PiGrid - Press Release

Besides various updates in our Kickstarter campaign many things will change in the Gridcoin world this month, there are great things coming up: 1. The new feature Research Age will be introduced enabling unlimited scalability. Thereby, we can support hundreds of thousands of researchers without any loss of payment. Again, it’s not a payment lottery in Gridcoin like it is in Bitcoin, miners/researchers are paid based on their contribution to the BOINC crowd computing network in relation to the whole Gridcoin network. 2. The second last step in our decreasing reward schedule will take effect on October 20th 2015. This sets a maximum daily coin production of 75000 new GRC. 3. Gridcoins second birthday will be October 16th. This date will be a landmark in a history of incremental iteration and innovation concerning development.


PiGrid - get rewarded for helping research projects at home

Researchers already have technologies that can help in the fight against climate change and diseases.
Yet, those technologies often depend on large computational ressources for simulation and validation.
Now, a combination of innovations allows to incentivize progress.

In citizen science projects, each individual can volunteer to help.
By devoting spare computing time to research groups everyone could "recycle" idle working time of any computing device for a good cause.
BOINC[1] is a scientific network that has a paramount solution to manage the needed logistics:
it distributes small work units to participating computers for calculation and collects their results later while maintaining scalability.
On top of that, another innovation, Gridcoin[2], is able to reward participation in the BOINC network.
Gridcoin uses a blockchain algorithm to achieve fast and secure payments in a global, energy-efficient network.
While Bitcoin was consuming more than 15 Million US-Dollar in electricity each day[3], Gridcoin is able to strip energy waste and
dedicate 98% of globally networked ressources to scientific tasks.
This became possible by utilizing self-organizing properties of Bitcoin, asymmetric cryptography of Blackcoin[4] and
Gridcoins advanced blockchain concepts in "proof-of-research".

Still, a remaining problem is user adoption. The setup of Gridcoin combined with BOINC is time consuming and tricky.
This bars novices from easy access. In order to provide end users with a plug-n-play solution, PiGrid[5] has developed open-source software
that works out of the box and takes care of all related configurations and updates.
PiGrid can be used on existing hardware or bundled with pre-installed systems.
A graphical user interface allows choice of research projects via drag-and-drop, monitoring of progress and tracking rewards in Gridcoin.
The first generation of PiGrid solutions will be crowdfunded in this Kickstarter: http://pigrid.com/kickstarter

Below is a list of links for background information.
- short introduction to Gridcoin: http://uscore.net
- overview of BOINC: https://boinc.berkeley.edu/trac/wiki/BoincIntro
- developer board of Gridcoin: https://cryptocointalk.com/forum/464-gridcoin-grc
- twitter: https://twitter.com/PiGrid_com
- Gridcoin documentation: http://wiki.gridcoin.us

We'd be glad to hear whether you consider to mention PiGrid in any news coverage.
In case of specific questions, we are happy to answer your mail to press@pigrid.com.
Thank you for your time!

Regards, PiGrid

[1]: http://boinc.berkeley.edu
[2]: http://gridcoin.us
[3]: http://www.forbes.com/sites/timworstall/2013/12/03/fascinating-number-bitcoin-mining-uses-15-millions-worth-of-electricity-every-day
[4]: http://blackcoin.co
[5]: http://pigrid.com

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