Burstcoin asset exchange

The Burstcoin asset exchange, distinct from the Burstcoin marketplace, is a built-in decentralized peer-to-peer exchange which eliminates trust points, trading fees, and commissions.  No third party exercises custodial control and no one in a position to abscond with entrusted funds, misappropriate them, or otherwise lose them due to poor business practices.

The Burstcoin asset exchange builds upon the concept of colored coins, a class of methods for representing and managing real-world assets on top of a blockchain.  A particular coin can be colored with the designation of assets such as property, stocks, bonds, shares, or even intellectual property.  The asset exchange is particularly useful for exchanging digital assets and can be used to trade almost anything of value without relying on agencies or other organizations.  The Burstcoin blockchain is immutable, impossible to counterfeit, and transparent. These strengths make it a trustworthy record of transactions.

Assets listed on the asset exchange are liquid by nature.  They can be easily purchased, resold, or traded.  Applying standard business analysis in evaluating the offerings can lead to capital growth for investors while providing the necessary capital for startups or growing businesses.  In addition to share price increases, other potential ways that creators of assets can reward investors is through dividends and distributions of net profits.

An additional benefit to using the Burstcoin asset exchange is its inherent simplicity.  It is quick and easy to create an asset.  Below you will find the information necessary for using all of the important asset exchange features.


I want to run a business. I issue an asset (let’s call it ABCD). I set the quantity to 1000. I announce that I will sell ABCD for 20 Burstcoin each and will pay 5 BURST of monthly interest within the next six months. I create an ask order — 1000 ABCD for 20,000 Burstcoin.

You create a transaction that sends me 500 Burstcoin for 25 ABCD. It’s up to you what you do with your 25 ABCD.  You could place an ask order and sell them for 27 BURST realizing a profit.  Regardless, each month I will check the blockchain to see who owns ABCD.  I will send each current owner 5 Burstcoin for each ABCD that they hold.

Wallet Interface

The asset exchange is accessible within the Burstcoin wallet.  If your wallet was installed using QBundle you need only to start the wallet and connect to your Burstcoin account. If you are using a standalone wallet (currently all wallets installed without using QBundle), the exchange is accessed using a standard web browser to connect to your localhost (wallet).  To connect, enter   into the address bar.

Select asset exchange  To observe an asset, select add asset and enter the asset id or the issuing account id.  Your selections will be listed along with information such as a description, buy and sell orders, quantity, etc.

You can check the transfer history of assets in your possession which are found under my Assets.  This includes assets that you have purchases as well as any assets that you have issued.

You can check that status of open order by selecting open orders.  From this list you can cancel any order.  Order cancellations are not instantaneous as the order cancellations must be propagated through the network.  There is a possibility that your order may fill while this process is proceeding.

To issue an asset, select issue asset.  The form for entering the asset information will appear.

There are several mechanisms for paying and rewarding your investor.  To do so, you will use one of three asset distribution modules:  dividends, automatic asset distribution, or share swap.  Select payout dividends to choose one of the three modules.

By default, the asset exchange does not list any asset. You must locate the assets that you wish to follow and add them to your list using the add asset button.  There are several online resources (asset exchange explorers) being developed to help rank assets in meaningful ways, such as by volume, number of trades, or another useful metric.  These resources include a variety of filters to help you locate assets of interest.  After locating an asset, you can bookmark it your list.  Asset exchange explorers are listed in the online resources section.

Note: Incognito mode (or its equivalent) is not supported for adding assets to your watch list.  In order for your list to retain the asset that you add to it, your browser must be in normal mode.

Following is the main asset exchange area showing a list of assets being tracked and menu items for interacting with these assets.  (If you owned any shares in these assets, they would be highlighted in yellow (not shown here). 

Image showing tracked assets in the Burstcoin asset exchange

By selecting an asset, the interface area will automatically display the corresponding information. This includes the number of tokens that have been created (“quantity”), how divisible is the token (“asset decimals”), a brief description of the asset, who created the asset (“account”) and the asset identifier (“asset ID”). This information is critical, in fact the asset names are non-unique. What this means is that there can be multiple assets that have the same name.

The cost of issuing an asset (1000 BURST) should discourage people from spamming the exchange with assets whose only purpose is confusion and abuse. Without entering this worst-case scenario, it is reasonable to assume that perfectly legit users may create assets of the same name. Therefore a good degree of vigilance before buying is always beneficial.

In order to buy an asset, follow these steps:

  • Select the asset from the list.
  • Click on “Buy *Asset Name* with BURST
  • Quantity: define the number of assets that you are interested in buying.
  • Price: set the amount you are willing to pay.  Warning: “price” refers to the cost of a unit of tokens. So, by entering 10, you are willing to pay 10 BURST per token.
  • Fee: define the fee (the minimum fee is .00735 BURST).
  • Select buy.
  • Inter your passphrase and select buy asset.

My assets

In this menu, all of your confirmed assets will be displayed including the assets you have issued and those you have obtained through trading.

Image of menu showing confirmed assets that you have issued or obtained through trading

Assets are transferable using the following procedure:

  • Find the asset you wish to transfer Under My Assets
  • Click ‘transfer’.
  • Type the recipient.
  • Select the quantity that you want to transfer.
  • Add a message to the transfer if appropriate.
  • Complete the following fields:
Image showing fields for transferring assets in the Burstcoin wallet

RECIPIENT – The account you wish to transfer the assets to.

Mandatory: this field is mandatory.

QUANTITY – Specify the amount of assets you wish to transfer.

Mandatory: this field is mandatory.

Limits: there is no upper limit.  You can transfer all of your assets. The minimum amount you can transfer depends on the nature of the asset. In particular, it depends on what has been defined as decimals. For 0 decimals, the minimum would be .0075 Burst.  For 1 decimal, it would be 0.1 tokens and so on.   (research tag).

ADD MESSAGE – attach a brief message to the transfer.

Optional: this field is optional.

Characters allowed: it can contain any Unicode characters but should be URL-encoded. Maximum length of 1000 characters.

FEE – Set the fee you are willing to pay for the transaction.

Mandatory: this field is mandatory.

Limits: there is no upper limit. However, the minimum fee is .00735 BURST.

DEADLINE – Set how long you are willing to wait before the request gets automatically deleted.

Mandatory: this field is mandatory.

Expressed in hours

SECRET PASSPHRASE – Enter your passphrase.

Mandatory: this field is mandatory.

Open Orders menu – This menu shows all of your open orders.

Image showing account holders open orders in the Burstcoin wallet

Order Cancellation:

You can cancel an order at any time.  However,

  • The process is not instantaneous.  Your order may be accepted before your cancellation reaches the network.
  • Cancellation orders incur a minimum transaction fee.
  • An order that is in the process of being canceled will appear in red in the ‘Open Orders’ menu.


Issue asset

Under this menu, you can issue assets yourself. These will be publicly available on the Asset Exchange where they can be traded for Burstcoin vice-versa. 

NOTE:  When you issue an asset, you will not be able to modify any of the fields, ever. Be certain that all of the information is correct.

Image showing field for issuing an asset in the Burstcoin asset exchange

ASSET NAME – The name of the asset you intend to issue. This is also the name announced to other traders, allowing them to find this asset.

Mandatory: you cannot issue an unnamed asset. Names are non-unique: multiple assets can be issued with the same name.

Note: for this reason, it is important to pay close when buying or selling!

Length: between 3 and 10 characters.

Characters allowed: uppercase letters, lowercase letters, and numbers.

DESCRIPTION – In this field, you can briefly describe the asset being issued.

Mandatory: this field is mandatory.

Characters allowed: it can contain any Unicode characters but should be URL-encoded. Maximum length of 1,000 characters.

QUANTITY – Specify how many tokens you intend to create.

Mandatory: this field is mandatory. Must be a whole number

DECIMALS – This field defines the divisibility of the token. As an example, by defining 2 decimals, the minimum amount of tokens you can sell or buy is 0.01.

Mandatory: this field is mandatory.

Limits:  0 to 8 decimals. The latter corresponds to the minimum of 0.00000001 tokens.

FEE – Define the fee related to issuing the asset.  1,000 BURST is the minimum required to issue an asset (to avoid spam assets).

Mandatory: this field is mandatory.

PASSPHRASE – Assets belong to the person who issues it. Therefore it is required to enter your own passphrase. It will not be broadcast.

Mandatory: this field is mandatory.

Note: assets belong to the person that creates them, but they can be bought, sold and transferred.

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