Is this based off Microsofts whitepaper?
This is unrelated to Microsoft's 'permacoin' system which requires a central authority.
great answer above
if anything BURST will be used by Microsoft in their store
Can someone please help me....I sent BURST from POLONIEX to my new wallet....however I didn't realize the wallet said something about you need the public key when funding the wallet for the first time...I didn't read that...however I sent my BURST from POLONIEX to my new wallet BURST-SM4H-WSCQ-9YV2-7R7KR I did that yesterday...and still do not have the burst in my wallet...it was over 1 million burst....what is going on guys?
DOES THE BLOCKCHAIN HAVE TO UPDATE IN ORDER FOR MY BALANCE TO SHOW?
IT SAYS THIS ON MY POLONIEX ACCOUNT
1202097.22127455 BURST-SM4H-WSCQ-9YV2-7R7KR 2015-02-03 04:04:28 COMPLETE: 3234312384822385240
In order to see the transfer you have to have the blockchain synced past when it was sent.
Balance on that account shows as 1348152, so it's there, don't worry.
Thank god. My heart sank in my chest I thought I was about to die a few min ago....thank you for the quick reply sir! love this coin...great! the chain still has a ways to go so I guess itll show soon enough.. Only thing I don't understand is how I am able to get access to my coins from any CPU in the world...where as My bitcoin wallet on my laptop is stuck on that laptop....doesn this make BURST less secure if it is stored on some kind of cloud
who are we trusting with this info
With burst, you can only move the coins if you know the passphrase, and that passphrase is never stored anywhere, it is only typed into the browser when you open it to do transactions. The passphrase controls a BURST public account number, and therefore you can spend from that public account as long as you know the passphrase. Nothing is stored locally, and no passwords or anything is stored centrally.
bitcoin works more or less the same way, but you don't usually use your passphrase (which is the private key) and it is stored in the wallet, typically protected by a password that you make up yourself.
if you can keep your passphrase safe, then noone can move your coins around, unless they are able to guess what it is - so make sure to use BURST addresses generated from impossible to guess passphrases. I use verified password generators to generate my passwords. the passphrase is not stored anywhere.
Biggest part is finding a willing dev
