BurstCoin (BURST) - cryptocurrency with explosive prospects!
But, fortunately, not everything is so sad and unambiguous. As in the piles of rock there is no-no, and the gold bar will Shine, and in the pile of alternative crypto-currencies from time to time there is a development with which you want to get acquainted closer.
One of these rare finds we want to share with you today. This digital currency, the authors called modestly, but with a certain message – BurstCoin, which can be translated as a flash or explosive coin. But no matter how you translate, and there are certain expectations-it seems something bright and impressive. How true such associations, time will tell, and now let's get acquainted with this "flash" in more detail.
What is the "explosive coin" Burst?
This is both a cryptographic coin and a payment system, which is based on blockchain technology. Given the rapidity of development of cryptosphere, this coin is not particularly "young". It appeared in the late summer of 2014. The launch was not preceded by any premine or IPO.
The currency itself is a fork of NXT because it is based on the source code of this particular crypt, but it would not be worth talking about if it did not have a fundamental difference from its predecessor. And there is such a difference. In BurstCoin is the first time in the history of cryptoprocta used a new mining algorithm Proof of Capaciti (PoC, or proof of capacity).
The essence of mining on the POC algorithm
This type of mining, as we have already noted, is fundamentally different from the well-known methods of mining the crypt. It is crucial to have free space on your hard drive, and your willingness to use it to "dig" currency. It will depend on the profitability of the work. However, some role play and processing power, and RAM, but only at the stage of preparation.
The first thing to do is to install a wallet. You need to install the current version of the" wallet " Burst, and also note that for its functioning you need Java. At the end of this stage, you will receive the address of your new "purse", which will "drip" money.
Your next step is selection of the pool and check on it, that cost is likely 1 coin Burstain (you throw someone from colleagues in the forum), then you will be entered in the number of recipients. Solo mining is also available, but as mining becomes more difficult, it becomes less profitable.
Then you need to collect the plot (a set of data calculated by the miner and stored subsequently on the computer's memory). Just this stage involves the use of the processor. Well, now you can start working directly. The main advantage is that in addition to the computer you do not need any more "iron", and the disk subsystem is loaded moderately enough, which has a positive effect on the energy efficiency of production.
Then everything is simple and familiar – go with your coins to the exchange and change to dollars or BTC (that's how you like it).
As you can see, there is nothing complicated in mining on the hard drive. To get started you need to go through a few simple seven steps:
- Download and install BurstCoin wallet.
- Registration of the personal account.
- Enter the passphrase (key).
- Login to your account.
- In the menu at the top left, you will see the number of your wallet, which you need to write down, as well as the cells at the bottom of the window (Write slots).
- Wait for the system to finish generating data.
- Select blocks and pool, and get started by clicking on "Start".
HDD selection criteria and a few examples of suitable hard drives
The equipment in cryptocurrency mining takes an important place and you need to be able to choose it correctly. In our case, we are talking about choosing a decent hard drive. The first thing you need to pay attention to is the ratio of cost and memory, in other words, you need to estimate how much you will cost 1Gb of memory. It is clear that the cheaper it is, the more profitable it will be for you.
The second criterion is the reliability of the device. However, this indicator is quite relative, because the HDDs produced today differ little in quality. Below we give a few suitable in our opinion options.
There are quite a few affordable and quality options brand Toshiba – DT01ACA Series 2TB, 3TB DT01ACA Series 3TB HDWD130UZSVA and P300. The first model is ideal for mining crypts, the cost of one Giga of memory is about 2.4 cents, but for a truly productive farm will need a lot of hard drives.
The second model proved to be good, the cost of 1Gb is only 2.3 cents. And the third option is also different efficiency (2.4 cents per 1Gb) and good performance.
I would also like to note the model Archive HDD ST8000AS0002 8TB from Seagate. It is noteworthy that the unit of memory is worth about 2.35 cents, while the usual cost of such memory in the hard drives on 4-6 TV is not below 2.7 cents, which makes them economically not very profitable. And another option with the cost of 1GB of memory only 2.3 cents – Seagate BarraCuda ST4000DM005 4TB.
BurstCoin cloud mining
The fact that there is such a method of mining cryptocurrency know, perhaps, all. But, basically, they know about the services that provide cloud mining services for Bitcoin and some other well-known digital coins. We want to introduce you to a resource that allows you to mine unfamiliar and not quite ordinary coin Burst.
Called service Burstmine and its services it offers is not very expensive. As you know, since this crypt is extracted on hard disks, Burstmine offers users free space on disks, and the power is not measured in Tera, Giga and Megahashes per second, but in Tera and Gigabytes.
Advantages and disadvantages of POC-mining burstcoin
Any method of mining the crypt has its attractive sides and disadvantages. The algorithm we consider is no exception.
The advantages clearly include the fact that you can do without cumbersome and expensive equipment, no need to spend time and money to find suitable graphics cards (built-in enough). The system is simple enough to install and configure, and placed all in the ATX-case of your computer. Moreover, you will not need any powerful power supplies, because a dozen HDD consume only about a hundred watts. In addition, they are not as hot as video cards (the heat generated by one gaming graphics card is comparable to the heat produced by a dozen hard drives). As a result, you will not need noisy and powerful cooling systems. And, finally, with this method of production of crypto-coins, it is not necessary to be a cool professional and thoroughly understand all this computer "hardware".
With the advantages it seems to be finished, it's time to talk about the shortcomings. They are not so much, but to know them will be quite useful.
The first and perhaps the most significant drawback is a fairly limited list of cryptocurrencies that can be mined in this way. The second thing to be warned about is the complexity of implementing a used hard drive. If you suddenly decide to update it, it is not the fact that you can return at least part of your costs (for example, used video card is much easier to sell). I also write about this moment, as the likely failure of the HDD after not very long, but in our opinion, is pure the reassurance of a series of "what if". Of course, anything can happen, but we would not classify such a probability as obvious shortcomings.
BurstCoin is a digital currency that turns "smart" contracts into reality
Attention to digital currencies has recently been focused to a large extent due to the possibility of using blockchain technology in the development of smart contracts. The number of startups launching "smart" contracts (like Ethereum) is multiplying every day. By tracking such large projects, the community almost missed a seemingly inconspicuous startup that was actually able to get ahead of everyone else in this matter.
Of course, we mean the Burst project, which launched a coin that allows you to produce smart contracts directly from your wallet. These very contracts can radically change many aspects of our lives. Up to the point that over time we will be able in many cases to do without lawyers or bankers, as intellectual contracts are able to fulfill the terms of contracts automatically.
The plans of the developers BurstCoin to increase the number of supported smart contracts, low, to 10 and to support online games, Autonomous corporations, etc. Such developments will make possible the implementation of instant transactions when conducting crowdfunding, auctions, lotteries and many other occasions when the need arises.
The BurstCoin project is attractive, first of all, by the availability and simplicity of creating and running a mining farm. But this is for those users who are focused on mining. And in General, it is much wider than the usual concept of cryptocurrencies, it has prospects in the field of intellectual contracts, for which the future. So we advise you to look at this site for those of you who want to use blockchain technology in your business, whether it's business, creativity or some other field of activity. Good luck!
Official websites Burstcoin TEAM
NEW! LinkedIn channel: https://www.linkedin.com/company/burstcoin/
Follow us on twitter! https://twitter.com/Burstcoin_dev
Latest Issue of the Burstcoin.ist : https://www.burstcoin.ist/2018/10/15/weekly-burst-report-56/
Recent Articles on burst:
Scavenger 1.6: Android mining is a fact! https://github.com/PoC-Consortium/scavenger/releases
Updated BurstLib/BurstCloud and new BurstOS (read the burstcoin.ist for details!)
Vote for burst we need top 25 for free listing https://numex.exchange/vote/ (Daily vote!)
Final Call for Sticker Campaign: https://www.reddit.com/r/burstcoin/comments/9lp9e6/global_burst_sticker_campaign_final_call/
//BRS 2.2.3 Is here! Update available on Qbundle, stop wallet before update! //
BURST (@Burstcoin_dev) | Twitter