BOINC, cryptocurrencies

[a1batross]

Why not use BOINC as reward system?

Reward mechanism -- BOINC-based;
Transaction verification mechanism -- PoS, for example. (because it doesn't made a lot of calculations)

For verifying rewards I suggest hardcode BOINC projects (for example, WCG, Einstein@Home, Rosetta@Home) using an API.
It like this:
Miner's computer: -- Hi all in the *coin network! I'm a $USER. My boinc-client was sent work and I got N points.
Other computers: -- Yes, API of Project@Home said that you really sent work and you will get M coins. (or "Nothing" if Miner's computer is cheating).

When all coins is mined BOINC-based mechanism will be disabled and *Coin will be 100% PoS.

What you're think?

[Mivexil]

Ripple did something like that (though centrally verified), and there's also GridCoin or whatever it was called which works pretty much this way.

Would it work for Bitcoin? Maybe.

[a1batross]

Ripple, yeah. But RippleLabs pays only 1.250.000 XRP every day. In my suggestion, network pays the miner depending on his credit (or points). But this will mine all coins too fast.

[heretolearn]

Yes Gridcoin does this. You should check it out.

[dddbtc]

I am researching a productive proof of work system that uses sha256d.

Imagine being able to do productive hashing at ASIC speeds

[heretolearn]

I am researching a productive proof of work system that uses sha256d.

Imagine being able to do productive hashing at ASIC speeds

Sounds interesting, I'm curious as to how that would be helpful. I mean surely there are better solutions to compute than hashes, isn't it ?

[minerva]

I am researching a productive proof of work system that uses sha256d.

Imagine being able to do productive hashing at ASIC speeds

Sounds interesting, I'm curious as to how that would be helpful. I mean surely there are better solutions to compute than hashes, isn't it ?

primecoin

[dddbtc]

I am researching a productive proof of work system that uses sha256d.

Imagine being able to do productive hashing at ASIC speeds

Sounds interesting, I'm curious as to how that would be helpful. I mean surely there are better solutions to compute than hashes, isn't it ?

It actually has nothing to do with the hashing algorithm itself, the productive proof of work system we're working on should be able to use the SHA256D hash for its calculations.  Because its productive, we want many large ASICs generating many solutions as fast as possible.

[luv2drnkbr]

ya ive been waiting for people to merge boinc projects into coins.  so far all we have is primecoin.  where is folding proteins coin and AIDS coin and seti at home coin and weather patterns coin....

[Sukrim]

It's hard to generate workunits for that kind of stuff on the fly, they need to come from a central repository (and these are not infinite/large enough).

[a1batross]

I think, it's possible support multiple projects.

And what is a problem in generating work on fly? If someone couldn't get work, he can get it later.