Payments at any time at any location
Burst can be used at any time and from any location to process your payments. There is no middleman to check or withhold your payments. Your payments are immediately recorded on the unconfirmed transactions pool and executed promptly, depending on the fee paid (Slot Based Transaction Fees). International payments are executed ad hoc as all parties are directly connected with the Burst blockchain. The minimum fee for any kind of transactions is 0,00735 BURST.
Ordinary Burst payments are equivalent to a one-time payment from your bank account. A message of up to 1000 bytes can be attached to the payment, which can be read publicly or only for the recipient.
Multi-out with same amount
With its “Multi-out same amount” payment method, Burst represents a simple way of mass transfer. With this payment method up to 128 recipients can be sent the same amount in one transaction. The minimum fee for this transaction is also only 0.00735 BURST, reducing your fees by 1/128th compared to an ordinary payment.
Multi-out different amounts
With its “Multi-out different amount”, Burst provides another payment method to send up to 64 recipients a different amount in one transaction. The minimum fee for this transaction is also only 0.00735 BURST, reducing your fees by 1/64th compared to a normal payment.
The BURST Subscription is a further way to make interval payments on the Blockchain. Similar to a standing orders on your bank account – you set the amount and the interval (from at least 60 minutes to several months/years!). A message can also be attached to the recipient at the start of the subscription. The subscription costs the minimum fee of 0.00735 BURST when it is created and each interval payment is charged with 1 BURST. You can cancel your subscription at any time. If your account runs out of funds, the subscription will be automatically terminated.
Subscriptions are executed regardless of the block allocation at your interval times – with this feature Burst has already activated an unlimited number of transactions per block, which is similar to the lighting network, with the difference that all transactions are done inside the chain.
Built-in escrow service
The Burst blockchain has an built-in escrow service, which allows a quantity of Burstcoins to be time locked on behalf of transacting parties. The escrow service is recorded as an internal smart-contract on the Burst blockchain.