Concepts

Main Concepts of BURST and What Makes It Special

BURST is a decentralized, self-amending crypto token system designed to address critical issues in modern economies, including inequality, the concentration of wealth, and the impact of automation on employment. Its foundational principles are rooted in the idea of Universal Basic Income (UBI) and a free market model, but it introduces a fresh, more equitable approach to wealth distribution and resource management. Below are the main concepts that define BURST and distinguish it from traditional financial systems and other cryptocurrencies.

1. BRN Wallet and Points Distribution

The core of the BURST system revolves around the BRN wallet. Each individual holds a BRN wallet, which is periodically (according to the formula decided by the consensus) and equally added with BRN points. These points represent a person’s fair share of resources in the BURST ecosystem. Unlike traditional currencies, BRN points are not transferable and cannot be traded. They can only be burned by the service provider, thus ensuring that wealth cannot be hoarded or accumulated indefinitely by individuals or entities. All BRN wallets can hold both BRN points and TRST tokens.

Periodic Replenishing: The addition of BRN points occurs on an agreed-upon amount and schedule (e.g., monthly,hourly,minutely), with each wallet automatically increases its points based on a shared, consensus-based value. This creates a form of basic income that everyone has access to, without relying on centralized redistribution mechanisms.

The BRN points system ensures that everyone has access to wealth, thus minimizing the risk of extreme wealth inequality. The points represent the value each person should receive based on collective consensus, making the system fairer than those where wealth is accumulated and controlled by a few elites.

2. Self-Amending Consensus and Governance

BURST is built on the principle of democratic consensus. The system is self-amending, meaning the rules governing it can be adjusted or changed based on the needs and consensus of the community, and the system doesn’t need a hard fork. This flexibility ensures that the system remains responsive to societal shifts, technological advancements, and unforeseen challenges.

The consensus process enables the community to collectively decide about all the aspects of the system, such as:

• Consensus needed to reach quorum: The amount of votes needed for transaction/amendment to be approved.
• Rate of BRN points replenishment: How frequently and at what rate BRN points are added to individual wallets.
• Rules and policies around transactions: The protocol can evolve to address emerging economic conditions, ensuring its relevance and adaptability.

This self-amending nature stands in contrast to more rigid systems, where policies and rules are often dictated by a central authority or are difficult to change without significant hurdles.

3. TRST Token and Its Role

The TRST token is an integral part of the BURST ecosystem. Unlike traditional cryptocurrencies that are directly tied to wealth accumulation and speculative trading, the TRST token operates in a way that facilitates transactions within the ecosystem, with a focus on value exchange for services.

• Burn Mechanism: When someone requests a service, they essentially let the service provider burn their BRN points (which can’t be transferred). The service provider essentially mints TRST tokens from burning the BRN points of the customer.
• Timestamping: Each TRST token is timestamped, allowing it to carry the history of its creation and transfers. This provides transparency and enables the community to trace when the token was created and how many times it has been transferred. It also allows for dynamic valuation based on the number of transactions or its age.

The TRST token is also used as a means of exchange within the BURST ecosystem, primarily by service providers as incentive for giving and getting service, and its value is determined by the market. This mechanism ensures that the token’s value is based on actual contributions to the system. The timestamping and recordkeeping of transfers of TRST tokens allows the market to give a higher value to decentralized means of production that consists of less transfer chains, which prevents centralization of TRST tokens.

4. No Transferable BRN Points (Burn, Don’t Hold)

One of the distinguishing features of BURST is that BRN points cannot be transferred. Instead, they are used to burn as part of the transaction process, making the system inherently resistant to wealth hoarding.

• Burning instead of Transferring: Service givers burn the BRN points of consumers when they access services and mint TRST tokens as a result of the process. This ensures that BRN points don’t accumulate indefinitely in any individual’s wallet, promoting a more equitable distribution of wealth across the entire ecosystem. This mechanism is designed to prevent the monopolization of resources and discourage accumulation by a small elite.

• Resource Allocation: By burning the points, the system encourages more sustainable and equitable use of resources, ensuring that economic power remains distributed across society rather than being concentrated in the hands of a few.

5. Directed Acyclic Graph

BURST is based on a Directed Acyclic Graph (DAG) structure. This means that transactions and decisions within the system are processed without the need for miners, making it more eco-friendly, faster, and cheaper.

• Feeless Transactions: Transactions involving the TRST token are feeless, which promotes a more accessible and equitable system. Without the burden of transaction fees, users can exchange value freely, without being penalized for participating in the economy.

• Scalability and Efficiency: The DAG architecture also ensures that the system can scale efficiently, processing a large volume of transactions without sacrificing speed or security.

This structure empowers individuals to participate in the economy without worrying about central authorities or intermediaries taking a cut, making the BURST system more inclusive and fair.

6. Eco-Friendly Design

Traditional cryptocurrencies like Bitcoin rely on energy-intensive proof-of-work mechanisms, consuming vast amounts of electricity and contributing to environmental degradation. BURST, however, is designed to be eco-friendly by eliminating the need for such energy-consuming processes.

• Sustainable Growth: BURST operates on a system that does not require high-energy mining but instead uses efficient consensus mechanisms and periodic updates to manage token issuance. This ensures that BURST is not just economically viable but also environmentally sustainable, addressing concerns about the ecological impact of blockchain technologies.

7. Public Control of the Means of Production

A central aim of BURST is the idea that the means of production should be controlled by the public, not by private corporations or elite entities. In many current economic models, corporations control the production of goods and services, often prioritizing profit over the welfare of workers or society. BURST challenges this model by enabling the public to make decisions about production, service provision, and resource distribution.

This can be achieved through consensus-based governance, where people can decide how resources are allocated, how production is managed, and how services are provided. This empowers the people to directly influence economic systems and ensures that production is aligned with the common good rather than private interests.

Conclusion: What Makes BURST Special?

BURST offers a fundamentally new approach to how we think about money, value, and fairness in the economy. It provides a decentralized, democratic, and eco-friendly solution to some of the biggest challenges facing modern economies—like wealth inequality, resource hoarding, and the displacement of workers due to automation.

By using a self-amending consensus, a burn mechanism for wealth distribution, and a focus on public control of production, BURST creates a more equitable and sustainable system where everyone has a fair share. This is a system designed to empower individuals, keep resources in the hands of the people, and ensure that wealth is distributed according to collective agreement rather than profit-driven motives.