Complex sentence: Being an open source project, other members of community then took over the development of Burstcoin: on January 11th 2016, a new forum thread was created on Bitcointalk.org by a senior community member.
Split into simpler sentences: Being an open source project, other members of community then took over the development of Burstcoin. On 11 January 2016, a new forum thread was created on Bitcointalk.org by a senior community member.