Burstcoin

Burstcoin, now known as Burst, is a cryptocurrency that introduced a novel consensus mechanism called Proof of Capacity (PoC). This system utilizes hard drive space rather than computational power, differentiating it from Proof of Work (PoW) cryptocurrencies like Bitcoin. PoC relies on miners allocating storage space to plot files. The larger the plotted space, the higher the probability of mining a new block and earning Burst rewards.

The primary motivation behind Proof of Capacity was to create a more energy-efficient and decentralized mining process. PoW mining is notoriously energy-intensive, leading to environmental concerns and the centralization of mining power in the hands of those with access to specialized hardware and cheap electricity. PoC, by contrast, aims to leverage existing hardware (hard drives) and reduce energy consumption.

Burstcoin was launched in 2014 and has undergone several development iterations. Beyond its unique consensus mechanism, Burst has also focused on developing features that promote utility and adoption. These include smart contracts, decentralized exchanges, and various decentralized applications built on its blockchain. The project has aimed to foster a community-driven ecosystem and explore new use cases for its technology.