@rnahlawi I've accidentally accessed one. I can't share you the ID, but someone out there just used another Burst ID as a passphrase.
Posts made by headsink
RE: Burst is busted?
Thanks @socalguy for the video, it answered my doubts of SpaceMint. I agree competition for hdd mining is good, but I can't see that even in the near future....
"There's no code here, this is a theoretical construct. I'm not comfortable building this yet because the underline primitives are not quite there yet..." -
I guess the people that have been involved with Burst are more knowledgeable because at least they've done the real physical experiment. Thanks @IceBurst & @haitch for the very detailed technical answer which would take some time for me to understand.
Burst is busted?
Few days back I was reading this article at coindesk.com. The creator of Bit-Torrent, @bramcohen was 'proposing' the Proof of Space because Proof of Work was a waste. In the article there wasn't any mention of Burstcoin, but there was a mention of a new white paper of SpaceMint, by one of the guy for the Proof of Space white paper.
I've read the SpaceMint whitepaper, in there it was said that
In terms of efficiency, a major issue with Burstcoin is that a constant fraction (0.024%) of dedicated disk space must be read every time a block is mined. In contrast, SpaceMint requires accessing only logarithmically many blocks in the size of dedicated space. For instance, at 1TB, Burstcoin reads 24GB, while SpaceMint reads 24 MB. Finally, verification in Burstcoin is also problematic: a miner has to hash over 8 million blocks to verify another miner’s claim.
As a complete noob that only started mining a month ago, I'm confused on this technical details. So my question is to the Developer, please explain this to me like I'm five because I'm like mining in the pool, then learned that there's more profitable pool to mine I just switched pool. My question is: Is that 'inefficiency' a real problem?
I don't know if Burstcoin is a bust or not, since I'm still new. But, from my short experience in trying other alt-coin, Burst is the easiest to obtain and traded with other top 10 cryptos on the exchange. IMHO, someone should enlighten Bram on Burst.