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Gridcoin is an open-source cryptocurrency that rewards voluntary computing through the BOINC platform. The BOINC platform allows scientific projects in need of distributed computing power to connect with and reward the volunteers who can provide it.Examples of projects that are currently or have in the past been posted on BOINC are scientists attempting to discover cures for HIV/AIDS, cancer, malaria, and Ebola, mapping the Milky Way, and crack Enigma code machines.

The platform is free to use, for both scientists with projects and volunteers, and each project is given equal amounts of Gridcoin to rewards its volunteers. Gridcoin can be kept, or traded for other cryptocurrencies and fiat through several centralized or de-centralized exchanges.

In the future, Gridcoin hopes to be able to scale to the point where they can list more projects and ultimately reward a greater percentage of their user base.

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