DEVTOME.COM HOSTING COSTS HAVE BEGUN TO EXCEED 115$ MONTHLY. THE ADMINISTRATION IS NO LONGER ABLE TO HANDLE THE COST WITHOUT ASSISTANCE DUE TO THE RISING COST. THIS HAS BEEN OCCURRING FOR ALMOST A YEAR, BUT WE HAVE BEEN HANDLING IT FROM OUR OWN POCKETS. HOWEVER, WITH LITERALLY NO DONATIONS FOR THE PAST 2+ YEARS IT HAS DEPLETED THE BUDGET IN SHORT ORDER WITH THE INCREASE IN ACTIVITY ON THE SITE IN THE PAST 6 MONTHS. OUR CPU USAGE HAS BECOME TOO HIGH TO REMAIN ON A REASONABLE COSTING PLAN THAT WE COULD MAINTAIN. IF YOU WOULD LIKE TO SUPPORT THE DEVTOME PROJECT AND KEEP THE SITE UP/ALIVE PLEASE DONATE (EVEN IF ITS A SATOSHI) TO OUR DEVCOIN 1M4PCuMXvpWX6LHPkBEf3LJ2z1boZv4EQa OR OUR BTC WALLET 16eqEcqfw4zHUh2znvMcmRzGVwCn7CJLxR TO ALLOW US TO AFFORD THE HOSTING.

THE DEVCOIN AND DEVTOME PROJECTS ARE BOTH VERY IMPORTANT TO THE COMMUNITY. PLEASE CONTRIBUTE TO ITS FURTHER SUCCESS FOR ANOTHER 5 OR MORE YEARS!

GridCoin

GridCoin is a peer to peer digital currency, or cryptocurrency, which aims to make a valuable contribution to science as well as providing a new alternative currency and internet payment system.

Proof of Work which Pays

Most digital currencies such as Bitcoin or the various 'alt coins' are distributed to miners who contribute computing power to maintain the network which runs the coins, as well as performing 'proof of work' calculations. These proof of work calculations are designed to control the rate of distribution whilst also rewarding those people who contribute the most to maintaining the network, but they lead to a huge amount of wasted energy. Around the world, thousands of powerful computers are eating up electricity just to perform these calculations, which are of not of real benefit to anyone. It has been estimated that the Bitcoin mining network, for example, wastes more than 23,000 megawatt hours of electricity every day.

A range of solutions have been tried to counteract this, the most successful of which is 'proof of stake', which simply distributes coins to people who already own them, like a kind of interest. Another alternative is to find a way for proof of work calculations to actually do something useful and beneficial to society. PrimeCoin was the first to take this approach, using miners to search for chains of prime numbers, a project which is of interest to mathematicians and has applications in cryptography.

GridCoin aims to expand on this by rewarding miners who, in addition to maintaining the network, also participate in a distributed scientific computing project called BOINC. The BOINC project is well-established, and has already led to several breakthroughs, including the identification of promising new drug treatments for neuroblastoma, a form of cancer which affects children. Users of BOINC allow their computer to perform data analysis tasks on behalf of scientific projects, meaning that those projects do not need to buy or rent expensive super-computers. When you participate in BOINC you can choose which projects you want to contribute towards, and there are a wide range available in areas from astrophysics to medicine to climatology.

Ripple, which has its own digital currency called XRP, used a similar method for distribution quite successfully in the past, but has now closed its 'computing for good' program, with the last payments going out at the end of April 2014.

GridCoin Specifications

  • Launch Date: October 2013
  • Algorithm: Scrypt
  • Re-Target: 30 minutes
  • Block Targets: 2 minutes 30 seconds
  • Block Reward: 5-150 (5 direct from mining, up to 145 from BOINC contributions)
  • Total Supply: 168 million
  • Estimated Transaction Time: 2.5 minutes

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