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Burst is a cryptocurrency and an open-source decentralized blockchain platform. Burstcoin was introduced on the bitcointalk.org forum on 10 August 2014 as fork of the Nxt-based cryptocurrency. Burstcoins are mined using an algorithm called proof-of-capacity (PoC) in which miners use computer storage instead of the more common energy-expensive method proof-of-work (PoW) which involves permanent computational operations. It’s worth mention that Burstcoin was the first blockchain that introduced a turing complete language to automate transactions aka smart contracts. Since 2019 these smart contract can be written in Java Syntax, which will be compiled to the VMs byte code then.
The energy requirement for Burstcoin mining is minimal compared to most other cryptocurrencies making Burstcoin one of the most energy efficient within the field of proof based cryptocurrencies. The blockchain platform allows for development flexibility, ensuring developers freedom to create their own applications. In this sense, Burstcoin can be considered as a next-generation cryptographic application project (often called ‘cryptocurrency 2.0’) in contrast to the first generation cryptocurrencies like bitcoin.
The crypto tokens, called Burst, are fairly distributed. There was no ICO, no pre-mine allocations to early adopters, and no airdrops for any promotions of the cryptocurrency during the launch. The Burstcoin blockchain operates with a block time of 4 minutes, the block reward size reduces at a fixed rate of 5 percent each month until it hits it’s max supply.
Decentralization, Low Energy Consumption
Proof of Capacity, Smart Contracts, Arbitrary and Encrypted Messaging, Inbuilt Token System, Alias System & Multiout and Subscription Payments