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
Altcoin
Coins althernative to Bitcoin
Buy/Sell Tax
On-chain buy or sell tax rate where a percentage of the tokens bought/sold will be transferred to a set address.
Bitcoin Evangelist
Individuals who are passionate about Bitcoin, and are dedicated in spreading knowlege about Bitcoin
Proof-of-Burn (PoB)
A consensus algorthm that assigns block validation queue based on the coins/token burned by the validator.
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