Getting Started

From Burstcoin security to wallet selection, the Getting Started guide provides the information needed to succeed.

Software

The definitive collection of open-source and easy to use software is located in the Burstcoin Software Library.

Documentation

Visit the Burstcoin Documentation Project for more information.  Contribute new documentation or recommend improvements.

Faucets

Activate a new wallet for mining or to receive a transfer from Bittrex.  Visit the Burstcoin Community Faucet list.

FAQs

Supporting new users, this section contains Frequently Asked Questions. Help curate by visiting the documentation 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.

Phoenix

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

BRS

Full node containing the complete Burstcoin protocols and blockchain record.

The Burstcoin Community Website & Documentation Project's recent international visitors include:
The United States, Canada, Switzerland, Brazil, Germany, Slovakia, Russia, Vietnam, Malaysia, India, Italy, Argentina, Sweden, Macedonia, South Korea, Taiwan, Philippines, Australia, Iran, Hong Kong, Bulgaria, China, Japan, Singapore, Norway, Venezuela, Denmark, Croatia, Latvia, Cuba, Qatar, and Macau.

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.

It 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 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 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.

Roadmap

The Burstcoin Roadmap is a high-level planning document guiding development.  It outlines recent accomplishments, current activities, near-term, and long-term goals.

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 through today, Burstcoin history has been eventful.  Look for the McAfee tweet.

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. The development teams aim to build on this history.

Its future 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 the network 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 a development focus — nothing less than a processing capacity capable of handling the total of the world’s non-cash transactions.

Burstcoin exchanges:
Name Pairs
Bittrex BTC
Stex BTC
QBTC CNYT
UPbit BTC
Livecoin BTC
Xchange.me BTC, ETH
ETERBASE BTC, ETH, USDT, EBASE, XBASE
Indacoin USD, EUR, RUB, (Visa & MasterCard)

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

Exchange Integration:
Name Burst
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.

Its energy efficiency stems from using storage space rather than raw computational power.

This level of efficiency is similar to Proof-of-Stake (PoS) systems.  However, a significant stake in 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

The alias system 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 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 coins 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 blockchain 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 transaction fee schedule is slot-based. The minimum fee is currently .00735.  

Arbitrary messages

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

Equitably distributed

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

Every coin 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 precomputation and storage.

Proof-of-capacity

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

Encrypted messaging

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

Directed Acyclic Graphs (DAG)

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

Global infrastructure

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

Impenetrable security

Protect your private key, and your assets will be protected with 128 or more bits of entropy.

Open Source

All software is open source.

Atomic Cross-Chain Trading

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

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 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 Burst network.  Decentralized programs of every sort can run on this 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 is as a form of investment and savings.  Burstcoin is expected to deliver a high return on investment (ROI) over time.  Historically, the focus has been on developing the 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 that has been 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 precomputed 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 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 network.  This 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 do not conform to the ideal of fair and equitable community-based coins.  For this reason, it was released with advance public notice and every coin in existence was subsequently mined beginning with the Genesis block.

Discord Icon

Thank you for your interest in this project.  To contact the development team or request assistance with anything related to the 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