Burstcoin - Solution To BTC's centeralized mining

In my previous post, I have mentioned a new mining algorithm which I named Ipow in order to decentralize mining, but than there is a coin that is already decentralized because of its mining medium.

It is Burstcoin. Burst uses proof of capacity algorithm, it is the first and the sole coin that uses this algorithm. Proof of capacity lets one use their HDD in order to mine. Hard drives are widely available, cost-effective and energy efficient. Being able to mine with HDD's means no need for expensive machinery like asic-miners, or high end GPUs. HDD's also consume very low electricity and do not have heating problems therefore mining costs are not significantly affected by the varying electricity costs. It doesn't pay too much extra to mine in China vs somewhere else with higher electricity costs.

*1

Burst is a fork of Nxt, and was officially introduced on August 10, 2014. It has a decent history and history -aka past blocks- makes blockchains safer. Recently Burst has a lot of development activity. There is the Proof of Capacity Consortium behind this increased activity. On December 27th 2017 Burst literally announced a brand new whitepaper.

*2

It is called the Burst Dymaxion. There is a lot to be done in order to achieve what is mentioned in the Dymaxion whitepaper but when it will be done Burst will be on a different level. It will have the proof of capacity as its backbone but at the same time it will take the most important aspects of Iota, Lightning Network, Monero and Z-cash. Burst will do its offchain operations using a Directed Acyclic Graph. DAG seems like an unfamiliar term however DAG is basically what Iota calls tangle. So offchain operations (LN) will be free of charge and instantaneous.

Dymaxion will also implement ring signatures and zk-Snarks to the DAG's. These will be used to anonymize transactions similar to what Z-cach (zk-Snark) and Monero (ring signatures) does.

Last but not least, Burst Dev's announced that they are not selling before Burst hits 1 dollars/coin. I am also going to hodl this coin and see what the Dymaxion brings to the table.

Sources:

*1 https://twitter.com/WallpapersDB/status/945957029017018368
*2 https://dymaxion.burst.cryptoguru.org