Burst was officially introduced on the 10th of August 2014 with the goal of solving other cryptocurrencies’ biggest problems : lack of decentralization, waste of energy, unfair releases, supremacy of big miners and corporations. It is the first and only cryptocurrency secured by the Proof-of-Capacity algorithm.
The critical difference between Proof of Work and Burst’s Proof of Capacity is that instead of needing ever more expensive, power hungry processors and graphic cards, it uses inexpensive, low-power hard drives. Proof of Capacity is inherently more secure, and trimmed versions of the blockchain are easier and more secure as well. The other biggest advantage that Proof of Capacity has going for it is its mining, working like a built-in coin faucet in the form of hard drives that allow anyone to earn free coins in exchange for providing extra security for the network.
The energy requirement for Burstcoin mining is minimal compared to most other cryptocurrencies, making Burstcoin one of the most energy efficient within the field of proof-based cryptocurrencies. Storage space is required however: as of March 2018, the estimated network size approached 341,000 terabytes.. The Nxt blockchain platform allows for development flexibility, ensuring developers freedom to create their own applications. In this sense, Burstcoin can be considered as a next-generation cryptographic application project (often called 'cryptocurrency 2.0') in contrast to the first generation cryptocurrencies like bitcoin.
Burstcoin is currently being developed by the PoCC (Proof of Capacity Consortium) since December 27th 2017. The PoC Consortium developers released a new white paper titled The Burst Dymaxion. It describes the implementation of a tangle-based lightning network allowing for arbitrary scalability and anonymous transactions. The Dymaxion operates with payment channels opened using the directed acyclic graph (DAG) technology on top of the Burst blockchain functionning with the Proof-of-Capacity protocol.
Yunus is not playing around 🔥 Clients bringing in nice profits on a Monday morning! That's what I like to see 📊💰💢 p.s I will be flying back home tonight guys 👍
If you're interested in getting into forex trading, dm me for more info 📩
Beginner & experienced traders profit from my service, why shouldn't you? -
Litecoin starts the week with a supply gap
Listings of #Litecoin#cryptocurrencies beginning of the current week can not be considered successful. The large supply gap caused the price to re-test the last local minima located in the price region of $145. If they are broken, the way to attack a key area around $100 opens up.
In the event of a downward scenario and a potential test of the support area of the support, it will be a good opportunity to take a long position.
An alternative scenario assumes defending the recent minima and increases at least closing the price gap around $160.
Join our Academy: https://www.nagamarkets.com/academy/
Risk Warning: The contents of this #analysis is for informational purposes only and does not constitute #investment advice.