Burst: the 'cryptocurrency 2.0'
Burst was officially introduced on the 10th of August 2014 with the goal of solving other cryptocurrencies’ biggest problems:
- lack of decentralization
- waste of energy
- unfair releases
- supremacy of big miners and corporations
It is the first and only cryptocurrency secured by a Proof-of-Capacity algorithm. The critical difference between Proof of Work and Burst’s Proof of Capacity (PoC) is that instead of needing ever more expensive, power hungry processors and graphic cards, it uses inexpensive, low-power hard drives.
Burst addresses the problem of centralist tendencies that plague other cryptocurrencies by providing an ASIC-proof algorithm that utilizes standard off-the-shelf hardware accessible to everyone: hard drives in regular PCs
Burst requires per transaction about 1/400th of energy compared to bitcoin, this makes Burst not only an eco-friendly green coin, it also means you can use very low-end hardware to mine it. You can mine Burst with something as small as Raspberry Pi or BeagleBone black.
Because there is no need to buy expensive, specialized and often hard-to-get hardware, Burst is potentially accessible to everyone who owns a PC. And no matter how well funded some individual or organization is, they cannot outcompete regular miners with some specialized hardware.