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Comment by roboticmind

For those that are wondering how this works, Gridcoin uses PoS - not PoW - and then rewards for research on top of it. It is not locked into any algorithm because it's not PoW. There are currently 18 different BOINC project [1] that it rewards. New projects can be voted in or can be voted off.

To try to reduce the centralization, there is a system of oracles that gathers the stats from each project and the nodes verify that the oracles match each other. As well, each project only consists of 1/18th of the rewards [2] from research and there's also new coins rewarded for just staking, so if a project acts up, they wouldn't be able to largely manipulate coin supply.

If you have any more questions about it, feel free to ask me

[1] https://gridcoin.us/guides/whitelist.htm

[2] https://gridcoin.us/wiki/magnitude.html

Note: I help work on the gridcoin.us website and have ~5000 Gridcoin, so I may be biased in my view of the coin :)

parent roboticmind 5 years ago

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