Burstcoin (also called Burst) is a digital cryptocurrency and payment system based on the blockchain technology. Burstcoin was introduced on the bitcointalk.org forum on 10 August 2014 as an Nxt-based currency. Burstcoins are mined using an algorithm called proof-of-capacity (PoC) in which miners use computer storage instead of the more common energy-expensive method proof-of-work (PoW) which involves permanent computational operations.

 

The energy requirement for Burstcoin mining is minimal compared to most other cryptocurrencies, making Burstcoin one of the most energy efficient within the field of proof-based cryptocurrencies. Storage space is required however: as of December 2017, the estimated network size approached 157,000 terabytes and the average mining payoff was 21 burst per week per terabyte (then worth 1.7 US dollars). Participants with disk space measured in gigabytes are no longer likely to receive significant payback from mining.

The Nxt blockchain platform allows for development flexibility, ensuring developers freedom to create their own applications. In this sense, Burstcoin can be considered as a next-generation cryptographic application project (often called 'cryptocurrency 2.0') in contrast to the first generation cryptocurrencies like bitcoin.

Source: Wikipedia - Burstcoin