Meet the new innovative green currency for
founders, entrepreneurs, investors and main street.
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 over 1500 full nodes. Bitcoin has currently 6200 full nodes online, Ethereum 10000 and NXT has currently 280 full nodes.
Proof of Capacity
is better distributed.
Time has shown that
the way of mining Burst
is decentralized by design.
The currency is evenly
distributed after three
years of mining and trading.
how it works
A cryptocurrency that uses the unique algorithm called Proof of Capacity (POC), which utilizes your unused hard disk drive space instead of your processor or graphics card to mine BURST. Miners pre-generate individual chunks of data known as 'plots' which are then saved to disk. This individual data just proofs your capacity and is never sent to anyone else. Traffic requirements for mining are therefore extremely low.
facts and metrics
Proof of Capacity is Energy Efficient and Green
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 (May 2016). The capital costs for the Burstcoin network are comparable high as for Bitcoin but the operational costs are minimal. So there is a lot of HDD capacity at stake backing the network but always reusable for other individual needs if necessary.
environmental impact of mining hardware
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.