Burst, also known as the “green innovative cryptocurrency”, was founded in 2014 with the aim of solving problems that other popular cryptocurrencies are now facing – such as slow transaction times, high fees, and unfriendly platforms to users. Burst is a network that forked from NXT in August of 2014. The platform burst is run through allows users development flexibility, ensuring developers freedom to create their own applications. With the freedom to create individual applications, burstcoin can be considered as a next-generation cryptographic application project, in contrast to other cryptos such as bitcoin.
Burst is working to revolutionize how easy it is to mine coins in the cryptocurrency era.
It is the first cryptocurrency that can be mined with a proof-of-capacity (PoC) algorithm. With Burst utilizing its PoC algorithm, you are mining using free disk space instead of energy consuming CPUs and GPUs. This means mining the currency barely uses more energy than just leaving your computer on. This is fantastic news for someone who wants to get into mining but doesn’t want to invest the thousands of dollars it costs to start a big mining farm in your basement. In return, this should result in a more decentralized network which prevents large corporations from controlling everything.
The main goal of this currency is to be fair and accessible to everyone. Even though the founder of Burst is unknown, their team makes a bold statement, saying that they are striving to create and finish a platform with plenty of space and flexibility to fit everyone’s needs to create their own applications effortlessly.
Summary
Burst is a company that has set itself the fantastic goal of decentralization which is the backbone of what cryptocurrency should be. By introducing this state of the art PoC algorithm, it makes mining possible for everyone and could potentially revolutionize how mining will take place in the future for other cryptocurrencies.
