Pressrelease about BURST coins

burst-turk

 

Introducing Burstcoin

The new Proof of Capacity coin

Summary

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.


Specs

Launched on August 2014
NXT based
Proof of Stake removed
No Premine
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.

References

http://burstcoin.info – Official website
http://burstcoin.eu – block explorer / calculator
http://www.burstforum.com – Official Burstcoin forum
IRC: Freenode, #burst-coin
Tutorial  about BURST mining

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If you find this article worthy then share some Bitcoins with me:
1PXWTtyAZ5zjrV1PuGGzrZJoJqeZS34g7d

or BURST coins:
BURST-X2MY-DV84-GB2J-HCXZE

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Ronald Wiplinger
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