Cryptocurrencies are the next big thing
A cryptocurrency is an encrypted decentralized digital currency transferred between peers and confirmed in a public ledger called a blockchain. A cryptocurrency is impossible to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.
The blockchain records every single transaction – of present and past – and the ownership of every single coin in circulation. The people who are constantly verifying the blockchain, ensuring that all the information is correct and updating it each time a transaction is made, are called ‘miners’. Their job is to ensure that the transaction is secure and processed properly and safely. In return for their services, miners are paid in the currency they mine.
Cryptocurrencies have many advantages compared to traditional fiat money, such as :
Better security
Transactions are secured by an advanced, complex cryptography system. You cannot be ripped off in a transaction like you can be with legacy payment systems, and it is much harder to steal cryptocurrency compared to a wallet full cash.
A safeguard against inflation
With Burst, the total supply is fixed at exactly 2,158,812,800 coins, meaning that demand is the only factor that determines the value of what you own. A centralized authority cannot inject more money into the system.
You really own your money
When an account is created, the only way to access it is with its password. The detentor of the password is the only person that will ever be able to use that account and access the coins in it.
Low fees
Usually, trading often requires the involvement of third-parties. Fees have to be paid in exchange of their help to track transactions and make sure they are secure. With cryptocurrencies, there is no need to pay for a third party.
Universal recognition
If you travel or do business globally, you know that transactions are usually affected by currency exchange rates. A cryptocurrency does not have this problem as it is universally recognized at a given value.
Maintained privacy
Because cryptocurrencies are exchanged directly from one person to another, privacy of transactions can be maintained. Instead of going through a bank or financial institution, you can now ensure no one is snooping in on your business.
Burst : the ‘cryptocurrency 2.0’
Burst was officially introduced on the 10th of August 2014 with the goal of solving other cryptocurrencies’ biggest problems : lack of decentralization, waste of energy, unfair releases, supremacy of big miners and corporations. It is the first and only cryptocurrency secured by the Proof-of-Capacity algorithm.
Burst is solving Bitcoin’s biggest problems : very low energy usage per transaction, decentralized by design, mineable by everybody.
The problem with Bitcoin is that not everyone can own specialized hardware (ASIC). The most efficient ones are private, or so expensive, that they are not an option for the casual user. This favors centralization in the form of large mining operations controlling large farms of ASICs. However, hard drives are affordable and available to all. In fact, the vast majority of people already own all the equipment necessary to mine a Proof of Capacity cryptocurrency. Because the coin is ASIC-proof, the profit per-dollar of mining equipment should be approximately the same for either large data centers or smaller casual users. Large data centers also suffer from larger overheads, like staff, building costs, etc. which tips the profit balance more in the favour of the smaller miner. Individuals can mine using their existing computer with no extra outlay which encourages more smaller users to contribute to the network, hence improved decentralization.
Along these same lines, a coin that is more decentralized is accordingly more evenly distributed. In addition to that, Burst had the fairest release possible, with no IPO/ICO, no crowdsale, and no premine.
And there is even more : groundbreaking features are included directly inside the Burst code and run in a decentralized fashion on the blockchain, such as smart contracts (a.k.a. Automated Transactions), asset exchange, crowdfunding, marketplace, encrypted messaging and much more. Burst platform allows for development flexibility, ensuring developers freedom to create their own applications. In this sense, Burst can be considered as a next-generation cryptographic application project (often called ‘cryptocurrency 2.0’) in contrast to the first generation cryptocurrencies like bitcoin.
Burst is all about facilitating commerce, circulating and creating value without a middleman and without highly centralized corporations extracting wealth of every market.
A vibrant ecosystem
The Burst decentralized Stock Market is known as the Asset Exchange. You can make money with dividends for owning shares of businesses you can chose yourself. Businesses from people like you on your own main street or any other main street in the world. As there is no intermediary on the Burst Stock Exchange, the trading fees are a fraction of a penny. The opportunities are countless and can be accessed directly from your Burst Wallet. An overview of the most traded Assets can be found here.
You don’t want to sell your business; you want to run your business and make money doing your business. You do have an existing income stream but you need more funds to expand your business.
You’re not taking value from other people, it is actually promoting business activity in a wider distributed scale. You can easily raise money through the Burst Asset Exchange by offering shares of your project. Your project shares will be valued by the free market and on top on that Burst Investors relate to your business as community members.
With the Burst Digital Goods Store you can open your own shop and sell your products for Burst in a peer-to-peer fashion with no fees in minutes. All you need is a Burst Wallet.
How do I start ?
Getting started with Burst is easy. Feel free to check our how to & tutorials section. Download the official wallet for Windows, Mac, linux or Android here. You are welcome to engage with our friendly community on a Burst forum or on our Discord group. The future of money is only a few clicks away.