Do You Remember SETI? GRIDCOIN Provides the Network for Any Service to make use of ANY IDLE Processing Time by edje

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cryptocurrency · @edje · May 11 '17 (edited)

$8.44

Do You Remember SETI? GRIDCOIN Provides the Network for Any Service to make use of ANY IDLE Processing Time

<html>
<p><img src="https://s28.postimg.org/kp9yvecpp/170511_seti_gridcoin.jpg" width="900" height="635"/></p>
<h2>Seti</h2>
<p>In early days of the public/mainstream Internet, the mid 90s, Seti (Search for Extraterrestrial Intelligence) was launched as for as far as I know, the first real distributed computing service. With a small software program running on your computer/PC, it would start computing whenever the screensaver kicked in. Seti required a enormous amount of computing power, since the goal of the Seti project was to identify extraterrestrial life by finding anomalies in all of the raw data recorded of the universe by big antennas around the world. Such anomalies were then further studied.</p>
<p>Supercomputers could do the task, but that would have required a big setup of many supercomputers and would have costed a whole lot of money! Keep in mind, a super computer in those times could easily cost 1-5M US$ a piece.</p>
<p>The Seti team came up with the concept of distributed computing, using the processors of the increasing number of PCs owned by employees and private persons at home. The resources available around the world was such an amount of factors high then the Seti team ever dreamed of before rolling out this network.</p>
<p>I loved the invention of Seti and contributed for at least 2 years to the project; Until my PC became really slow in comparison to other installation and degraded my contribution to almost nothing. Many engineers managing large server installation started to use their environment to contribute to Seti. These server farms would handle by far the largest load, and I lost interest since I did not see results anymore in my stats files.</p>
<h2>Gridcoin - Distribute Computation Network</h2>
<p>Recently I discovered Gridcoin, and they are doing exactly what Seti started back in the days; However slightly different: While Seti was a single service with a distributed computation method build into, Gridcoin offers the framework/network to run ANY service in a very similar distributed method to Seti. In addition, with Gridcoin anybody who provides their idle CPU/GPU (or processing power of any other processor) to the network, can earn money! Something that was not implemented with Seti.</p>
<h2>The Future</h2>
<p>With the enormous amount of processing power around the world today, of which a lot sits idle, Gridcoin may be a crypto based network/service that can become a huge success! At least it is a service to follow closely!</p>
<h2>Trading / Investing</h2>
<p>Less then two days ago, Gridcoin was discovered on the exchanges, meaning, value of the Gridcoin is going up and up. It may include some pump and dumps, but I' do believe int he service they offer and therefore Gridcoin is well positioned to have more pumps then dumps.</p>
<p><img src="https://ip.bitcointalk.org/?u=http%3A%2F%2Fwww.gridcoin.us%2Fimages%2Fgclatin.png&amp;t=576&amp;c=vk5BmQgBa4pnQw" width="472" height="472"/></p>
<p>This is what Gridcoin writes on its own webiste (http://www.gridcoin.us/)</p>
<blockquote>Gridcoin (Ticker: GRC) is a decentralized, open source math-based digital asset <a href="https://en.wikipedia.org/wiki/Cryptocurrency">(cryptocurrency)</a>. It performs transactions peer-to-peer cryptographically without the need for a central issuing authority.</blockquote>
<blockquote>Gridcoin was the first block chain protocol that delivered a working algorithm that equally rewards and cryptographically proves solving <a href="https://boinc.berkeley.edu/">BOINC</a> (Berkeley Open Infrastructure for Network Computing) hosted work, which can be virtually any kind of distributed computing process (GPU/CPU/Sensor/Etc).</blockquote>
<blockquote><a href="https://boinc.berkeley.edu/">BOINC</a> is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. It's free, and harnesses the unused clock cycles from processors and graphics cards to <a href="http://www.gridcoin.us/Guides/whitelist.htm">attempt to cure cancer/aids/ebola/malaria, map the milkyway, crack enigma codes, etc.</a>.</blockquote>
<blockquote>Gridcoin rewards BOINC computation using the Distributed Proof of Research <a href="http://wiki.gridcoin.us/Proof-of-Research#Proof-of-Research">(DPOR)</a> reward mechanism, which is a combination of Proof of BOINC <a href="http://wiki.gridcoin.us/Proof-of-Research#Proof-of-BOINC">(POB)</a> and Proof of Stake <a href="http://wiki.gridcoin.us/Proof-of-Research#Proof-of-Stake">(POSv2)</a>.</blockquote>
<blockquote>Proof of Work <a href="https://en.wikipedia.org/wiki/Proof-of-work_system">(POW)</a> consensus mechanisms are not utilised by the Gridcoin network, making the Gridcoin cryptocurrency network far more energy efficient than any existing POW cryptocurrencies.</blockquote>
<h1>ENJOY</h1>
<p><br></p>
<p>---</p>
<p>follow me <a href="https://steemit.com/@edje">@edje</a></p>
<p><br></p>
</html>

👍 created, vortac, pharesim, jacobcards, fyrstikken, englishtchrivy, steevc, cm-steem, hagbardceline, achim86, levycore, mammasitta, remlaps, lennstar, moisesmcardona, dovetail, steemspoker, silvia, scalextrix, happyphoenix, sifodyas, lola-carola, ropaga, healthydelicious, inna-yatsuk, oluwoleolaide, fkinglag, zikri, andrianna, beaming-pile, sodom, lukekelley, bedroomshaman, bitland, carloserp2000, bitcoinandcoffee, hidromatic, kgilhooly

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@lennstar · May 11 '17

I started with SETI@home too.

Small correction: 
Based on SETI@home the BOINC software was created, that manages dozens of projects. 
For a lot of them you can get rewarded Gridoin.

And yes, Gridcoin is severely underevaluated. Or maybe mow coming close, with current prices at 5 cent/GRC.

👍 edje

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@edje · May 11 '17 (edited)

It was so fun with Seti around, and getting more fun with Gridcoin around, and as I just learned, Golem. Golem does similar things to Gridcoin I understood. so one to watch as well :)

BTW, did I give the impression Gridcoin and Seti are the same? That was not what I wanted. Seti was first, and then something generic was made, indeed the BOINC algorithm/software.

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@lennstar · May 11 '17

Oh, and people, you can use the #Gridcoin tag ;)

👍 edje

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@edje · May 11 '17

ok, replaced the crypto tag with gridcoin in the original article :)

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@mammasitta · May 11 '17

I dumped them too early :(

👍 edje

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@edje · May 11 '17

Me too...But with profit...and buy order at 2.250....so lets see, maybe the USA will take profits and the coin will come down nicely to pick it up before the next pump :)

👍 mammasitta

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@mammasitta · May 11 '17

I also sold them with little profit the day before it started rising. It was in deep minus. The next morning I saw this coin on top of the charts . Crazy sometimes:) but fun. Little profit is better than nothing.

👍 edje

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@steemspoker · May 11 '17

Yeah, heard some days ago again about this coin. Big buy wall... and Fur sure pumps and dumps... Maybe I'll get in :-)
Nice post @edje
Resteem

👍 edje, cm-steem

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@edje · May 11 '17

Get in after a big dump....BUT, when Gridcoin plays their cards right, I think they can make it, ie be here for a long time to come. They build a great service. In reality it needs to be seen if they can scale up and become a very relevant network. I'm sure competitors will popup left and right, and some of them will die in the end. I only do very short trades on Gridcoin, no investment strategy behind, to risky at the moment.

👍 steemspoker

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@steemspoker · May 11 '17

I have buy order at 2591 SAT
Let's see what will happen :-)

👍 edje

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2 replies

@steevc · May 11 '17

I ran SETI on a PC many years ago (around 1998). I also played with distributed.net and another that did medical research (can't remember the name, but it wasn't Folding@home). The down side of these is that they can increase the PC power usage as it won't generally go into low power mode. 

I expect a lot of these use GPU processing these days as that can be orders of magnitude faster. I don't have any fancy graphics in my PCs.

👍 edje

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@cm-steem · May 11 '17

$0.04

About 1/3 of BOINC projects have GPU support, the majority are CPU based.

👍 steevc

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@edje · May 11 '17

$0.04

Agree with you the extra power consumption. But I think it is the future. With Gridcoin you can earn money. That was not the case with Seti. Hence I stopped, I think sometime in 1998. I think I was running Seti already in 1996 or 7. Not sure anymore. I also noticed that time other services starting to use distributed computation, but never got into those. Fun time though. Seti at our PCs while WWW was just out for a couple of years and WWW Search Engines just introduced and connected to the internet with a 28k8 modem.

👍 steevc

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@erkan · May 12 '17

You could actually earn money with SETI before Gridcoin (there was a service in Germany (klamm) that rewarded you for SETI points and transferred money to your bank account), but it didn't last so long

👍 edje

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4 replies

@steevc · May 11 '17

At one time I had a load of people at work running some of these. I could probably have gotten in trouble for abusing company resources :)

If my house was running on solar then I'd consider having something running 24/7 on one of these projects. What sort of money can you earn over a year? It might cover some costs.

👍 edje

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13 replies

@scalextrix · May 11 '17

$0.04

Gridcoin user here.  In fact you will often earn more from your CPU than from a GPU.  Many if the projects available through Gridcoin are actually too complex to use GPU, so remain on CPU only.  I use a good PC, an old laptop, a raspberry pi2 a raspberry pi3, 2  android phones and an android tablet to earn Gridcoin.

👍 steevc, scalextrix

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@steevc · May 11 '17

Cool. I have some Pis that I could use. They don't take much power anyway. Would I need to look at adding a heatsink to them?

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1 reply