on the Bitcoin protocol but differs from Bitcoin in that it can be efficiently mined with consumer-grade hardware, therefore is not as likely to be replaced by specialized ASIC mining chips in the future. Gridcoin provides faster transaction confirmations (2.5 minutes on average) and uses memory intensive scrypt-based proof-of-work algorithms to verify transactions.

Website
– http://www.gridcoin.us/

Block Explorer / Crawler
Not Available.

SPECIFICATIONS

  • Scrypt Algo
  • Re-target difficulty: 30 minutes
  • 2.5 min block targets, for quick confirmations for merchants.
  • Block reward: VARIABLE:    5 to 150 subsidy.    5 is rewarded if you mine with a miner like cgminer without Boinc running on the machine, 6-150 if you mine with boinc running, you will receive a calculated subsidy based on boinc utilization.
  • Total coins: ~168 million (est.)

DOWNLOADS
– Online Staking Wallet
– Windows

Source Code
– at GitHub

PORTS

  • RPC Port: 9778

POOLS
Not Available.

EXCHANGES
– Txbit
– C-cex

Grandcoin (GDC) Scrypt based cryptocoin

24, Jan 2014

grandcoin-scrypt-coin

Grandcoin (GDC) is a descendant of Litecoin, so it uses scrypt to mine. Grand Coin [GDC] is the coin that pays 1 grand per block.

Website
http://grandcoin.org/

Block Explorer / Crawler
http://grandcoin.org/blocks/

SPECIFICATIONS

  • Scrypt Algorithm
  • 45 second block time
  • 6 blocks transaction confirmation
  • 50 minted block maturity
  • 30 block difficulty retarget
  • accelerated diff re-targeting
  • Supports transaction messages
  • coins per block halves every year, or 700800 blocks
  • 0 premine
  • tx fee 0.1%
  • 45 sec block
  • 80 blocks per hour
  • 1920 blocks per day
  • 57600 blocks per month
  • 700800 blocks per year (365 days)
  • expect total 1,420,609,614 coins
  • Normal Payout per block: 1000 coins per block

DOWNLOADS
Windows

Source Code
at GitHub

PORTS

  • RPC Port: 12378
  • P2P Port: 12377

POOLS
https://gdcpool.us/
http://gdc.dedicatedpool.com/
http://gdc.nordicminers.eu/
http://gdc.coinpool.de/

EXCHANGES
– Cryptsy

Grain (GRA) Scrypt based cryptocoin

24, Jan 2014

grain-scrypt-crypto

Grain (GRA) is a PoW/PoS coin that is designed to be the unit of cyber-coin. It has a total of 50 billion unit to be released, through a fair p2p mining process. It is fast, secure and have sufficient coins for circulation so it can be used in real daily shopping. Grain is from the family of PPCoin/Novacoin with latest available algorithms that fixed various problems in the PoW/PoS coins. As compared to the PoW only coins, the proof of stake coins are more resilient to 51% attack. Also it is a long term energy-efficient crypto-currency since not all coins are obtained by mining.

Website
– http://graincoin.webs.com/

Block Explorer / Crawler
– http://coinblockchain.com/grain/

SPECIFICATIONS

  • Scrypt Algorithm
  • 30 seconds block target
  • 1024-2048 grains per block for normal blocks
  • 8 times or 64 times the regular payout per block for super blocks depends on the number of 9s in the previous hash
  • Difficulty retargets every block
  • Mining payout will be halved every 90 days (259200 blocks)
  • Minimum payout per block 1 coin
  • Total grains will be 50 billions
  • 6 confirmations for transaction
  • 50 confirmations for minted blocks

DOWNLOADS
– Windows

Source Code
– at GitHub

PORTS

  • RPC Port: 11055
  • P2P Port: 11054

POOLS
– http://gra.forkpool.com/
– http://gra.livechains.net/

EXCHANGES
None available at the moment.


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