Current features of Burst include:
- Asset Exchange
- To exchange cryptocurrencies and other digital assets until now, you had to sign up for an account on a centralized platform such as Kraken/Bter/etc, transfer your assets to them and then pay them transaction fees. This brings in a large concern: a centralized exchange could just bail with everyone's deposits. Burst has developed a peer-to-peer exchange into the software to allow for decentralized trading which eliminates this trust point. It also eliminates trading fees.
- The same technology that allows you to trade BURST for many other digital assets can allow you to trade BURST for almost any commodity.
- This feature is based on the "colored coins" concept. Since the blockchain provides a trustworthy record of transactions, it can be leveraged to provide a record of trade of items other than BURST. To do this, Burst allows the designation or "coloring" of a particular coin, which builds a bridge from the virtual crypto-currency world to the physical world. The "colored coin" can represent property, stocks/bonds, commodites, or even concepts. As a result, the Burst network could be used to trade almost anything.
This feature provides a protocol for decentralized, peer-to-peer stores for any kind of digital goods.
Burst implements an alias system that translates alphanumeric text into almost anything: Burst account addresses, email addresses, URLs, phone numbers, SKU codes, and more. This not only gives Burst the ability to function as a Decentralized DNS system, but adds additional possibilities for mapping short names to other entities.
This feature allows Burst users to send small amounts of data through the decentralized network. These data can be encrypted. The term "message" is loose: this feature can be used to send simple text messages, but can also be used to send up to 1000 bytes of any data. As a result, it can be used to build file-sharing services, decentralized applications, and higher-level Burst services.