Mining cryptocurrency BURST (Burstcoin) on your hard drive

• introduction
• mining
• criteria
• cloud
• advantages
• currency
• conclusion

It is clear that anyone reading this article is at least aware of the existence of Bitcoin and its many successor forks. If you are a little more immersed in the topic, then without a doubt you also know that most of these forks are unlikely to deserve your and our attention. Basically, these are pale copies of the “big brother” Bitcoin, not shining with novelty and originality.

But, fortunately, not everything is so sad and simple. Just as in the piles of rock there is no, no, and a gold bar will sparkle, so in the pile of alternative cryptocurrencies, from time to time a development appears that you want to get to know better.

We want to share one of these rare finds with you today. The authors named this digital currency modestly, but with a certain message - BurstCoin, which can be translated as a flash or an explosive coin. But no matter how you translate, certain expectations arise - something bright and impressive appears. Time will tell how true such associations are, but now let’s get acquainted with this “outbreak” in more detail.

What is a Burst Coin?

It is both a cryptographic currency and a payment system based on blockchain technology. Considering the rapid development of the cryptosphere, this coin cannot be called particularly “young”. She appeared at the end of summer 2014. The launch was not preceded by either a premine or an IPO.

The currency itself is a fork of NXT since it is based on the source code of this particular crypt, but it would not be worth talking about if it did not have a fundamental difference from its predecessor. And there is such a difference. For the first time in the history of crypto projects, BurstCoin uses the new Proof of Capacity (PoC or proof of capacity) mining algorithm.

Technical features

Let's look at a brief technical background of this cryptocurrency. It has the following characteristics:

• The coin has a source code. It runs on the NXT platform;
• Mining takes place using the PoC algorithm. This means that there is no need to use complex CPUs and GPUs;
• After an announcement about the creation of coins was published on an online forum, it became clear that this project does not have an IPO or ICO premine;

• 
  There are 2,158,812,800 tokens programmed on the network. It is possible to generate additional coins. For every 10 thousand coins you can add 5%;

• It takes about 4 minutes to form a block;
• There is a Burst wallet. Wallet version 1.1.2 is suitable for storing coins;
• To mine cryptocurrency, you need to install the POCminer version of the program;
• This cryptocurrency is currently accepted by such exchanges as C-CEX, Poloniex, Bittrex.

By the way, when considering the last point, you need to take into account that the cost of the coin is too low, therefore not all trading platforms are ready to include this token in trading.

The essence of mining using the PoC algorithm

This type of mining, as we have already noted, is fundamentally different from the previously well-known methods of mining crypt. What is critical here is the availability of free space on your hard drive, and your willingness to use it to mine for currency. The profitability of the work will depend on this. True, both processor power and RAM play a certain role, but only at the preparation stage.

The first thing you need to do is install a wallet. You must install the current version of the Burst wallet, and you should also note that you need Java for it to function. At the end of this stage, you will receive the address of your new “purse”, into which the money will “drip”.

Your next step is to select a pool and register on it, which will most likely cost 1 Burstcoin coin (one of your colleagues on the forum will give it to you without any problems), after which you will be included in the number of recipients. Solo mining is also available, but as mining difficulty increases, it becomes less profitable.

Then you need to collect a plot (a set of data calculated by the miner and subsequently saved on the computer’s memory). This stage involves using the processor. Well, now you can start working directly. The main advantage is that you don’t need any more hardware besides a computer, and the disk subsystem is loaded quite moderately, which has a positive effect on the energy efficiency of mining.

Then everything is simple and familiar - you go to the exchange with your coins and exchange them for dollars or BTC (whichever you prefer).

As you can see, there is nothing complicated about mining on a hard drive. To get started you need to go through a few simple steps:

1. Download and install the BurstCoin wallet.
2. Registration of a personal account.
3. Entering a passphrase (key).
4. Login to your account.
5. In the menu at the top left, your wallet number will be indicated, which must be written down, as well as the cells at the bottom of the window (Write Plots). Wait until the system finishes generating data.
6. Select blocks and pool, and start working by clicking on “Start”.

Setting up BURST cryptocurrency mining

Experienced miners mine various cryptocurrencies through hard drives. The most popular among them is Burstcoin. Therefore, we have prepared instructions with these tokens. For your PC to start collecting crypto, follow these steps:

1. Go to the official website Burst-coin.org, there you need to download the wallet, there is a special button on the top right:

1. It is better to run the program as an administrator. Once opened, click on the link below “Write Plots”:

1. A window will open where you need to select a hard drive for mining. Data immediately appears on it, press the bottom button:

1. If necessary, you can set additional settings, but this is not necessary. Now we observe how special files for mining are created on the media:

1. All that remains is to choose a pool for BURST mining. We will not provide any links, because we need to follow the latest data. Use search engines to look for the best options, read reviews, this information quickly becomes outdated.

In 5 simple steps for mining cryptocurrency through memory media, everything is set up. Similarly, you can perform the operation for all hard drives that are installed on the computer.

HDD selection criteria and several examples of suitable hard drives

Equipment plays an important role in cryptocurrency mining, and you need to be able to choose it correctly. In our case, we are talking about choosing a decent hard drive. The first thing you need to pay attention to is the ratio of cost and memory capacity, in other words, you need to estimate how much 1GB of memory will cost you. It is clear that the cheaper it is, the more profitable it will be for you.

The second criterion is the reliability of the device. True, this indicator is quite relative, because the HDDs produced today differ little in quality. Below we present several options that we think are suitable.

There are several quite affordable and high-quality options from the Toshiba brand - DT01ACA Series 2TB, DT01ACA Series 3TB and P300 HDWD130UZSVA 3TB. The first model is ideal for crypto mining, the cost of one Giga of memory is about 2.4 euro cents, but for a truly productive farm you will need a lot of hard drives.

The second model has proven itself well, the cost per 1GB is only 2.3 cents. And the third option is also economical (2.4 cents per 1GB) and has good characteristics.

I would also like to note the Archive HDD ST8000AS0002 8TB model from Seagate. It is notable for the fact that a unit of memory here costs about 2.35 cents, while the usual cost of such a volume of memory in hard drives for 4-6 TVs is never lower than 2.7 cents, which makes them not very economically profitable. And another option with a cost of 1GB of memory is only 2.3 cents – Seagate BarraCuda ST4000DM005 4TB.

Cloud mining BurstCoin

Perhaps everyone knows that there is such a method of mining cryptocurrencies. But, mostly, they know about services that provide cloud mining services for Bitcoin and some other well-known digital coins. We would like to introduce you to a resource that allows you to mine the unfamiliar and not quite ordinary Burst coin.

The service is called Burstmine and it offers its services not very expensive. As you understand, since this crypt is mined on hard drives, Burstmine offers users free disk space, and the power here is measured not in Tera, Giga and Megahashes per second, but in Tera and Gigabytes.

Forecasts and prospects

Many experts believe that the prospects and future plans for Burstcoin in 2022 will depend on the position of the largest cryptocurrencies in the world. Judging by the situation that we could observe last year, this opinion is not unfounded. If you compare the growth charts of Bitcoin and Burstcoin, you will notice a clear pattern. For example, the peak value of Burstcoin coincides with the period when Bitcoin also reached its maximum.

Most forecasts are made in relation to dollars. It is also possible to find out the growth prospects for Burst against rubles. So, according to recent forecasts, the most favorable circumstances could trigger the coin to rise to $0.5 this year. This means that in rubles the price of the token will fluctuate somewhere around 29 rubles.

But this prediction is inaccurate. Do not forget that forecasts may change by the end of 2022, because the unstable situation in the cryptocurrency market keeps the entire crypto industry in constant tension. Don't consider Burstcoin as anything more than an easy mining item just yet. It doesn’t require expensive technology, so having a few tokens in reserve won’t hurt. Maybe someday they will rise in price. Maybe not this year, but it is quite possible.

Advantages and disadvantages of PoC mining

Any method of mining crypt has its advantages and disadvantages. The algorithm we are considering is no exception.

The advantages definitely include the fact that you can do without bulky and expensive equipment, you don’t need to waste time and money looking for suitable video cards (the built-in one is sufficient). The system is quite simple to install and configure, and everything is housed in the ATX case of your computer. Moreover, you won’t need any powerful power supplies, since a dozen HDDs consume only about a hundred watts. In addition, they do not heat up as much as video cards (the heat generated by one gaming video card is comparable to the heat generated by a dozen hard drives). As a result, you will not need noisy and powerful cooling systems. And finally, with this method of mining crypto coins, you don’t have to be a tough professional and thoroughly understand all this computer hardware.

It seems like we’re done with the advantages, it’s time to talk about the disadvantages. There are not so many of them, but knowing them will be quite useful.

The first and, perhaps, the most significant drawback is the rather limited list of cryptocurrencies that can be mined using this method. The second thing to be warned about is the difficulty of selling a used hard drive. If you suddenly decide to upgrade it, it is not a fact that you will be able to return at least part of your costs (for example, it is much easier to sell a used video card). They also write about such a thing as the probable failure of the HDD after a not very long operating time, but in our opinion, this is pure reinsurance from the “what if” series. Of course, anything can happen, but we would not classify such a possibility as an obvious disadvantage.

BurstCoin is a digital currency that turns smart contracts into reality

Attention to digital currencies has recently been focused largely due to the possibility of using blockchain technology in the development of smart contracts. The number of startups launching smart contracts (like Ethereum) is increasing every day. While tracking such large projects, the community almost missed a seemingly inconspicuous startup that was actually able to get ahead of everyone else in this matter.

Of course, we are talking about the Burst project, which launched a coin that allows you to produce smart contracts directly from your wallet. These same contracts can radically change many aspects of our lives. To the point that over time, in many cases we will be able to do without lawyers or bankers, since smart contracts are capable of fulfilling the terms of contracts automatically.

The BurstCoin developers plan to increase the number of smart contracts supported by the system to at least 10 and introduce support for online games, autonomous corporations, etc. Such developments will make it possible to carry out instant transactions during crowdfunding, auctions, lotteries and in many other cases, when the need arises.