Bitcoin's Proof of Work is consuming vast amounts of computing power and electricity, approximately 200 MW. To use the energy of half a nuclear plant for a single task is wasteful.
Wouldn't it be useful to use an algorithm that can prove any type of computational process and at the same time confirm transactions? Sebastian will introduce Gridcoin, a system proving BOINC distributed computing work on the Block Chain.
Discussion will focus on security, application towards different computing tasks and dreaming about its future.
Sebastian is part of the Gridcoin team since Gridcoin's announcement in October 2013. Initially a crypto-currency miner, he started taking up a more active role. He has no IT background and is self taught out of pure interest.
The meetup will be at Dept of Mathematics and Computer Science, Bernoullistrasse 16, 2nd floor seminar room 205.
If the door to the building (mensa) is locked, call[masked] 82.