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Browsing Testnet Chain
You are currently browsing the testnet chain on Gridcoin.
Magnitude Reward
Magnitude is rewarded as follows
  1. A total magnitude cap for Gridcoin, currently 115000
  2. The users RAC
  3. The projects total RAC for all users
  4. The amount of active projects rewarded for
115000 * (( User RAC / Project Total RAC ) / Active Projects )

Staking
When a wallet creates a new block on the chain, this is called Staking. Gridcoin uses "Proof-of-Stake", which means that the larger balance (Stake) you have, the larger the chance to create the next block.

The chance to create the next block depends on a few variables. Note that the difficulty changes every block.
  • The amount of staking coins on the network
  • Your mature wallet balance

  • Calculate number of stakes per day based on your wallet balance
    Stakes Per Day = (10000 / Wallet Balance) * Network Difficulty
    Calculate the amount to stake once per day
    Amount = (Network Difficulty * 10000)
    CPIDs
    CPID is short for Cross Platform IDentification which is used on the BOINC platform.
    Beacons
    To make the gridcoin network able to reward users on the BOINC platform it uses something called "beacons".
    Beacons is a special transaction contract that a wallet transmits to make the network aware that it should track your CPID results. Without this process you can not be rewarded.
    Remove yourself from Gridcoinstats
    All information on Gridcoinstats is public data pulled from two sources, Berkeley Open Infrastructure for Network Computing and Gridcoin. You can not remove your historic information for Gridcoin as it's a public blockchain ledger, you can however create a second wallet, not connected to any data on-chain (like a CPID) to make transactions more anonymous.

    To remove your BOINC connection to Gridcoin you need to tell each project that you participate in that they should not allow exporting your data, or that they should remove your account. Note that this would make future GRC rewards impossible.
    Legacy Network Actions Addresses
    Before the release of Gridcoin v5 all network smart contracts sent a transaction to a regular address, which none had the keys for. This was changed to use a proper burn method instead. (Github Source)

    These addresses where used in the older versions for advertising smart contracts, such as beacons, polls, votes, messages etc.
    Legacy Voting - Poll V1
    Poll v1 was removed on Gridcoin version 5.0.0.0 in favour for Poll v2. (source)
    The first version of polls did not detect spoofed voting and had a less secure validation process. During the years there where many attempts to fix this problem within the voting protocol, with various success.

    Poll v1 voting changed in version 3.5.8.3 at block ~734856 (source, source) to have a 5.67:1 for "Balance to Magnitude" weight. At this time a ActiveVote-Weight where introduced as well, to compensate for coins not active and balance the vote weight on active coins only.
    Polls - Vote weight
    While votes may not always have a ruling outcome, there are votes that may require a minimum to comply with guidelines for the network. Since a large potion of the vote weight is in wallets that may never come online, or has been lost, the community introduced the Active Vote-Weight (AV-W) parameter. This gives a guide on how large the active community is and is usually used as a base for voting.
    • Vote-weight: VoterBalance + VoterMagnitude ( ( TotalMoneySupply / TotalNetworkMagnitude ) / 5.67 )
    • Total vote-weight: TotalMoneySupply + TotalMagnitude ( ( TotalMoneySupply / TotalNetworkMagnitude ) / 5.67 )
    • ActiveVote-Weight: ( Average Difficulty * 9544371.769 ) + ( ( TotalNetworkMagnitude - Average Pool Magnitude ) * ( Average MoneySupply / TotalNetworkMagnitude ) / 5.67 )
    Disclaimer
    All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. Sources are Berkeley Open Infrastructure for Network Computing or Gridcoin. Read on what and how you can remove yourself
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    Updated on: 2021-06-13 19:21:24 +0200