Foldingcoin is a cryptocurrency and cause coin whose main purpose is to provide support to the Stanford’s Folding@home project. The university conduct
Foldingcoin is a cryptocurrency and cause coin whose main purpose is to provide support to the Stanford’s Folding@home project. The university conducts research and data analysis using the blockchain in order to help the curation of severe diseases such as Alzheimer and cancer. Foldingcoin utilises the spare computational power of people’s general purpose computers to simulate complex protein folding and contribute to the initiative. Each person who volunteers by leaving his/her PC working in the background receives coins as a reward. As a result, no energy is left unused, an important for the humanity cause is supported and contributors even benefit from that.
The Folding@home project started in October 2000 and consists of computers that run algorithms which simulate the folding of protein molecules in the human body. The misfold of proteins is the cause of serious illnesses that are currently incurable and lead to thousands of people’s death every year. What the university basically does is to enquire and analyse why the proteins do not fold the way they should and share all the information obtained with other medical researchers. Thanks to Foldingcoin, ordinary people can now easily help the project by simply installing a piece of software and letting it run on their computers.
Foldingcoin was launched in 2014 by Robert Ross and a team of cryptocurrency miners who were trying to find a way to invest the energy their mining hardware produced in something more significant than just generating coins. Foldingcoin uses a so-called proof-of-fold system that verifies the provided computer power by volunteers and rewards them. It makes use of the existing Bitcoin’s blockchain because a separate blockchain would require special maintenance and additional work and is actually useless to the project itself. Thus, all the energy of the developers is concentrated over the improvement, distribution and adoption of the coin.
Each person who wants to use the full resources of his/her PC can do that by joining the network of folding volunteers. Modern computers are fully capable of solving the folding problems involved in the initiative without lowering the overall speed of the machine. Foldingcoin is easy to set up, it consists of a file that the user only has to download, run and launch in order to start “donating” his/her computer power. When a folding problem is solved, the solution is submitted to the Foldingcoin’s server. The contributor is compensated by receiving the coins earned on a monthly basis. “Mine medicine, not hashes” is the slogan of Foldingcoin, so if you want to become a part of an innovative and meaningful project, join the network and help Stanford achieve its goal of 1 million connected computers.