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.
Launched on August 2014
Proof of Stake removed
4 minute block time
2,158,812,800 coins total
Block reward starts at 10.000 / block, then decreases 5% each month
Uses POCminer made for this coin
How does it work?
Instead of mining with an expensive CPU/GPU/ASIC, Proof of Capacity allows the user to mine with their hard drive disc space.
Miners create so called “plot” files on their hard drive disks that act as a hashrate. So bigger HDD space used, bigger hashrate.
The miner then periodically scans each plot to see if it can mine a block. Between these scans, the hdd and CPU can stay idle. Once the blocks are counted, the miner knows how long it will be before these blocks can produce a new block.
So mining takes only a little of electricity, cpu power and network bandwidth.
If you like the post, share it with your friends and social media (just click the social media buttons at the left side.)
If you find this article worthy then share some Bitcoins with me:
or BURST coins:
Leave a comment below!
(Checkout our other social sites at the right bottom)