Burstcoin review and course - cryptocurrencies with energy-efficient mining.
It is clear that anyone reading this article, at least, knows about the existence of Bitcoin and its many followers forks. If you are a little more immersed in the topic, then no doubt you also know that most of these forks are hardly worthy of your and our attention. Basically, these are pale copies of the "big brother" Bitcoin, not sparkling with novelty and originality.
But, fortunately, not everything is so sad and unambiguous. Just like in piles of breed there is no, no, and a gold ingot will flash, so in a heap of alternative cryptocurrencies from time to time there is a development that you want to get to know better.
This is both a cryptographic money and payment system, which is based on blockchain technology. Given the rapid development of the cryptosphere, this coin cannot be called particularly “young”. She appeared in the late summer of 2014. The launch was not preceded by either premine or IPO.
The currency itself is because it is based on the source code of this particular crypt, however, it would not be worth talking about if it did not possess a fundamental difference from its predecessor. And there is such a difference. For the first time in the history of crypto projects, BurstCoin has used the new Proof of Capaciti mining algorithm (PoC or proof of capacity).
This type of mining, as we have already noted, is fundamentally different from the previously well-known crypt mining methods. The availability of free space on your hard drive is crucial here, and your willingness to use it to “dig” the currency. The profitability of work will depend on this. True, processor power and RAM play some role, but only at the preparation stage.
The first thing to do is 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”, to which money will be “dripped”.
Your next step is to select a pool and register on it, which will most likely cost 1 Burstcoin coin (it will be easily thrown to you by one of the colleagues in the forum), after which you will be listed as a recipient. Solo mining is also available, but with the increasing complexity of mining, it becomes less profitable.
Then you need to collect plot (a dataset computed by the miner and subsequently stored on the computer’s memory). Just this stage involves the use of a processor. Well, now you can begin to work directly. The main advantage is that in addition to the computer, you no longer need any hardware, and the disk subsystem is loaded moderately enough, which positively affects the energy efficiency of production.
As you can see, there is nothing complicated in mining on a hard drive. To get started, you need to go through several simple steps:
- Download and install the BurstCoin wallet.
- Registration of a personal account.
- Entering a passphrase (key).
- Sign in to your account.
- The menu at the top left will indicate the number of your wallet that needs to be recorded, as well as the cells at the bottom of the window (Write Plots). Wait until the system finishes generating data.
- Select the blocks and pool, and start work by clicking on “Start”.
Equipment in the mining of cryptocurrencies occupies 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 size, in other words, you need to figure out how much it will cost you 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. True, this indicator is quite relative, because the HDDs produced today differ little in quality. Below we give some options that are suitable in our opinion.
There are several quite affordable and high-quality options for the Toshiba brand - DT01ACA Series 2TB, DT01ACA Series 3TB and P300 HDWD130UZSVA 3TB. The first model is ideal for crypt mining, the cost of one Gig of memory is about 2.4 euro cent, but for a truly productive farm you will need a lot of hard drives.
I would also like to note the model Archive HDD ST8000AS0002 8TB from Seagate. It is noteworthy in that the memory unit here costs about 2.35 cents, while the usual cost of such a memory volume in hard drives on 4-6 TVs is not lower than 2.7 cents, which makes them economically not very profitable. And another option with a cost of 1GB of memory is only 2.3 cents - Seagate BarraCuda ST4000DM005 4TB.
Perhaps, everyone knows that there is such a method of mining cryptocurrencies. But, basically, they are aware of 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 an unfamiliar and not quite ordinary Burst coin.
The Burstmine service is called and it offers its services not very expensive. As you understand, since this crypt is mined on hard disks, then Burstmine offers users free disk space, and capacities here are measured not in Tera, Giga and Megachesh per second, but in Tera and Gigabytes.
Advantages and disadvantages of PoC mining
Any method of mining crypto has its own attractive sides and its drawbacks. The algorithm we are considering is no exception.
The pluses clearly include the fact that you can do without bulky and expensive equipment, you do not need to spend time and money looking for suitable video cards (quite built-in). The system is quite simple to install and configure, and everything is located in the ATX-package of your computer. Moreover, you will not need any powerful power supplies, since a dozen HDDs consume only about a hundred watts. In addition, they do not heat up as much as video cards (the heat generated by a single video 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 mining, crypto coins do not have to be a cool professional and thoroughly understand all this computer hardware.
With the merits, they seem to have finished, it's time to talk about the shortcomings. There are not so many of them, but knowing them will be quite out of place.
The first and perhaps most significant drawback is a fairly limited list of cryptocurrencies that can be mined in this way. The second thing you need to warn about is the difficulty of implementing a used hard drive. If you suddenly decide to update it, then it’s not a fact that you can return at least part of your costs (for example, it’s much easier to sell a used video card). They also write about such a moment as a possible failure of the HDD after a not very long time, but in our opinion, this is pure reinsurance from the “what if” series. Of course, anything can happen, but we would not attribute such a probability to obvious shortcomings.
The attention to digital currencies has recently been riveted 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. Tracking such large projects, the community almost missed the seemingly inconspicuous startup, which in fact was 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 the wallet. These very contracts can radically change many aspects of our lives. Up to the point that over time we can in many cases do without lawyers or bankers, since intellectual contracts are able to fulfill the terms of contracts automatically.
The plans of BurstCoin developers to bring the number of smart contracts supported by the system to at least 10 and introduce support for online games, autonomous corporations, etc. Such developments will make it possible to carry out instant transactions during crowdfunding, auctions, lotteries, and in many other cases, when this is necessary.
Conclusion
The BurstCoin project is attractive primarily because of the availability and ease of creating and launching a mining farm. But this is for those users who are focused on mining. But 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 lies. So we advise you to look at this site for those of you who are striving to use blockchain technology in their business, be it business, creativity, or some other area of \u200b\u200bactivity. Good luck
The cryptocurrency has the full name Burstcoin, at the same time it also serves as a payment system.
The coins were created on the basis of advanced military cryptography, which was implemented in the project in mid-2014.
Content:
No wonder military notes are heard in the name of the crypto fund, the literal translation of a virtual digital asset sounds like an “explosive coin”.
A platform is used as a network protected zone.
For the first time, the cryptocurrency site was presented on August 10, 2014 on the official work resource bitcointalk.org.
On the site’s communication platform, it was officially announced that the platform will work using the new generation Proof of Capacity (POC) algorithm, where it is possible to use your own free space on the memory of your personal gadget. This means that the requirements for the production of BURST cryptocurrency are minimal and less energy-consuming, and the Nxt platform, which served as a fork of Burst, provides an efficient mode of development of the mining process.
How did cryptocurrency come about?
In the history of the development of the prospects of the cryptocurrency Burst, there are two directions - development and innovation.
Moreover, each stage had independent development factors.
During the development process, the currency creators published their platform idea on the cryptosite forum-bitcointalk.org, indicated the working name of the crypto asset “burstcoin”, but there was no IPO (that is, there was no public offer) and ICO premining.
An open working source code was generated for the main code, to which all participants in the process were related.
The second stage of development is an innovative approach.
It was Burst who was the first to implement the new Proof of Capacity algorithm, and also became the pioneer of smart contracts called Turing Complete.
Relatively speaking, even before the appearance of "" in ethereum and Counterparty, the technology was successfully tested on the Burst cryptocurrency.
As an example, one interesting fact can be made when, on the basis of smart contracts, the idea of \u200b\u200ba decentralized lottery was first realized.
As additional innovations, it should be noted that Burst, like Qora, first used ACST technology, which allowed for large-scale trading and transactions without using third parties, for example.
Technical features of cryptocurrency
A brief technical base of cryptocurrency is as follows:
Note that cryptocurrency exchanges accept Burst cryptocurrency, but due to its low cost, many people prefer to mine at home, so you don’t need “heavy duty” accessories to connect, and you don’t always need to be equipped.
Capitalization, price and trend
For the entire duration of the trend, the BURST cryptocurrency once managed to achieve maximum capitalization, which on January 6, 2018 reached $ 219 527 892, while on this day the rate was $ 0.1219.
In February 2018, against the backdrop of a general crisis in the crypto industry, a drop in BURST is observed, but at the same time, the price of 1 token is higher than the annual average of 2017.
For the first decade of February 2018 capitalization amounted to about $ 43,000,000, and the rate is floating around $ 0.002-0.003.
About Burst Blockchain
The structure of the Burstcoin blockchain has a public execution format, where each transaction is recorded.
The structure has a decentralized system, and the service is performed using Burstcoin software supported by a network of nodes.
You can spend currency only using a specific address, using an encrypted type of signature.
The network, in turn, verifies the authenticity of the signature using the public key available to all participants.
Each transaction can have several inputs and outputs in its block, and for outputs there are several additional options for conducting transactional operations.
So, for example, an auxiliary output can be used for such an action, so that you can give change to the payer. Sometimes the total amount of coins for making a payment allows exceeding the possible final amount for making payments, then the surplus goes as a commission for the operation.
Burst cryptocurrency mining
Mining for Burst is the most affordable and less expensive compared to similar groups of cryptocurrencies.
Let us explain in more detail, if for the main cryptocurrencies a CPU or GPU algorithm is required, then in this case you only need PoC.
That is, for mining you need a little free workspace on yours.
It’s so profitable to mine that you’ll hardly notice a change in your electricity bill. Figuratively speaking, hard drives have a power consumption of less than 5 watts, which is equivalent to normal charging for a mobile phone.
Add that no complaints have been recorded today related to the mining of the Burst crypto assetcaused by the failure of computer technology, they simply do not exist.
For mining, special programs are used - miners, which generate free spatial “pieces” of the database, called Plots (“PLOTs”), which are stored in turn on the hard disk.
The speed of the operation will depend on the total volume of such work sites, that is, the more free space, the better the mining process will go.
Below is the traditional mining guide scheme on BURST:
- Download the official wallet service and mining platform
- For the framework use preferably updated or latest program JAVA platforms
- According to instructions extract archive files with your wallet to the root mode of the directory that pre-installed section in which it will be placed on your computer hard drive.
- Go back to the miner folder and edit all the downloaded files with the index .bat to the new index. java, that is, there should be an example of this kind of C: WindowsSysWOW64java. It is permissible that you do not need this action!
- We are looking for a wallet like run.bat in the folder, force it on.
- In the folder, double-click on the working link of the Burst_Wallet.url software product or, in an exceptional situation, specify this value in the browser: “http: // localhost: 8125 /”
- Your service wallet of the type BURST is launched in the browser. You will be offered the option to create your own account. We copy and save the secret information of the wallet. You will need this later, each time starting the wallet service.
- We wait until the wallet downloads all the information and files.
- Open the downloaded file-folder with the miner installed and save the received secret phrase in the root repository passphrases.txt.
- We proceed to run run_dump_address.bat. By taking into account the formed secrecy of your phrase, your account will automatically be generated.
- Open the following address.txt file and make an exact copy of your account number.
- We carry out a redirect file called run_generate.bat.
and replace with the following record:
In this situation, the PLOTS will have a size of 200 GB, and will be created using 2 main cores.
- We start the run_generate.bat mode. PLOTS are automatically created. The whole process will occur from 0. You should have this table:
- Next, run run_mine.bat mode. You will have exactly 3 windows. The first window is for generating a PLOT; the second window is for the BURST wallet server service; the third window is the direct mining procedure.
Attention! In the download workflow, the message “Error reading file” may appear. This is a normal and natural process, which indicates the normal course of the mining process, so not all PLOTs are processed and generated.
- Upon completion, the full generation of the PLOT, the network load will drop, after which it will be possible to permanently close the PLOTS window.
Attention! In no case do not interrupt the download, otherwise you will have to perform it again. A similar requirement is imposed in the event of a power failure.
You can also mine in a pool. The operation scheme is approximately the same as in solo mode. Currently, mining in the pool is not as popular as solo, since the cost of BURST coins is very low, so the vast majority of miners are “solo”.
Here you can find a suitable scheme for buying and selling a crypto asset.
For withdrawal, all available crypto exchangers are used, which allow you to transfer the crypto asset either to another type of cryptocurrency or to fiat money.
Expert opinion on Burstcoin cryptocurrency
Cryptoblogger Steve, Twitter:
“Just a few months ago, everyone was chasing after Bitcoin due to a sharp increase in the exchange rate to $ 20 thousand. On this wave, all crypto assets began a sharp growth and a sharp rollback. Interesting situation withBurstcoin: at first there was a sharp jump, then a sharp rollback, but the wallet owners did not feel a sharp blow in cost, since one coin barely reaches $ 0, 12, so a rollback even to $ 0.02 will also not be noticeable. In general, stability will remain the same. ”
Some Burst members on Twitter say the following #Anozy:
“The coin has the same smart contract as Ethereum, but there is no need to spend huge sums on mining, there is enough power and a hard drive. Let the costs pay off in a trifle, but they still pay off, compared with the leaps that Bitcoin now has. ”
Forecasts and Prospects
Most experts believe that the growth in value of Burstcoin depends on the position of the largest cryptocurrencies in the top ten of the race.
At the same time, the forecasts are such that even in the most convenient scenario and without shocks, a currency can easily overcome the cost of $ 0.5.
But for now the unstable situation in the cryptocurrency market keeps the entire crypto industry in suspense.
If the situation does not change, then BURST will remain the subject of easy mining for those who do not want to use expensive technologies for mining.
If you want to feel what a real crypto business looks like, then be sure to try mining on BurstCoin.
At first, it is not expensive, the maximum that you need to buy a hard drive HDD.
Secondly no need to come up with any additional schemes how it is used
Thirdly, most importantly, even the simplest mining at home, on a simple computer will give you a monthly revenue of at least $ 20-30.
But this amount is enough to pay you the Internet and mobile phone. If you want to seriously engage in mining Burstcoin, you will have to study in detail the industrial cryptocurrency pool.
In the world of cryptocurrencies, original, and sometimes even unique, projects often appear. Burst coin is one of those. It is both a cryptocurrency and a payment system, which is based on blockchain technology.
This is not to say that this project is new. This is not at all true, because it was presented to the public back in 2014. This happened on the bitcointalk.org forum, where the site was described as an Nxt-based project. The start-up turned out to be very interesting and immediately attracted the attention of both experts in this field and absolute beginners who simply understand the benefits of using new technologies in various fields.
Burst cryptocurrency can really help a lot. Although first you need to know more about it. For example, about the algorithm by which a coin is created. It is called Proof of Capacity (POC). It works on the basis that miners use free space on computer storage devices. This eliminates the much more energy-intensive computational calculations, even if they are popular today. At the same time, the energy requirements for mining Burstcoin are minimal. That is why this coin has a great future.
Burst cryptocurrency story
Before considering information about cryptocurrency, we will tell you about the history of Burstcoin. So, if we talk about the literal translation of the name of this crypto asset, the coin is called "explosive".
The first mention of this project dates back to the tenth of August 2014. The announcement was posted on the bitcointalk resource, but this is not all that the history of this cryptocurrency boasts. Conventionally, in the history of the development of this platform, there are two directions:
- The first period is development. It was about him that we spoke when we mentioned about. At this stage, the coin was first talked about (when the announcement of the project was published). Also at this moment the working title of the project “Burstcoin” was announced. Although this stage had its own distinctive features. In particular, the developers did not provide for an IPO. That is, they did not want to use the public offer. But ICO premining was not launched either. They managed to create an open working code, which was accessed by all participants in the process;
- The second period is innovative. It paid attention to the implementation of the new Proof of Capacity algorithm. In addition, at this stage, it was possible to realize the work of Turing-smart smart contracts. That is, they started using automatic transactions earlier than including them in Ethereum or Counterparty. Among the innovations included in this period, one can single out the use of ASST technology. Thanks to this addition, it became possible not to use third-party services in transactions. Most often, this intermediary is the exchange or exchanger, so thanks to this site, you can get rid of it. The first successful Cross-chain transaction was between Burstcoin and Qora.
Each period in the history of this cryptocurrency was independent. It developed, taking into account only its factors and causes, resulting in a multifaceted project. Although the rate of Burst to rubles is now only 0.9449, but happiness is not in money. Not earnings became the basis for the coin, but the effectiveness of its use.
In practice, the use of the smart contract technology of this cryptocurrency has been demonstrated as a decentralized lottery. It became the first program in the world that was launched on the blockchain, and at the same time, the reliability of its decentralization was not in doubt.
Technical features
Consider a brief technical basis of this cryptocurrency. It has the following characteristics:
By the way, considering the last paragraph, you need to take into account that the cost of the coin is too small, because not all trading floors are ready to include this token in the trade.
Burst cryptocurrency mining
Having received a Burstcoin wallet, it's time to accumulate tokens on it. The easiest way to get them is to use mining. Burstcoin uses a completely new algorithm for mining called POC for mining. The creators of this algorithm are Stefan Dziembowski, Sebastian Faust, Vladimir Kolmogorov and Krzysztof Pietrzak.
For everything to work out, a mining program must generate pieces of information called “ Plots". Therefore, they must be saved on the hard drive. The mining speed depends on the number of these rafts. That is, the more space on the hard drive used for computer mining, the faster the mining of Burstcoin will take place.
In addition, deadlines must be taken into account (results in the form of time intervals returned to miners). Which of the miners has the minimum deadline, then receive a commission and a reward for the created block.
When the deadline is confirmed, computer resources can no longer be used until the formation of the next block begins. Thanks to this, computer resources are allocated very competently and do not require the use of a large amount of energy. Because Burstcoin has a well-deserved title as the most energy-efficient cryptocurrency.
The entry threshold for Burstcoin mining is minimal. Today, you can even mine on Android, that is, it is not necessary to have a computer. Let's consider how to configure cryptocurrency mining in solo mode:
And if conventional mining does not suit you, you can use the pools for mining. But before choosing a resource, it is advisable to calculate the profitability of Burst mining on a calculator. We can recommend 2 resources: http://burstcoincalculator.com and http://blocks.fastpool.info/calculator. Nevertheless, this cryptocurrency is relatively cheap and investments may not pay for themselves.
Cryptocurrency exchange rate Burst
Burst has a low rate. Whatever side you look at, the coin is far from the most expensive. Over the entire period of its existence, the cryptocurrency was able to achieve a maximum capitalization of $ 219,527,892. This result is shown by the Burst chart on the CoinGecko website. This happened on January 6, 2018. On this day, the maximum rate of Burst against the dollar was 0.1219 usd.
At the moment, it has already decreased markedly and amounts to $ 30,903,958. This is much less than it was, but given that the course began to jump only in the spring of 2017 (starting in April), even such indicators are very encouraging. Until that moment, the price of Burstcoin was approximately 0.009 usd. Today, the rate of Burst against the dollar is 0.01717 usd, and the price of Burst against the ruble is 0.9787. But keep in mind that this indicator may vary depending on which exchange you want to exchange Burstcoin on.
# | EXCHANGE | COUPLE | COURSE | VOLUME FOR 24 HOURS | VOLUME% |
1 | Upbit | BURST / BTC | 0,01698 $ | 720 926 $
42453055,998 Burstcoin |
43.74% |
2 | Bittrex | BURST / BTC | 0,01691 $ | 708 606 $
41913038,646 Burstcoin |
42.99% |
3 | Poloniex | BURST / BTC | 0,01706 $ | 207 600 $
12171059,151 Burstcoin |
12.59% |
4 | Livecoin | BURST / BTC | 0,01728 $ | 9 853 $
570117,179 Burstcoin |
0.6% |
5 | C-cex | BURST / BTC | 0,01736 $ | 1 363 $
78505,766 Burstcoin |
0.08% |
6 | C-cex | BURST / DOGE | 0,01711 $ | 13,59 $
794,463 Burstcoin |
0.0% |
7 | Upbit | BURST / KRW | 0,01689 $ | 0,08191 $ | 0.0% |
8 | C-cex | BURST / LTC | 0,07088 $ | 0,000 $ | 0.0% |
9 | C-cex | BURST / USD | 0,03213 $ | 0,000 $ | 0.0% |
Forecasts and Prospects
Many experts believe that the prospects and plans for the future of Burstcoin in 2018 will depend on the position of the largest cryptocurrencies in the world. Judging by the situation that we could observe last year, this opinion is not unfounded. If you compare the growth graphs of Bitcoins and Burstcoin, you can see a clear pattern. For example, the peak value of Burstcoin coincides with the period when Bitcoin has grown to its maximum.
Basically, forecasts are made in relation to the dollar. It is also possible to find out the growth prospects of Burst against the ruble. So, according to recent forecasts, the most favorable circumstances can trigger a coin growth of up to $ 0.5 this year. This means that in rubles the price of the token will fluctuate somewhere at the level of 29 rubles.
But this prediction is inaccurate. Do not forget that forecasts by the end of 2018 may change, because the unstable situation in the cryptocurrency market keeps the entire crypto industry in constant tension. For now, you should not consider Burstcoin as something more than a subject of easy mining. He does not need expensive technologies, so having several tokens in reserve will not hurt. Suddenly, someday they will rise in price. Maybe not this year, but it is quite possible.