The new Proof of Capacity coin
Burstcoin is the worlds first HDD mineable coin. It is based on NXT and uses a new algorithm, Proof of HDD Capacity (POC) for mining.
It is currently traded on Bittrex, c-cex and Poloniex.
There a several ways to mine. At the beginning it was just mining with the CPU, then somebody figured out that a graphic card is more useful and faster to do these monotone calculations.
Then they developed ASICs to do it even more faster.
However, the difficulty increases and so better machines are necessary and all these new machines have something in common: They need more electricity. Somebody already joked and said, we are buying the cryptocurrencies from the power companies.
There are also different algorithm and schemes like PoW (Proof of Work), PoS (Proof of Stake) and now also PoC (Proof of Capacity).
Exactly the last one I will explain more in detail:
Continue reading BURST – the other way of mining