it's not 1000 more efficient - but 100x yes !! you probably enter a zero more!!

anyway - it's possible thanks to a new different "blockchain engine"

you see - BITCOIN works with Proof of Work - BURST with Proof of Capacity

BITCOIN uses electricity to do calculations every-time for every block
BURST uses electricity to do calculations once - store the relative files on huge hard disks network - and then uses these files when needed...

from a high level point of view -
BITCOIN throws away a lot of good stuff
BURST keeps the processed information on hard disk and make use of it when needed

You might wonder - why didn't BITCOIN inventors did the same..

The answer is simple.... a system like BURST network take longer to develop.

There's more... people is saying that BURST is invented by the same team that created BITCOIN .. and it's actually the eco-friendly version of BITCOIN

Apart of this mystery about the inventor of BURST ... everything else is just perfect - fast transactions - mobile wallet - smart contracts and growing community.

I actually think Steemit and Burstcoin are already working on some kind of partnership

I hope I have covered your questions

Best