Getting Started

From understanding Burstcoin security to selecting a wallet, the Getting Started guide provides the information needed to succeed with Burstcoin.

Software

A great deal of technical knowledge is not required to use the Burstcoin network’s collection of open source software.  The definitive collection, including wallet software, is located in the Burstcoin Software Library.

Documentation

For more information on any of the topics listed below, or technical documents, visit the Burstcoin Documentation Project.  Here you will find everything there is to know about Burstcoin.  You can even contribute new documentation to the project, or recommend improvements.

Faucets

To activate a new wallet for Burstcoin mining or to receive a transfer from the Bittrex exchange, visit the Burstcoin Community Faucet list.

FAQs

To assist with supporting new users of Burstcoin, this section contains Frequently Asked Questions. You can help curate this section by visiting the documentation project section.

Burstcoin

Open-source decentralized cryptocurrency and blockchain platform that connects people, companies, and financial institutions. It allows you to move value – according to your own rules – within a scalable, green, and customizable ledger.

Wallets

Burstcoin wallets are available in both lite node and full node versions.

Presented here are the most popular and well supported options. 

For a more fine grained selection of files, please visit the software library.

Online wallets can be found in the online services section.

Phoenix

New!  Lite node wallet featuring cross-platform architecture and single click installation.

BRS

Full node wallet containing the complete Burstcoin protocols and blockchain record.

Burstcoin Phoenix Icon

What makes Burstcoin unique?

Burstcoin is one of the most vibrant networks propelling the advancement of blockchain technology.

It was the first cryptocurrency to use the Proof-of-capacity consensus algorithm, a sustainable alternative to the proof-of-work model.  Proof-of-capacity is more energy efficient than proof-of-work and more fair and decentralized than proof-of-stake.

Burstcoin was the first cryptocurrency to implement Turing complete smart contracts, and the first to run a program on top of a blockchain.  It also has the distinction of being the first to successfully perform an Atomic Cross-Chain Transaction (ACCT) successfully.

Burstcoin is fueled by its community in the most decentralized and organic fashion, providing a foundation for stability.  Valuing sound fundamentals over short term gain and taking a long view of the markets, development has remained unaffected by volatility.

Development

Burstcoin development is community-based.  Leadership is provided by several organizations that were formed to address specific areas of development.

Whitepaper

Burstcoin is a code fork of NXT, which is a fork of Bitcoin.  There are several constituent white papers.  The official whitepaper of Burstcoin is the Burst Dymaxion.

Roadmap

With recent accomplishments, current activities, near-term, and long-term goals, the Burstcoin Roadmap is the high-level planning document guiding Burstcoin development.

Online resources

The online resources section is a collection of hosted services that have been created by community members and organizations.

  • Network Explorers
  • Online Wallets
  • News
  • Forums
  • Branding Material 

Generally, these services do not require installation and are accessed online.

History

From its creation by an unknown developer thru today, Burstcoin has had an eventful history.  Here you can read about the history of Burstcoin.

Burstcoin's future

As an early cryptocurrency, Burstcoin has weathered the turbulent cryptocurrency market while being continually refined throughout its eventful existence.  It has emerged enjoying a great deal of trust in its systems, thought to be stronger and more reliable than other networks. Burstcoin development aims to build on this history.

The future of Burstcoin was outlined by developers in a white paper, The Burst Dymaxion, which describes the implementation of a tangle-based lightning network on top of the Burstcoin blockchain. This lightning network, when fully implemented, will allow Burstcoin to scale automatically in response to growth in its network’s user base.

Many details of this plan have already been implemented successfully. Completion will require a great deal of time and effort, but this genuinely stunning innovation remains Burstcoin’s direction — nothing less than a processing capacity capable of handling the total of the world’s non-cash transactions.

Burstcoin exchanges:

NamePairs
BittrexBTC
StexBTC
QBTCCNYT
UPbitBTC
LivecoinBTC
Xchange.meBTC, ETH
ETERBASEBTC, ETH, USDT, EBASE, XBASE
IndacoinUSD, EUR, RUB, (Visa & MasterCard)

* Bittrex requires public key activation on the blockchain for withdrawals.

Exchange Integration:

NameBurst
ticker:BURST
decimals:8
maximum supply:2,158,812,800
algorithm:Proof-of-Capacity
developers:Burst Alliance
release:no ICO, airdrop, or premine

Sustainable

Burstcoin is a green cryptocurrency which uses little power beyond that necessary for initial setup.

Burstcoin’s energy efficiency stems from its use of storage space rather than raw computational power.

This level of efficiency is similar to Proof-of-Stake (PoS) systems, but a significant stake of this currency is not required in order to participate.

Deflationary

The total number of coins that can ever be mined is 2,158,812,800.  The smallest denomination is 8 decimals (.00000001).

Alias system

Burstcoin has an alias system that translates / associates alphanumeric texts.  It can operate as a decentralized DNS (domain name system) and has many other real-world use cases made possible with access to its public blockchain.

Asset exchange

Based on the concept of “colored coins”, the Burstcoin asset exchange is a peer-to-peer exchange built directly into Burstcoin’s software.  It allows for decentralized trading while eliminating trust points and third-party trading fees.

Colored coins

Individual Burstcoins can be set aside and conserved, allowing parties to acknowledge them in various ways.  They can be used to represent arbitrary digital tokens, stocks, bonds, property, etc.  They can even represent real-world objects.  Colored coins can be traded on the Burstcoin network and exchanged for whatever the colored coin represents.

Byzantine fault-tolerance

To help in building dependable protocols. The focus is on identifying honest nodes by putting an upper boundary for maximum tolerance.

Offline transaction signing

A Burstcoin account’s private key (passphrase) can be held offline and never exposed to the internet. This security feature allows individual transactions to be signed on a disconnected device.  A single-use signature is generated which can be transferred to a connected device and broadcast to the network for processing.

Naturally decentralized

Naturally ASIC proof.  Hardware requirements are minimal, inexpensive, and readily available in all parts of the world.

No special equipment is needed to mine Burstcoin, to operate a public node, or to execute transactions.

Even a Raspberry Pi can run a full node.

Internal escrow

An automated intermediary, neither sender nor receiver, governs fulfillment of contract terms.

Marketplace

This feature provides each account with a decentralized storefront, an ideal market for selling digitally transferrable products.

Crowdfunding

Anyone can create a crowdfunding campaign on the Burstcoin platform.

Dynamic transaction fees

Transactions, including multi-out transactions, can be made for a single minimum transaction fee when network activity is low. The minimum fee is currently .00735.  Burstcoin uses a slot-based transaction fee schedule.

Arbitrary messages

This feature of Burstcoin allows for sending up to 1,000 bytes of data, encrypted or as plain text, through the decentralized Burstcoin blockchain.  This architecture forms a foundation on which to build decentralized applications, distributed file sharing, as well as higher level Burstcoin services.

Equitably distributed

Released publicly with advance notice, without pre-mine, without airdrops, and without an ICO (initial coin offering).

Every Burstcoin in existence was mined beginning with the Genesis block.

Shabal 256

Provably secure cryptographic function selected due to its slower and heavier characteristics which make it well suited for pre-computation and storage.

Proof-of-capacity

Hashing functions securing the network are pre-computed, written to storage, and are retrievable for reuse in the mining process indefinitely.

Directed Acyclic Graphs (DAG)

This computational data structure features finite directed graphs with no directed cycles.

Encrypted messaging

Secure on-blockchain peer-to-peer communication.  Communications are decrypted using the receiving accounts passphrase.

Global infrastructure

Payments and transfers are instant and anonymous over a powerful shared worldwide infrastructure.

Impenetrable security

Protect your private key, and Burstcoin can protect your assets with 128 or more bits of entropy.

Atomic Cross-Chain Trading

A fundamental concept of decentralized exchanges pioneered by Burstcoin and a significant focus for its future development.

Open Source

All Burstcoin software is open source.

Burstcoin use cases

Burstcoin has all of the core features that are needed to run decentralized programs and services on its public blockchain.  The following are native to its code base:

  • smart contracts, a Turing complete system that reliability executes code exactly as written with no possibility of failure or downtime.
  • decentralized marketplace, peer to peer buying and selling without third party entanglement, fees, or commissions.
  • decentralized asset exchange
  • alias system, blockchain based association of numerals and text similar to the concept of variable assignment
  • arbitrary messaging, a system of messaging that sends actionable message through the system for a variety of programming purposes or simply communication.
  • encrypted messaging, messaging secured by military grade cryptography
  • colored coin functionality, a basis for facilitating token based ownership of physical assets

These and many other Burstcoin features can be leveraged to create robust business solutions.

A current development focus is to make Burstcoin’s smart contract functionality more accessible by creating code libraries that connect the underlying byte code with an easy to use programming language.  Another is leveraging the marketplace and asset exchange functionality to create a decentralized peep-to-peer cryptocurrency exchange.

Burstcoin is the native coin of the Burstcoin network.  Decentralized programs of every sort can run on its public blockchain.  With front-end development, there is no limit on the design for online commercial storefronts, business work flows, inventory control systems, etc.  All of these services are sustained by transaction fees which are paid to miners who run the code and process transactions–transaction fees that are only payable with Burstcoin.

Another use case for Burstcoin is as a form of investment and savings.  Burstcoin is expected to deliver a high return on investment (ROI) over time.  Historically, Burstcoin has focused on developing its technology rather than marketing.  As a result, there exists a nearly ground floor level for initial investment through regular market rate purchases.  The strength of the project and its development community is evidenced by the accelerated pace of innovation Burstcoin has realized since the general cryptocurrency market downturn in December of 2018.

Why was Burstcoin created?

Burstcoin was created to solve functional problems threatening the growth and success of blockchain based cryptocurrencies, and the often overlooked environmental implications.

Proof-of-work has a place, but not as a competitive consensus algorithm.  For cryptocurrency, it is a gross misapplication of the “nothing-at-stake” principle.  Consensus algorithms do not “process transactions” in the traditional sense, but exist to deter attacks on networks and fraudulent modifications to a blockchain.  Burstcoin uses proof-of-capacity to secure its network.  With proof-of-capacity, the hashing algorithms used to secure the network are pre-computed and stored for retrieval and reuse in the mining process indefinitely.  This eliminates the need to expend raw computational power continually repeating the same hashing procedures over and over.

Bitcoin supports seven transactions per second, far less than the multiple thousands that can be processed by conventional leaders in the processing space.  Projects like Bitcoin have grown too large too quickly and no longer have the agility necessary for making the sweeping structural changes that are necessary to address scalability issues.  Burstcoin is developing its technology toward automatic scaling in response to growth in its network user base.  One solution is outlined in the Burstcoin whitepaper entitled The Burst Dymaxion. This proposes deploying a lightning network based on the smart contract protocol that is already part of Burstcoin’s core feature set.

To participate in cryptocurrency, users must understand complex principals, install software, register accounts, join exchanges, pay fees, and even verify personal details in some cases.  The end product of this endeavor is often ownership of an asset that has less utility than regular fiat currency, perhaps with the exception of investment potential.  To address usability, Burstcoin includes a decentralized marketplace for direct sales within its code base.  This is an emerging opportunity for businesses to expand their market along with the growing Burstcoin network.  Burstcoin’s decentralized market technology can be used to operate storefronts as elaborate as a front-end developer can imagine.

The proof-of-work protocol’s susceptibility to application-specific integrated circuits (ASICs) has resulted in mining process centralization.  The energy requirements and equipment costs allow only well funded individuals and corporate interests to participate profitably.  Burstcoin is naturally decentralized due to its minimal hardware requirements (off-the-shelf consumer grade computing equipment), and the ASIC resistance of its consensus algorithm.  No specialized hardware can give well-funded individuals an advantage.  Anyone with internet access can participate, even with project board equipment such as a Raspberry Pi.

Premined releases and ICOs dominate the cryptocurrency space.  These consolidate coins in the hands of insiders and put at risk the stake of anyone who subsequently mines or purchases these coins under regular market conditions.  Burstcoin’s position is that premined releases and ICOs are the antithesis of fair and equitable community-based coins.  For this reason, Burstcoin was released with advance public notice and every Burstcoin in existence was subsequently mined beginning with the Genesis block.

Thank you for your interest in this project.  To contact the development team or request assistance with anything related to the Burstcoin project, please click the icon above to visit the Burstcoin Discord Channel.  A member of the community will enthusiastically welcome you and provide whatever assistance is needed.

The Editor, Burstcoin Community Website & Documentation Project