Proof of Capacity
Burstcoin uses an advanced green algorithm to verify transactions. All you need is free space on your device to contribute to the network and mint your own coins. The algorithm favors smaller miners by design
The underlying network for transactions is decentralized by 2027 full nodes. Bitcoin has currently 5200 full nodes online, Ethereum 5500 and NXT has currently 280 full nodes.
Proof of Capacity is better distributed.
Time has shown that the way of mining
Burstcoins is decentralized by design.
The Currency is evenly distributed after
two years of mining and trading.
facts and metrics
~ 10.000 BURST
full nodes online
Proof of Capacity is Energy Efficient
The energy consuming part of mining is performing the calculations, but with Burst, the computer performs the calculations once, then all it does while mining is to read a few megabytes off of a hard drive every few minutes and checks every nonce it pulls off, instead of working through heavy calculations like Bitcoin.
Burstcoin's transaction network only uses 10 kW compared with Bitcoin's 200 MW. Transaction costs therefore are 0.02 Cents for Burst and 5 Cents for Bitcoin.
"Sadly Bitcoin isn't run by the users anymore,
it's replacing the banks with a handful of large mining operations." - Burst Lead Developer
Proof of Capacity is ASIC Proof
One of the reasons that Litecoin gained fame was because it was believed to be ASIC Proof. Time showed us that Litecoin can be mined by costly and rare ASICs nevertheless. This is unfair for the average small miner and is against the decentralized approach of cryptocurrencies.
Burstcoin's Proof of Capacity is based off of Proof of Work, so theoretically you could compute the Proofs in real time. However, it is not possible to require enough work to be done during a 4 minute time frame that even the most cost efficient ASIC cannot mine efficiently enough to make it cheaper to use than a hard drive. ASICs calculation speeds are rising, but so do HDD sizes.