Gridcoin Short Glossary

Are you new to the world of cryptocurrencies? Due to the massive use of abbreviations and technical terms it is hard to keep track of cryptocurrencies as a non-professional.  This glossary is meant to be a summary of all the crucial terms within the Gridcoin world which are displayed in the Gridcoin wallet.

Balance

The balance is the number of GRC you are able to move right now.

Stake

If you just staked/mined/created a block you will see some or all GRC being displayed as Stake. You will not be able to move those coins until they are back in balance, which takes 110 blocks which equals about 3 hours.

Unconfirmed

A transaction into your wallet takes 10 blocks to be fully confirmed. This equals about 15 minutes until the coins you recieved are being displayed in balance.

Total

Total = Balance + Stake + Unconfirmed

Blocks

A block is a list of all transactions made within the Gridcoin network since the last block was created. All blocks together form the blockchain, which contains every transaction ever made. The number of blocks is an indicator for the total timeframe the Network is running. The network participant that creates a block gets a compensation in form of Gridcoins. There are two different types of blocks. Interest and PoR (Proof of Research) blocks.

PoR Difficulty

The Proof of Research (PoR) Difficulty is the degree of difficulty to create the next block. The PoR Difficulty is automatically set to result in a block creation time of approximately 90 seconds. It is an indicator for the number of users participating in the Gridcoin network.

Net weight

The Net weight is the “weight” of the network at this time. Each participating wallet, or node, has a certain weight within the network depending on the research activity and the number of Gridcoins in the wallet. The Net weight is the sum of all single weights.

DPOR weight

The DPOR weight is the users node weight. It can be increased by raising the number of coins in the wallet or by extending the research activity. The DPOR weight of a pool researcher is not dependent on the research activity.

Status

The Status displays what your client is doing, e.g. mining with research activity showing “boinc mining”.

Magnitude

The Magnitude is an indicator for the users research activity relative to all the research activity within the Gridcoin network if the user is solo mining. It also is an indicator of the number of Gridcoins the user is owed a day. The formula is GridcoinsPerDay = Magnitude * MagnitudeMultiplier while the MagnitudeMultiplier usually is around 0.25. The Magnitude of a pool researcher is 0 in the wallet.

Project

Project displays the current project being mined from the pool of projects the user participates in (the client rotates projects). Project displays INVESTOR for investors and pool researchers.

CPID

The CPID is the Cross Project Identifier within the BOINC network. It shows INVESTOR for investors and pool researchers.

Poll

Poll shows the latest poll in that you can vote as a Gridcoin network participant. While there are secondary community polls there are also primary polls that you should participate in. Some take effect on the whole network, including polls about whitelisting projects or technical decisions.

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