Burst is a cryptocurrency and an open-source decentralized blockchain platform that connects individuals, companies and financial institutions. Users can move value in the scalable and customized green distributed ledger according to their own rules. Burst has several core-level features and was founded in August 2014. Burst is the first and only cryptocurrency secured by an energy-efficient Proof of Capability algorithm (PoC), providing equivalent security by scheduling computer resources and managing hard drives, and pre-computing results based on existing hash functions.

1. Mining method

There are different ways and methods on how to mine. For example, in Burstcoin, verifying the authenticity of blocks always has to be calculated from the very first block. This means that if a previous block is confirmed, the miner has to calculate from the very first block, and all possible solutions will be calculated and tried until a solution suitable for this block is found. This amount of calculation needs to consume a lot of CPU resources and electricity.

The solution provided by Burst is that each block is calculated only once, and then it is stored in HDD in this process called partitioning small blocks. The larger your hard disk, the more solutions you can store, and the easier it is for you to find the corresponding solution for a certain block. What does this lead to? If you find a block, you will be rewarded with a certain amount of Burst coins, and these coins can be exchanged for cash in the trading market. Generally, BURST can be exchanged for Bitcoin, and then Bitcoin can be exchanged for Euro or USD.

Burstcoin starts from the first block, each block rewards 10,000 Burscoins, and the monthly reward is reduced by about 5%. Why lower it? Every cryptocurrency starts with block 0, the "Original Block", with a pre-set maximum currency supply. Unlike fiat currencies (such as euros, dollars, etc.), its money supply is difficult to increase. In theory, based on the acceptance and use of the currency, cryptocurrencies are more valuable than traditional currencies because the money supply of traditional currencies is always growing. After the last block is mined, the miner's income will drop sharply because there will be no block rewards. Only transaction fees are left, and miners will always receive transaction fees as rewards if they continue to mine.

2. Project Features

Burst uses a unique algorithm - Proof of Capacity (POC), which uses unused space in the hard disk for mining instead of using processors or graphics cards. Miners pre-generate large amounts of data called "chunks" and store them on hard drives.

The number of "small blocks" determines how fast you can mine. In the process of generating each block, miners will briefly scan these small blocks stored, which will continue until a block is dug out, and must be rushed before another block has not been dug out. After scanning all the small blocks, your hardware will stop working until a new block is found.

And all you need to do is to use the computer's processor (CPU) or graphics card (GPU) to generate small blocks, and then mining does not require high-performance hardware configuration and does not consume a lot of power.

Related links:
https://baike.baidu.com/item/Burstcoin/22777198?fr=aladdin
https://www.burst-coin.org/