Hello!

We have been hard at work defining who we are and how we operate over at Gridcoin. A main product from these conversations is the Gridcoin whitepaper. We have finalized the initial content and are currently working on formatting and visuals. Afterwards, we will begin the process of adding select details from the bluepaper which is currently under development, along with additional sections describing other functions of the Gridcoin network as they become a reality.

Before we begin the process of seeking approval from the general user-base of Gridcoin, we want to present the paper to BOINC users. We look forward to hearing your feedback, particularly regarding the section on BOINC.

If there are sections you think could be expressed more clearly, please let us know. Also, if you want to get involved or have any ideas on how we can use blockchain technology to improve the world of science and data analysis, we're all ears!

I have copied the Mission, Overview, and section defining IPP from the paper into this thread. You can find a link to a google doc that contains the entirety of the paper at the end of this thread.

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Mission
Gridcoin seeks to develop a blockchain-based distributed computing network powered by the idle processing potential of existing hardware. Access to this network is free for those with data to process, while participants of the network are incentivized with cryptocurrency minted by the Gridcoin protocol.

Overview
Gridcoin is an open-source blockchain that mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data driven analysis and scientific discovery (sections 3 and 4). Currently, the Gridcoin blockchain (section 5) is secured through a proof-of-stake protocol and monitors processing contributions to the distributed computing infrastructure, BOINC. BOINC, the Berkeley Open Infrastructure for Network Computing, hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and data from the Large Hadron Collider, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists.

Idle Processing Potential
Gridcoin defines Idle Processing Potential (IPP) as the processing power of a computing device multiplied by the proportion of unused processing over time. Every phone, every computer, every gaming system, every car, refrigerator, toy and object that houses a processor is potentially part of this network. IPP represents an enormous resource which will continue to grow as processors and embedded devices become an increasingly pervasive part of modern life. Gridcoin seeks to tap into this significant potential by encouraging the contribution of existing IPP to approved distributed computing platforms.

https://docs.google.com/document/d/1YUxvwKYt3LQ-DE7CIn6fwZyAMiqxXT_DjybqNHTi5Rs/edit?usp=sharing

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Respectfully,
jringo
The Gridcoin Network