Burst Dymaxion: Linux of Blockchain Proof-of-Capacity (PoC) Project?

With smart contracts gaining more and more popularity, there have been many platforms that have tried to attract users by offering blockchains with certain revisions that would allow better deals. One of them is called Burst Dymaxion, and this one offers a truly distinct experience thanks to various unique mechanisms and features.

About Burst Dymaxion

Smart contracts have caught the eye of many traders and investors, and ever since then, there have been many platforms that were trying to improve on the system in order to provide customers with the best possible deals. One such platform, named Burst, has tried to do the same, but with much better results.

Burst's goal is to create a blockchain that includes special IOTA-like tangles that are fully customizable. Some of the biggest obstacles on the road to achieving this included issues like speed, scalability, and efficiency. However, Burst managed to overcome the issues through a combination of privacy features and unique solutions that include integration of both systems.

According to its whitepaper, Burst uses its cryptocurrency's blockchain as an underlying layer that allows opening an closing of transaction channels. This is similar to what Bitcoin tried to achieve with its Lightning Network proposal. The difference is that Burst uses IOTA-like tangles to achieve verification and propagation. Basically, Burst is taking the best features from various other blockchain proposals in order to make a new system that is suitable for the global use of cryptocurrencies.

Burst's Proof-of-Capacity Consensus Mechanism

In order to allow users to avoid large costs and to let them provide their computing power via hard drives directly, Burst has developed its own Proof-of-Capacity consensus mechanism. This makes it the only blockchain that allows users to achieve HDD mining.

Burst's reasons for creating PoC, instead of using Proof-of-Stake or Proof-of-Work like so many others include several things. PoW, for example, consumes a lot of energy, which causes it to create a lot of noise, as well as heat, which can, in turn, damage the hardware. PoW needs non-reusable hardware, which makes it a more costly option, which will ultimately lead to the centralization of the process of mining.

As for PoS, it is not the best when it comes to mining rewards, nor for initial distribution. Initial distributions come through crowdsales, airdrops, and ICOs, which are made for that purpose.

Instead, Burst uses plots, which are small data chunks that allow energy-efficient mining that only takes 0.0024 kWh. This is an extremely low amount when compared to Bitcoin, for example, which uses 1037 kWh per each transaction. Through PoC, Burst is hoping to achieve real decentralization by allowing users to equally contribute when it comes to power within the network.

Burst Plans to go for Infinite TPS

As stated earlier, Burst blockchain will serve as a base layer when it comes to toggling the built-in tangles. That way, it will allow for a basically infinite number of channels that would use P2P payments to operate outside of the main chain.

Additionally, Tangles are completely customizable, and can be changed to be in accordance with the requirements regarding validation, the size of the network, and alike. Not only that, but they can also exist only temporarily, or permanently, according to the need. If the network was to be used by exchanges, banks, or other institutions that deal in payments, the tangles can be set to be permanent, which would speed up the process, instead of customizing them each time.

By using such arbitrarily scalable and independent tangles, Burst can basically achieve an infinite number of transactions per second.

Another addition to these tangles will include zk-SNARK technology belonging to Zcash's blockchain, as well as ring signatures introduced by Monero. That way, users will get the concealment option whenever they choose to create a tangle. More than that, the users will also have the ability to make their payments completely anonymous, if that is what they wish.

The only question that remains is how will Burst achieve the final version of Dymaxion? The answer is – hard forks. Three of them, to be precise.

The first hard fork was scheduled for June 11 of this year, and the second one is expected t make Burst Dymaxion fully enabled. The third, and final hard fork will allow the platform to enable PoC3, which is a PoC update that will provide users with the ability to mine important data that will still remain intact, and available to the future miners.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,468FansLike
2,795FollowersFollow
4,196FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Bitcoin’s Latest Move Means Market Treating it as a “Risk-on Asset”

In the past two days, bitcoin finally saw some action. After being stuck in a rut for weeks, BTC/USD recorded slight greens to make...

IRS Criminal Investigation Division Wants to Track Privacy Coins, Layer-2, and Sidechains

It has been no secret that the top federal law enforcement agency under the U.S Department of Treasury, the Criminal Investigation Division (CI), is...

US Court Tosses Appeal in Child Exploitation Case; Accessing Coinbase Account Didn't Violate Fourth Amendment Rights

Richard Gratkowski, convicted of purchasing and receiving child pornography, and accessing websites with an intent to access child porn, was sentenced to 70 months...

Lebanon’s Fiat Currency, the Lira, Drops 50% of Its Value in 10 Days Due to Hyperinflation

Lebanon's financial crisis is only deepening with each passing day, as the country is engulfed in hyperinflation. An unofficial report suggested that the value of...

Bitcoin-based Startup Zap Opens Strike for Public Beta And Plans to Release Visa Rewards Card

Jack Mallers, Zap founder, revealed on Thursday that Zap’s Strike product, which enables individuals to receive Bitcoin in US dollar form through direct bank...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today