Token Burn
By CoinGecko | Updated on Mar 03, 2020
Fret not, there are no virtual fires here. A token burn event refers when an amount of tokens are removed from the circulating supply, this is done either by sending the tokens to a burn address "addresses with very improbable private key generation chance", or to a smart contract that is meant to delete the tokens.
Related Terms
Cold Wallet
Wallets that are offline and require physical access to certain devices (eg. hardware wallet, paper wallets)
Liquid Proof of Stake (LPoS)
A proof of stake consensus mechanism by Tezos that slightly differs from Delegated Proof of Stake.
Composability
Composability refers to the ability to combine different components of a software stack.
cc0 NFT
A cc0 NFT is a piece of digital content where the IP rights have been relinquished.
Hungry for more knowledge?
Back to Glossary or Subscribe to our newsletter.