Science coins vs Bitcoin

In the past four weeks, Gridcoin's value has increased significantly. To better understand whether this is because of the coin strength itself or if this applies to coins using scientific calculations in general, I took all coins that reward participants performing scientific calculations on their computers and compared them with Bitcoin as reference coin (which is not a science oriented coin).

In the chart below, I have presented the following four coins:

• Bitcoin (BTC) - is using SHA256 calculations and is taken as the reference coin for the value development
• Gridcoin (GRC) - is using BOINC projects as basis for calculations
• Foldingcoin (FLDC) - is using Folding@home as basis for calculations
• Curecoin (CURE) - is using 80% of the coin distribution for calculations made with Folding@home and 20% ASICS performing SHA256 calculations (unfortunately)

I took a period of eigth week from 15-November to 9-January, where 15-November is the zero point to allow a percentage comparison for any value increase or decrease.

Looking at the chart, all four coins moved up in a similar way until 7 December, after which Foldingcoin started to move up quicker than the rest. On 23-December, both Gridcoin and Curecoin started to pull away from Bitcoin as well. From the three science oriented coins, Foldingcoin has performed the best with an increase of 758%, second is Gridcoin with 450% and third is Curecoin with 398%. By comparison Bitcoin 'only' increased by 114%.

In summary, during the 8-week period all science oriented coins have outperformed Bitcoin significantly, which is a great achievement. This means that Gridcoin's value increase is not unique to the coin itself but applies more to the type of coin in general, which is nevertheless really positive. Let's see how this will further develop in the coming months.

Thanks for reading. Follow me for more BOINC & Gridcoin related articles. Gridcoin is an open source cryptocurrency (Ticker: GRC) which securely rewards volunteer computing performed upon the BOINC platform in a decentralized manner on top of proof of stake.

BOINC (Berkeley Open Infrastructure for Network Computing) is a distributed Internet platform and was launched beginning of 2002 and it rewards participants with credits for performed work. BOINC is an application available for multiple Operating Systems and uses the unused CPU and GPU cycles on computers to perform scientific work. Currently there are over 170,000+ active members using BOINC and performing scientific work in more than 50 different projects [1].