The Gridcoin Fireside #11

Gridcoin Incentives

The Gridcoin Fireside is a participatory podcast brought to you by 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 EDT on the Gridcoin discord server.

Catch up on past episodes here.

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Recorded on June 27th

Listen to or download the episode here.

Gridcoin Incentives

This week we explore one of the most critical aspects of any economic system: Incentives.

Time Subject 1:15 Community Highlight

Fkinglag 4:40 Project brief: [email protected] 28:20 Incentives --- Protocol Incentives 30:15 Incentive 1: proof-of-stake 33:00 Incentive 2: computation contributions --- --- 34:15 Democratized Incentives vs Centralized Incentives 36:00 Expanding Gridcoin Incentives 44:15 The Gridcoin Oracle --- Process Incentives 49:50 Incentive 1: Computation Distribution 52:50 Incentive 2: Active Education 54:30 Incentive 3: Passive Education 57:45 Incentive 4: Science Literacy --- --- 1:01:00 Gridcoin: A Blockchain With Purpose 1:05:00 Alternative Perspectives

Gridcoin is the only multi-incentive blockchain. For now there are two protocol level incentive structures and multiple process-based incentive structures:

Protocol-based Incentives

At an emissions or protocol level Gridcoin rewards active network participants for their computation contributions to approved BOINC projects At an emissions or protocol level Gridcoin rewards active network participants for their contributions to blockchain security through the proof-of-stake consensus algorithm.

Process-based Incentives

Equal Distribution of Resources: Gridcoin distributes research rewards in a way that incentivizes crunchers to distribute their computation contributions across all whitelisted projects. This ensures that smaller, less sexy citizen scientist projects get a share of the network's computation contributions equal to the major marketed projects like WCG, [email protected], and LHC. Active Education: Gridcoin requires BOINC projects to be whitelisted in order to be incentivized by the protocol. As whitelisting takes places through a network-wide poll, this indirectly incentivizes BOINC projects to educate the system's general population as to the value of their research along with their ability to carry it out. Passive Education: Giving network participants a stake and a share of power in that network, particularly if the two are directly tied to money, incentivizes them to learn about the system in which they have a stake and make decisions. Gridcoin's system, as a blockchain-based cryptocurrency, involves financial structures and money. Gridcoin's protocol-based incentive structures add science to that equation. This means active participants are incentivized to learn about money and science! Science Literacy: Gridcoin participants are incentivized to be good stewards of the whitelist. Whitelisting properly run research and data analytics projects adds value to the Gridcoin network while whitelisting shabby do-nothing projects detracts value. In order to be good stewards, active network participants must educate themselves on what the projects and their research do.

This week @Delta1512 introduced us to the BOINC project of relativity, [email protected]

[email protected] is a BOINC project that aims to discover gamma-ray pulsars, binary radio pulsars and gravitational waves.

Check out the linked post for more information, or have a listen to the first half hour of the episode.

Join us for the next episode where Delta will be introducing the Distributed Hardware Evolution Project.

A map of found pulsars

LIGO's loving arms

The plate

What is Gridcoin?

Gridcoin is a multi-incentive open-source blockchain. Incentive one, stake rewards, rewards participants for securing the ledger through a proof-of-stake protocol. Incentive two, research rewards, rewards participants for contributing to approved projects hosted on the distributed computing infrastructure, BOINC.

BOINC, the Berkeley Open Infrastructure for Network Computing, hosts major institutional computing projects such as IBM’s World Community Grid, SETI, and data from the Large Hadron Collider, alongside projects developed by students, enthusiasts, mathematicians, researchers, and citizen scientists.

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