After bitcoin came out, there have been many attempts to design crypto currencies with better the properties and functionality that bitcoin original offered. The most altcoins attempt different ways to record information with respect to:
- Speed of confirmation
- Other functionality
Radically, Vitalik Buterin co-created Ethereum which provides blockchain-based distributed computing platform. Whilst some would consider Litecoin an immediate altcoin to Bitcoin as it shared fundamental properties. Ethereum offered a new direction for blockchain technology than strictly record keeping.
In the time that followed groups created blockchains to discover prime numbers, here are few more as well:
Foldingcoin is a Stanford University project for which computing cycles are used to simulate protein folding.
Gridcoin is a decentralized, open source math-based digital asset (cryptocurrency). It performs transactions peer-to-peer cryptographically without the need for a central issuing authority. Gridcoin was the first block chain protocol that delivered a working algorithm that equally rewards and cryptographically proves solving BOINC hosted work, which can be virtually any kind of distributed computing process. BOINC is an open-source volunteer oriented computing grid that combines the processing power of all individual users for the purposes of scientific research. It’s free, and harnesses the unused clock cycles from processors and graphics cards to attempt to cure cancer/aids/ebola/malaria, map the milkyway, crack enigma codes, etc.
Curecoin is a decentralized and open-source cryptocurrency built on the Folding@Home project managed by Stanford University. The Folding@Home project is a distributed computing project that focuses on disease research through the simulation of protein folding (pictured above). Contributors to the Folding@Home project are able to earn Curecoin (CURE) when folding through the Curecoin team. Curecoin exists as a means of compensation for computing resources used for this scientific research. Curecoin can be “mined” on any computer by any individual willing to help contribute. Most currencies are either in the CPU/GPU stage, or in the ASIC stage. CureCoin can be earned with both. Folders use high-end GPUs and CPUs to fold proteins, earning a proportional amount of coins set-aside for their contributions. Miners mine with SHA256 ASICs as usual, securing the blockchain for the CureCoin network. Whether you are heavily-invested in ASIC equipment or still have GPUs and CPUs, you can participate. Due to the nature of folding (diverse, constantly changing, not easily predictable), GPUs and CPUs will both always be relevant, so an investment in consumer hardware isn’t wasted.