Distributed computing cryptocurrencies are an exciting way to reward miners while actually using that electricity for a useful purpose. Distributed computing works by subdividing the computing task among thousands of individual computers. You can be rewarded for this work with cryptocurrencies. There are several popular cryptocurrencies that are currently being developed. Here is some general information on how to get started with distributed computing cryptocurrencies.
Why Distributed Computing Cryptocurrencies?
Cryptocurrencies that are most secure use the proof-of-work way of mining and confirming transactions. This method of mining uses a lot of electricity to perform usually relatively useless “hashes”. Distributed computing cryptocurrencies instead harness a similar distribution scheme based on useful scientific calculations instead of searching for a random hash. Some estimates place Bitcoin’s electricity usage greater than 159 individual countries. If this electricity is used instead to find answers to important scientific issues there would be another added benefit to cryptocurrency use.
Distributed Computing Cryptocurrency Project List
This is a list of projects that are combining distributed computing with cryptocurrencies.
FoldingCoin (FLDC) is distributed based on computing done for the Folding@Home Project by Stanford university.
Curecoin also rewards users for work-units folded for the Stanford Folding@Home project. You can simultaneously mine both FoldingCoin and Curecoin (merge mining).