Burst
Mining speed based on HDD capacity
[No logo since I can't draw]
Website: [not yet constructed]
Twitter:
https://twitter.com/BurstcoinSpecs:NXT based
POS removed
No IPO
No Premine
4 minute block time
2,158,812,800 coins total
Block reward starts at 10,000/block, then decreases 5% each month (similar to halving every 14 months, but much smoother)
Uses pocminer made for this coin
Proof of capacity(POC) mining:Burst uses a new algorithm for proof of hdd capacity (POC) mining. Miners pre-generate chunks of data known as 'plots' which are then saved to disk. The number of plots you store is effectively your mining speed. Every block the miner will skim through the saved plots, and come up with an amount of time until it is able to mine a block if another block hasn't yet been found. After reading through the plots is complete, your hardware can idle until the block. The miner will be released a few hours before launch to give miners time to start generating plots.
How it works:Miners generate and cache chunks of data known as 'plots', which are divided into 4096 portions known as 'scoops'.
Plots are generated by taking a public address and a nonce, then hashing it, pre-appending the resulting hash, repeating the hash-pre-append cycle many times, and then hashing the whole thing and xor'ing the last hash with the whole thing.
Plots are staggered together so chunks of the same scoop number are together, then written to disk.
Each block has a generation signature which is derived only from the previous block's generation signature and miner, so it is difficult to manipulate.
When mining, the scoop number to be used for a block is derived from the generation signature and the block height, so the miner reads all relevant scoops(each plot will have 1 relevant scoop, and staggering allows for larger sequential read with less seeking) Only 0.024% of the stored data will need to be read each block.
The generation signature is hashed with each scoop. 8 bytes are taken from the hash, then divided by a scaling factor(inverse difficulty)
The resulting number is a number of seconds. If that many seconds passes since the last block without a new one, the address/nonce combination used to generate that plot/scoop is eligable to announce a new block.
The miner's hardware can just sit idle until either that time or a new block.
The address/nonce is included in the block as proof of eligability, and the block is signed by that address.
Technically, this mining process can be mined POW-style, however mining it as intended will yield thousands of times the hashrate, and your hardware will sit idle most of the time. Continuously hashing until a block is found is unnecessary, as waiting long enough will cause any nonce to eventually become valid.
Shoddily made flow chart of the general process. Does not include caching plot to disk and retrieving them:
Release schedule:I still have a few fixes and some testing to do, but I plan on trying to release tomorrow.
Some time before the next entry: Miner binary + source will be posted in passworded rar archive https://bitcointalk.org/index.php?topic=731923.msg8286075#msg8286075GMT 2014 August 10 11:00 PM :
Miner password will be posted, so you can start generating plots. Passworded rar of client binary + source will be posted. plain zip of miner:
https://mega.co.nz/#!b0pzHajA!ERk068l5NS6kR7zdLdTgltqyPw3Z60lwAWvgXtNQNTk Passworded client:
https://bitcointalk.org/index.php?topic=731923.msg8287478#msg8287478GMT 2014 August 11 2:00 AM : Client password will be posted, and network will launch.
How do you set this up exactly? A tutorial would be nice.
