How Does Burstcoin Work? (simplified)



  • @stupendelious

    hey some points that would be nice to add to the text above:

    -greentech, how burst is the most eco-friendly mining choice.
    -the fact that your able to mine BURST beside any other coin, and that if you are mining ur gpu anyway its a complet waste of money to not add BURST and also mine your free HDD space.
    -assets, crowdfunding platform etc.

    i really dig that text, why not posting it on steemit? would be a good promo, i could maybe support you with some gfx if needed...



  • ...and that it is the FIRST POC coin, FIRST hdd-minable coin, the FIRST AT enabled coin, FIRST to do cross chain transfer.



  • Proof of Capacity:

    Burst uses a new algorithm for proof of HDD capacity (POC) mining, which means that Burst is the first crypto-currency mined using free space on your hard-drive!
    Instead of buying expensive mining equipment, like graphic cards, all you need to mine Burst is some free space on your device.
    Miners pre-generate chunks of data known as 'plots' which are then saved to their disk.
    The number of plots you store is effectively your mining speed.
    Every block the miner will skim through the saved plots, and come up with an amount of time until it is able to mine a block if another block hasn't yet been found.
    After reading through the plots is complete, your hardware can just sit idle until the newest block is found.
    And if you ever decide to stop mining Burst you can delete your plots at any time and use your HDD-space again.

    Greentech:

    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.

    Android Client:

    The Burst Android client for now is simply an interface for the Burst official web wallet.
    It currently supports logging into and using your Bust wallet.
    In the future, the client will support official Burst Android Plotting and Mining.
    This means, that soon you’ll have the option to mine the coin on your mobile devices, something that isn’t available on any other PoW based coin.



  • i converted the two parts to one text, it was posted on steemit today, check it out:

    [https://steemit.com/burst/@blockkontrol/burstcoin-explained]0_1471119043240_upload-aecc6b4b-82ef-4424-9dc8-4a739212e458





  • @overdozedCEO said in How Does Burstcoin Work? (simplified):

    This means, that soon you’ll have the option to mine the coin on your mobile devices, something that isn’t available on any other PoW based coin.

    Technically, it is possible to mine PoW-based coins on Android, but it makes little sense because it produces too much heat and will likely destroy the phone's components... PoW miners already exist for that OS, but Burst will be the first 'component sustainable' coin to mine on Android because of its green profile. This is something to keep in mind for such explanations.



  • Thanks. I think I'll add this to my pool!



  • @Tate-A Awesome! Thanks!



  • @stupendelious said in How Does Burstcoin Work? (simplified):

    More will be added later
    By Stupendelious...

    A good read, where is the "MORE"?



  • @delords Im sorry lol I just never got around to doing it. But Ill try to add some more soon


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