Gridcoin is a cryptocurrency that utilizes a unique consensus mechanism called Proof of Research, which rewards users for sharing their computing resources. Unlike traditional Proof of Stake, where users stake their coins to validate transactions, Gridcoin's approach is based on computational contributions to scientific research.
5 answers
Carolina
Mon Nov 11 2024
Instead, the PoS blockchain of Gridcoin decides who will mine the next block by conducting a virtual coin flip. This process ensures fairness and randomness in block allocation.
CryptoTitaness
Mon Nov 11 2024
By staking Gridcoins, users increase their chances of being selected to mine the next block. This not only rewards them with new coins but also supports the network's decentralization.
Valeria
Mon Nov 11 2024
Gridcoin (GRC) operates on a Proof-of-Stake (PoS) blockchain mechanism. This system necessitates the staking of Gridcoins to commence the mining process for new coins.
Chloe_thompson_artist
Mon Nov 11 2024
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GeishaGrace
Mon Nov 11 2024
The PoS blockchain employed by Gridcoin utilizes a unique approach to allocate mining rights. Unlike Proof-of-Work systems, it doesn't rely on computational power.