Burst is a peer2peer decentralized platform and a digital cryptocurrency forked from NXT in 2014. It is designed to support smart contracts that are based on the blockchain technology and, therefore, providing standard features for decentralization, anonymity, and advanced cryptography. Burstcoin departed from the common proof of work (PoW) and PoS (proof of stake) consensus protocols to a new algorithm model referred to as proof or capacity (PoC). This algorithm utilizes the empty space on the node’s hard drive for mining. The development team has even indicated it will make it possible to mine the coins with their phones. Burst was founded in 2014 by an anonymous developer who disappeared about a year later. The cryptocurrency project was left in the hands of the community that had to push the system’s development and mobilizing resources. In 2016 and part of 2017, the project gained some momentum when more people started developing an interest in it. In the summer of 2017, the PoC Consortium joined the group and everything fell back to the rightful track.
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