Dis Computing Uni

The Gridcoin Fireside #22 - Gridcoin Magnitude Definition and Distribution

October 14, 2019



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The Gridcoin Fireside is a participatory podcast brought to you by DCUni and the Gridcoin community. It is intended to introduce and explore DLT, cryptocurrency, and crypto-economics from a science oriented perspective.

The audience is welcome to participate through voice-comms or via the discord text chat.

Join us every Thursday at 8:00pm EST on the Gridcoin discord server.


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Recorded on October 3rd


This week we discuss ilikechocolate's outline for a new magnitude definition and distribution mechanism.

In this episode we really only introduce the questions that need to be answered in order to move forward:

  1. What are the problems with the current magnitude system?
  2. How does this idea address those problems?
  3. What are the benefits to this idea?
  4. What are the problems with this idea?
  5. Who would benefit from the implementation of this idea?
  6. Who would lose out from the implementation of this idea?
  7. Is this idea secure?
  8. What are the philosophical implications of this proposal?

We discuss only a few of these questions, but are certain to return to this discussion in the near future to fully address all of them.

Time Subject
1:15 News
Gridcoin Monthly Report
Outdated Gridcoin.world Update
Outdated Gridcoin White Paper Update
5:00 Gridcoin Marketing and Engagement Initiative
24:45 Gridcoin Reward Mechanism
41:30 System Failure (Discord crashed)
42:25 System Reboot - Should we move in this direction?
1:00:00 Closing Thoughts


What is Gridcoin?

Gridcoin is a multi-incentive permissionless blockchain initiated in 2013. It mints and distributes cryptocurrency in relation to the processing power a network participant directs toward data-driven analysis and scientific discovery, as well as through a proof-of-stake reward mechanism. The Gridcoin blockchain monitors processing contributions to the Berkeley Open Infrastructure for Networked Computing (BOINC). BOINC hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and CERN, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists. Access to Gridcoin's computation resources is free, while computation contributors are incentivized with cryptocurrency minted by the Gridcoin protocol.

Want to Learn More? 

Website: https://gridcoin.us
Discord: https://discord.gg/jf9XX4a
Steemit: https://steemit.com/created/gridcoin
White Paper: https://gridcoin.us/assets/img/whitepaper.pdf

-- Github --

Codebase: https://github.com/gridcoin-community/Gridcoin-Research
Community: https://github.com/gridcoin-community