SpeedCash BURST

SpeedCash BURST

BURST (Blockchain Usage Regulated & Sustainable Tweaking) is an incredible feature of SpeedCash and has been around since its introduction with version 1.2.3. It allows for transactions to be carried out using the real blockchain in a much faster manner. One of the basic purposes in the process of SCS development is for transaction speeds to be compatible to that of real life usage of bank cards and cash. Here you can see that Bitcoin’s performance values are in all reality not that impressive; therefore, we revised the protocol significantly. And we have succeeded: the average speed of transaction confirmation is only tens of seconds, generally ranging from 20 to 30.

These results are quite notable, especially considering that no off-chain solutions were involved. We have considered that perhaps using masternodes would provide even faster results, but masternode solutions are still not considered trustworthy and protected enough to rely only on them. Considering this, SpeedCash invented the BURST technology in order to increase the speed.

BURST allows for accelerated block generation on the blockchain in a controlled manner. This is achieved through PoS technology as outlined in the following section:

Generally, when a PoS block is generated, it is immediately posted on the network, which allows for instant confirmation of all the transactions within this block. Each staker generates such blocks with certain regularity, calculated by the network so that new blocks are put out every 30 seconds on average. Stakers receive a small reward for each block loaded to the blockchain.

 

The time interval is a matter of discussion and a trade-off. If blocks are generated too seldom, then the network will be very slow and not applicable for our tasks. On the other hand, if the blocks are generated too often, several problems can arise at once like that of:

  • The blockchain size and the amount of traffic for blockchain synchronization will immediately grow. This means that many weak nodes (computers) will not be able to access such a network at all.
  • The probability of at least short-term network splitting increases if the capacity of network channels is not sufficient for such volumes.

If we set up a one second block interval, we could get 2.5 GB of blockchain data in just one day for instance, which is more than a terabyte per year! In the long term, this is completely not acceptable.

Therefore, we decided that the acceleration of the network will be carried out at the request/desire of the user. For this, the PoS mechanism changes as follows:

Firstly, stakers who choose to work on the BURST algorithm collect their stakes for themselves:

And then at the moment needed, they quickly post all the found blocks into a public network:

This solution provides a short-time boost of the entire SCS network performance. This means that at this moment, all waiting transactions in the network will be confirmed faster, not only the one who launched BURST. Such a decision can be considered fair enough in terms of competition, and yes, it affects deposits and withdrawals of exchanges, which means that with BURST, you can transfer coins between exchanges faster! This can be very useful for arbitrage. In addition, it does not overload the network, and does not create problems for synchronization. The disadvantage is that BURST does not work in 24/7 mode.

You may be wondering what will happen with PoS rewards. While the BURST user generates blocks but does not post them, they do not receive rewards. Once they activate BURST Send, they will receive a reward for as many blocks as the network will take at that moment. The network is protected against overload, i.e. too frequent publication of the blocks, so it may reject some attempts to load the block, keeping the interval between all the blocks at least three seconds. The staker will not receive rewards for unused blocks. This is why those who are using this feature will get less rewards than those using pure PoS.

In saying that, we have decided to let users choose on their own whether they are ready to make this trade-off for the sake of possible speed or not. Therefore, on the main page of the SpeedCash wallet there is a button allowing you to choose pure PoS or BURST:

When choosing the pure PoS option, you cannot accelerate the network yourself. Accelerations that were created by others will speed up your transactions, however. At the same time, the overall level of rewards is 8% annually.

When choosing the BURST mode, you will not get any reward until you enable BURST to send. There is a special BURST NOW button for this.

When you press it, a short-term (30 seconds approximately) acceleration of all the transactions on the network is activated.

The BURST Send button on the Send coins page sends your transactions first and then immediately starts the acceleration:

In order to have the BURST feature available, you have to be a SpeedCash stakeholder; therefore, you must have a positive SCS balance in your wallet. The higher the balance, the greater effect your acceleration will have. At the moment, the threshold value is at least 100 SCS on your address.

The next successive using of this button will not produce any result until you accumulate enough PoS blocks over time.

Having a SpeedCash balance large enough, you can steadily achieve acceleration of up to three seconds between blocks. That's 20 confirmations per minute and about 300 times faster than Bitcoin.

Brief summary:

  • BURST is a function that allows you to make transactions faster, not only for yourself but for everyone else for a period of time;
  • BURST speeds up transactions even between exchanges;
  • You do not have to pay for BURST. In fact, when you use it, you get a reward!
  • In saying that, it is important to keep in mind that if you choose BURST mode, you will receive fewer rewards than other stakers.

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