Burned Tokens
By CoinGecko | Updated on Jul 28, 2020
Tokens which have been sent to addresses whose private key are not known, effectively becoming unusable. Example burn addresses include 1BitcoinEaterAddressDontSendf59kuE on Bitcoin or 0x0000000000000000000000000000000000000000 on Ethereum.
Related Terms
Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (Zk-Snarks)
An acronym for Zero-Knowledge Succinct Non-Interactive Argument of Knowledge, zk-SNARKs refers to a protocol where one can prove posession of a given piece of information (eg a string or hash) without revealing that information and also without any interaction between both the prover & verifier.
Proof of Stake (PoS)
A consensus algorthm that assigns block validation queue based on the coins/token locked in by the validator.
Pay-Per-Share (PPS)
You are compensated for each valid share that you contribute. Each share is worth a set amount of cryptocurrency that may be mined.
Cryptocurrency
A form of digital currency that utilizes cryptographic protocols to record ownership and prevent counterfeiting
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