Burst is based on NXT and Proof-of-Capacity and includes also... smart contracts!
Which contracts are already working?
● Atomic Cross Chain Transactions, which allow for true decentralized trading between
cryptocurrencies. For example, trade your BURST with a coin that provides a mixing service for the
purposes of privacy, then send it right back to a new BURST account.
● Auctions, where you can auction an item or a service off at a certain starting price. Participants send
money to this Smart Contract, and anytime one sends more than the previous participant, the
previous participant’s money is automatically refunded. 'Buy Now' option is also supported.
● Crowdfunding, where it is possible, similar to Kickstarter, to support a project by sending funds to an
account. If the account receives enough funds by a certain block, then the project funds are
released; otherwise the money is returned to the senders.
● Dormant Funds Transfer, where it is possible to get an account dormant for a specified period of
time, to automatically forward the balance to another account. This could be useful as a Last Will
and Testament and/or backup for your funds, in case you lose the password.
● Lottery, where you send coins to a Smart Contract programmed to randomly choose a winner and
award that account with its winning BURST.
Which contracts can be added in the future?
● Autonomous Corporations, entities holding internal capital, autonomously acting on the market
through sets of trustless rules Smart Contracts with the ability to, for example, automatically pay
dividends to shareholders and basically trustlessly direct the capital around the corporation and the
market through predetermined channels of your choosing.
● Gambling, such as sports betting, where people establish ahead of time the conditions that must be
met in order to determine the winner, and the winner is automatically awarded his winnings.
● Selfmixing, it was shown to be possible to mix your balance directly using Smart Contracts;
however, the exact level of anonymity achievable using this method is currently under review.
● Smart Property, another potential area, allowing ownership of an object to be shared depending
upon the state of the Contract. For example, a shared car that you automatically pay for but only
while driving it.http://burstcoin.info/SmartContracts.pdf
Any plans for smart contracts for FIMK?