The CureCoin Forum teamed-up with Stanford University for the purpose of launching a new ethical cryptocurrency known as Curecoin. CureCoin is based-o
The CureCoin Forum teamed-up with Stanford University for the purpose of launching a new ethical cryptocurrency known as Curecoin. CureCoin is based-on coupling SHA-256 Mining and-Folding@Home Protein, a product of Stanford University’s Pande Lab Folding. Stanford University is a renowned institution working with partners like Nvidia and Sony. Their Folding@Home network is termed as the most established of its kind.
The cryptocurrency has a big vision – find cures for common, life threatening illnesses, like cancer, Huntington’s, Alzheimer’s, preventing viruses, as well as designing next-level of pharmaceuticals. CureCoin eclipses Gridcoin’s BOINC with more than 45 petaFLOPS of processing power. That makes it the world’s fastest computer network thanks to countless volunteers. Pande Lab utilizes this computational power in order to simulate the folding of proteins, the-work horses which execute the instructions encoded in your DNA.
Unlike other hybrid systems such as BlueCoin’s, CureCoin shies away from newer scrypt-algorithms like X11, chosing to stick with the ‘tried and true’ SHA-256 hash algorithm (as in Bitcoin). What they want to encourage is people using consumer hardware such as home PCs for folding proteins, and leave mining to ASIC rigs with small utility for folding. Besides, cureCoin’s reliance on the SHA-256 allows the utilization of specialized mining equipment.
CureCoin works ina similar-way to Bitcoin, but rather than solving complex-mathematical problems, CureCoin miners have to participate in protein-folding. Proteins start-out in the body as unbroken amino acids chains, which then coil and fold into a-specific 3D-shape to execute important biological functions. A greater understanding by scientists on the basic info of how protein-folding functions can enable them-to solve debilitating illnesses or diseases, like cancer, Huntington’s, and Alzheimer’s.
The main difference between CureCoin and Bitcoin is that anyone is capable of mining CureCoins through use of an ordinary computer at the comfort of their home. They can do this by downloading Folding@Home program by Stanford University, which is the brain-child of professor Vijay Pande. This program simulates behaviour of protein on users’ computers & then sends data-to Stanford University.
Curecoins go to 3 main areas: Mined, Folders, and Developers. SHA-256 miners obtain 19 percent of the total coins (20 percent of the coins distributed each day). The folders obtain 76 percent of the total coins (80 percent of the coins distributed each day). 2 percent of the total funds are distributed to individuals who donated to the development of the project. The other 3 percent is dedicated to Curecoin developers, and is used for paying for development costs (like hiring professional-programmers, paying for infrastructure, and more), and for giving-back to the community (covering 0% mining pools, folding hardware giveaways, faucets, etc.). CureCoins are currently traded on open markets on online sites like Eobot, and have swapped-hands for anything between 4 cents and 50 cents.