Burst price is $0.02542374
Burst (BURST) is currently priced at $ 0.02542374, showing a +26.62% movement over the past 24 hours. Please note that cryptocurrency prices are extremely volatile and can rapidly change within moments.
Burst Coin, or simply Burst (BURST), is a unique digital cryptocurrency and an open-source decentralized blockchain platform that uses an innovative proof-of-capacity consensus protocol. This protocol allows miners to use their unallocated hard drive space to mine blocks, instead of using CPU or GPU power, as seen in traditional proof-of-work models, making the Burst network energy-efficient and accessible to anyone.
Burst was launched in 2014 by an anonymous developer and was the first cryptocurrency to use the proof-of-capacity consensus protocol. The anonymity of the developer remains a mystery, much like Bitcoin’s creator, Satoshi Nakamoto. Since its creation, the development and maintenance of the Burst network has been taken up by a robust and passionate open-source community.
The fundamental element that sets Burst apart from most other cryptocurrencies is its consensus model. Burst employs a proof-of-capacity consensus model, which means that mining power is derived from the amount of empty space a miner allots to the network.
Miners 'plot' their hard drive sectors with 'nonces', which are basically a series of generated numbers. Each block in the blockchain requires a specific nonce, which miners compete to find from their pre-plotted hard drives. The miner with the right nonce gets to add the next block to the chain and is rewarded with Burst.
This unique proof-of-capacity model reduces the energy consumption of the mining process and makes the Burst network highly resource-efficient compared to many traditional proof-of-work cryptocurrencies.
Probably the key highlight of Burst is its eco-friendly and energy-efficient approach to mining, thanks to its proof-of-capacity protocol. Traditional cryptocurrency mining can consume substantial energy, but Burst mitigates this by using unutilized hard drive space, making mining highly accessible.
Moreover, Burst features a highly decentralized structure. Any individual or entity with unused hard drive space can participate in mining, reducing the risk of centralization.
Burst also boasts smart contract functionality, enabling a wide range of decentralized applications (dApps) and agreement automation.
As of now, the circulating supply of Burst (BURST) is 2.1B out of the total supply of 2.2B.
Interested in buying Burst? You can purchase Burst (BURST) from several exchange platforms. The most popular platforms currently trading Burst include STEX, Livecoin, UPbit, Bittrex. As always, conducting thorough research and ensuring the security measures of these platforms are up to your standards is a must when dealing with cryptocurrency transactions.
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