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Author Topic: Thoughts on BURST?  (Read 373 times)
anarchrist
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February 26, 2017, 11:16:08 PM
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Just want to get some peoples opinions on burstcoin. Does it have a future?
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irukandji
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February 26, 2017, 11:22:21 PM
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Does it really have so many nodes?
anarchrist
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February 26, 2017, 11:25:07 PM
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Does it really have so many nodes?

it has quite a few
iamnotback
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February 26, 2017, 11:48:12 PM
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i think BURSTs PoC (proof of capacity) algo is worth to look closer at because it removed the PoW and PoS design flaws (long term secure affordable decentralization).

since the algo is based on precomputed data comparable to rainbow tables there is no way to develop special centralized hardware like asics for it (in terms of running costs as capacity replacement).
for the decentralization this means everyone can buy regular hdds in the next shop around the corner or use spare capacity.
compared to PoW there are almost "no" running costs.

the coin exists for over a year now and instead of having a whitepaper it has a over 1000 pages long bitcointalk thread here:
https://bitcointalk.org/index.php?topic=731923.0

Quoting from https://eprint.iacr.org/2015/528.pdf

"Perhaps the most serious security issue with Burstcoin is that it allows for time-memory
trade-offs: a miner doing just a small amount of extra computation can mine at the same rate as an honest miner while using just a small fraction of the disk-space that an honest miner would."
AusKipper
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February 26, 2017, 11:50:24 PM
 #5

I started a thread here recently:

https://bitcointalk.org/index.php?topic=1805042.0

The topic was a coin similar burst, but the space used is usable by other people. (and it burns more coins if they become too cheap to help keep the value stable or ascending)

iamnotback assured me that using Proof of Storage cannot be made secure, and that Burst was nothing but rubbish.

I am interested to read the replies to this thread, in particular any comments about the viability of proof of storage.

*edit*

Look who turned up while I was writing that post lol...

anarchrist
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February 26, 2017, 11:52:19 PM
 #6

i think BURSTs PoC (proof of capacity) algo is worth to look closer at because it removed the PoW and PoS design flaws (long term secure affordable decentralization).

since the algo is based on precomputed data comparable to rainbow tables there is no way to develop special centralized hardware like asics for it (in terms of running costs as capacity replacement).
for the decentralization this means everyone can buy regular hdds in the next shop around the corner or use spare capacity.
compared to PoW there are almost "no" running costs.

the coin exists for over a year now and instead of having a whitepaper it has a over 1000 pages long bitcointalk thread here:
https://bitcointalk.org/index.php?topic=731923.0

Quoting from https://eprint.iacr.org/2015/528.pdf

"Perhaps the most serious security issue with Burstcoin is that it allows for time-memory
trade-offs: a miner doing just a small amount of extra computation can mine at the same rate as an honest miner while using just a small fraction of the disk-space that an honest miner would."

is there no way that security issue could be fixed?
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