Crypto: the unsung hero of all One day, after the usual hard work i was approached on discord by Crypto Huff, in a P.M.
Did not seemd to be that important, you get a lot of P.M. if you are active in crypto related channels.
At first i was thinking its no more than another scam attempt, but it turned out to be a legith approach,
offering the possibility of a bit of advertisment.
So sitting in front of the computer, listening to the ever buzzing sound of fans and custom hardware components...
I have realised, without introducing the platform i use for my prohect(s), there is no point introducing them.
So let's get started with a bit of history about the unsung hero of all, BURST coin.
If you like ambient, consider listening to the resident evil OST from marlyn manson while reading.
It all started on 2013 september 28 by an anonymus sfotware developer, the chain was called NXT. The first major diverge from Bitcoin's work based proof of mining,
NXT (some sources may disagree) uses Proof Of Stake mechanism to reach consensus, allso is the fore runner of blockchain based solutions. Its platform
is still alive, and offering its services. NXT was crafted with the mindset of providing a felkxible platform for financial services, allowing to create
assets. The paper from European Securities and Markets Authority "Call for evidence" does indeed covered the platfrom extensively.
However, NXT has a fixed supply of 1 billion coins, and is unmineable in the traditional sense. Fast forward to 2013 November 26, all of the 1 billion coins got
distributed allready. The platform was on its own succesfull, as in 2015 november 9, Farla Webmedia launched a project on the platform. In 2016 July, NXT took the
next step, and launched Smart TRansactions Templates, the forerunner of automated/smart contracts.
However, all of the proof of stake chains have a flaw yet to be addressed. Since the "nothing-at-stake" problem exsist within all of these chains. It simply means
that far too little work is required for working on multiple chains. Proof of work -realised even by then- hogs up unexpected amount of power, so is not an ideal choice.
consuming too little , proof of stake is on the opposing end of the scale.
August, 2014
If, Bitcoin with its limited features and high power consumption, can be called the first generation of crypto, NXT would be the 2nd generation of coins offering more than
transaction of value, but exchange of messenges and encrypted data. But, while addressing the high power requirements, it allso went to tip the scale over.
For this reason, the 3rd generation of crypto coin was made, as a fork of NXT. Addressing the issues of lack of decentralization, waste of energy, unfair releases,
supremacy of big miners and corporations. It is the first cryptocurrency secured by the Proof-of-Capacity algorithm.So not only just solving all issues of the previous generations,
BURST coin allso managed to introduce a brand new way of mining. BURST allso had major advances in order to become the most flexible platform for financial solutions regardless of size.
It retained the automated transactions, that are the fore runner of smart contracts used by Etherium blockchain. Burstcoin is mined with harddrives, scanning pre-calculated results from
so called "plot files" generated only once. From then on, the calculations are not performed again, they are stored and reused every block round. This is how Burst can get away with
being far more energy efficient than any proof of work coin, yet still being able to combat the "nothing-at-stake" problem efficiently. And evolution has not stopped BURST just yet.
BURST over the years has evolved to host its own decentralised peer to peer coin exchange, built on smart contracts. Unlike other platforms that offer smart contracts, BURST can
manage it with extraordinary low fees, making it suitable for even small scale business applicatins and financial services of all kinds. BURST coin is the first blockchain that
has a full TURING COMPLETE smart contract system, a huge milestone in today's leading technology, Decentralised Finance. Probably as important as Karl Benz and Rudolf diesel was
for the evolution of the internal combustion engine technology. It basicly has all the bells and whistles by modern day's standards to provide a cheap, affordable, eco friendly solution
within the proof based currency realm. Noteworthy, that BURST chain hosted the worlds first autonomus lottery running as a smart contract.
How ever, there is a dark side too to BURST. A platform this flexible, and accessible, is naturally the target for scammers and other criminal minded people.
By 2020 , mostly what is left from the asset/token exchange feature of BURST is no more than ashes of former scam attempts and failed businesses. Be it shared mining, gambling,
market places, all of them failed.
And this is where i come into the play. BURST has so many features, well working features, that as a platform it should not be ommited by people. Despite being unprofitable to
mine BURST, it still has more than 450 full nodes in operation world wide, has an active community and constant upgrades, fixes, additions. Along the lines i do have to mention
BTDEX again, the peer-to-peer exchange running on BURST smart contracts, the Cryptoball lottery, the upcoming Bicho lottery. TRT, alias Trade Token fuels this vast ecosystem, allso
offering passive revenue from what the Exchange it self makes, and the mentioned lottery style games. And a library of decentralised apps. BURST is ideal currency for small value
transactions too. It is the Crypto Of Things, the unsung hero of crypto.
Supporting the most innovative platform is not something i had to consider to do or not do. Seeing the devastation done to the asset exchange and token related functions of this
marvell blockchain led me to release a product on this verry platform, as a proof of concept. Proof, that BURST is not flawed, just not used correctly. This is My story,this is
how i support the network besides running 2 full nodes my self.
The LMSI project
So as it been pointed out, BURST, depsite being the best of the finest, has a rough past and technology put to proper use is nothing but a theroy.
My project started exactly on 2020 January 1, for a convinient BURST-day. (pun intended)
LMSI is to be considered as a way to support the network, and allso as a way to earn BURST. It has 500,000 shares, no decimals. It runs on the brilliant BURST chain,
listed in the BTDEX peer-to-peer platform under the numerical ID of 16296102952444293762 . It can be bought with BURST.
The modell is super simplified to keep everything easy and transparent. BURST is used to purchase non-BURST coins that can be mined via low energy solutions, preferably
Poor of stake type coins. The staking income is used to buy burst, and pay a proportional amount to holders of LMSI. It is created to raise the value of BURST, and to showcase
its technology. Every month, payments are made, and Our achievements listed on Our Discord channel. It has not been advertised, there is near zero marketing involved. Release of
LMSI is at a limited rate, with a ladder type system in place to ensure no overselling is possible. Part of the income is lockt for future buyback orders, and compounding.
The ladder system makes sure its never oversold. Sell price is allways 4000 BURST, and target buyback is 3999 BURST.
One may ask, why is it different than just purchasing a stakeing coin, and holding it ? Well, first off, other than purchasing, there is realy nothing else to do. No need to
have a wallet open, check blockchain for forking, no need to worry about manadtory updates. It is all taken care of by me personaly. Services that do this work for a far higher fee,
resulting in far less of the profit. Allso LMSI has side income sources, never financed from sales of LMSI, but the profit is put towards obtaining more coins. This system yields
higher returns than what staking the proprtional amount of coins could. Even if running costs are not considered.
There are numerous services world wide simular to LMSI, but only LMSI has 100% traceable records on block chains, and thus a proven track record ensured by blockchain technology.
At the exact time fo this writing, 180 LMSI has been sold since the launch. That means, that 720,000 BURST has been put to good use. Allso, LMSI has a little Brother too. cLMSI
is yet a nother release on the same BURST chain, aimed to serve as a cheaper entry point into LMSI. As currently LMSI is worth about (at this verry moment) roughly 25 USD-ish.
cLMSI is a fraction asset, 1/100 of the value and returns of a single LMSI. It is allso limited in mubers, being only 500 created. It was not made by me, but a 3rd party. For
reasons unclarified the creator has went out of the crypto space, however cLMSI has been rebooted with community help and is in the best hands one can wish for.
Most probably the first time in crypto when a failed attempt left exactly ZERO people scammed or damaged. No harm was done, in fact all the monthly logs can be read in the LMSI
discord channel. Dating back to the first one. Every single time something went bad, the compensation is listed too. Allso LMSI is most probably the only oversecured item in the
whole cryptospace.To this date, there was never a single time when -if initiated by voting- it could not be liquidated and offer a higher buyback to every holder than original sell
price. And, in 1 case a buyback was allready done for technical reasons.
Allso note worthy, that up to this date, not a single account ever wanted to SELL LMSI than the issueing account.
If you wish to support my work, there are options to do so. One of them is the hashpower donation option, where one can donate CPU hashpower, or one can simply obtain an LMSI ,
or cLMSI, or donating BURST via the Burst dappository. Or just simply join our discrd and lets have a chat.
Our community is not regulated and not safe by default, topics are not fixed. Even if not crypto related, we discuss everything. We keep it civil. Moderation is not present ,
and not required usually. Scamming attempts and spamming is however not tolerated. Opposing views are welcome allso. LMSI is actually formed from the derivation of asking absolute
random people on different crypto channels for opinions what they would NOT like to see in a brand new crypto project. The reverse logic yielded a clean, sleek, simple result.
Thank You for reading.
A list of interesting links you can find here:
LMSI+cLMSI discord link : https://discord.gg/KGsxvTa
TRT discord link : https://discord.gg/wKbNPjvVBf
BURST dapps : https://burst.dappository.world/
BTDEX : https://btdex.trade/
LMSI explorer link : https://explore.burstcoin.ro/asset/16296102952444293762
cLMSI explorer link : https://explore.burstcoin.ro/asset/15170030448068790443
TRT explorer link : https://explore.burstcoin.ro/asset/12402415494995249540
BURST coin main site : https://www.burst-coin.org/
Comments