We are pleased to announce the Research Support Coin (RSC).Until now, there was basically no way to mine some cryptocurrency by using the computing power in a useful way. We have thus decided to create a new
Ripple-based currency called "Research Support Coin", which will be used to reward people for donating their computing power to grid computing research projects. Unlike in standard Bitcoin-like mining, the computing power used to "mine" RSC is thus used to help scientists understand how proteins work, or find new treatments for cancer or HIV.
We are a group of researchers working in the field of natural sciences, mainly focusing on problems in applied physics. We have decided to create Research Support Coin to achieve following goals:
• support grid computing research projects (such as those within the
World Community Grid) by trying to transfer at least part of the huge computing power wasted to mine other cryptocurrencies to projects which are useful for humanity.
• support our own research in applied physics by additional funding, which may (or may not) arise from this project
• support research of other people about whom we know they’re doing a great job
A total of 2 billion (2,000,000,000) RSCs have been minted.
The RSCs will be distributed as follows:
60% (1,200,000,000) will be gradually given away to people donating their computing time to research projects within
World Community Grid. In the future, we would like to include also other projects, such as Folding@Home, Rosetta@Home and others.
For every WCG point earned, each day we will give members of the Research Support Coin team 0.01 RSC multiplied by % of the RSCs still available for distribution.
Examples:
At the beginning of the giveaway, 100% of RSCs is available. On the first day, the payout rate will thus be
1 WCG point = 0.01 x 100% = 0.01 RSC.
After 50% (600,000,000) of the RSCs is given away, 50% is still available and the payout rate for the next day will be 1 WCG point = 0.01 x 50% = 0.005 RSC.
After 86% (1,032,000,000) of the RSCs is given away, 14% is still available and the payout rate for the next day will be 1 WCG point = 0.01 x 14% = 0.0014 RSC.
10% (200,000,000) will be used to support our own research projects. For example, we could use a new spectrophotometer, x-ray photoelectron spectroscopy, some other smaller devices and a lot of coffee for overnight measurements.
10% (200,000,000) will be used to support research projects of other scientific groups, mostly in the field of natural sciences. We reserve the right to decide which projects will be supported. Be sure that we know quite a few people who do a great job in their research and would do even better with some additional funding.
5% (100,000,000) will be used to cover costs related to the distribution (support, bug fixing, website maintenance, etc.) and any other expenses we might have with this project.
5% (100,000,000) will be given away via various promotional giveaways, faucets, etc.
10% (200,000,000) is reserved as a reward for us.
You can find more information about the RSC and instructions on how to start earning RSCs on our website: http://www.researchsupportcoin.orgNote: all research projects currently running at
World Community Grid are CPU-based.