Discuss PoC and Burst mining, the only green mining alternative

[pinkflower]

The Burstcoinist has featured another piece about Burst mining and Proof of Capacity. It tells you why its better for energy consumption, decentralization and hardware reusability.

The Burst mining process explained

All that wasted energy on useless altcoins are becoming too impractical. Read these other articles and know more about the only green mining alternative available.


How Burst puts Bitcoin to shame
Why Proof of Capacity should be taken seriously (2015)


Heres a short description of the PoC process.

• Step 1 – Plotting
  
  Plotting is the process through which miners miners pre-generate on their HDD chunks of data called «plots», containing all the computations necessary to forge blocks. Plotting is a long and energy consuming process that is done through your CPU or GPU. The good news is: it has to be done only once! Then your plot files are stored on the HDD and ready to be used to mine Burst. In a Proof-of-Work system, this is done continuously for each and every block.

• Step 2 – Reward assignment
  
  Setting a “reward recipient” for your Burst account allows you to define a beneficiary who will get the BURST reward should your miner find a block. A pool miner sets this recipient to the pool’s address while a solo miner uses his or her own address. In the first case the miner will only get paid when “forging” (winning) a block but with the entirety of the block reward. In the second case every miner in the pool gets a portion of the reward when another forges a block.

• Step 3 – Mining
  
  Once plots are generated and stored on a drive and the reward assignment is set, the miner just has to launch his mining software. It will read through his plots in order to come up with an amount of time (called the “deadline“) necessary to forge the current block. Once the deadline is submitted, the HDD becomes idle until the next block appears. This is the reason why mining Burst is so energy efficient and easy on the hardware: your HDD is idle most of the time and reading through the plot files only for a few seconds for each block. The best deadline submitted among all miners is the one forging and establishing the duration of the block.

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[shibob]

I like the idea of Burst, also its community where I got a lot of comments from great people.
The only I dont like about it is previous attack on its network. Hope it could get over and be stronger.

[rico666]

I like the idea of Burst, also its community where I got a lot of comments from great people.
The only I dont like about it is previous attack on its network. Hope it could get over and be stronger.

It did get over it and got stronger. Much stronger in fact.
We do monitor status and progress of the network e.g. at https://explore.burst.cryptoguru.org/tool/observe
(but there are also other observers - see https://burstwiki.org)

Wallet development continues and the new 1.3.Xcg wallets will bring Burst to the next level
(feature, scaling etc.)